British beverage maker Twinings Ovaltine has announced plans to launch a £24 million manufacturing facility in Lagos.

This forms part of broader trade engagements between Nigeria and the United Kingdom.

The facility is expected to create over 100 direct jobs. It will also boost the company’s exports across West Africa, according to a statement from the UK’s Department of Business and Trade.

The launch represents the company’s major capital investment in Africa. It reflects Nigeria’s growing importance as a key market for consumer goods manufacturers.

“Twining’s Ovaltine is launching a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting the company’s exports across West Africa,” the statement read.

As the two economies strengthen cooperation and trade relations, UK Business and Trade Secretary Peter Kyle highlighted the mutual benefits of the investment.

“With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest-growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries,” Kyle said.

Nigerian firms are also expanding their presence in the UK. Zenith Bank, now Nigeria’s most valuable bank, has opened a branch in Manchester. This is expected to create up to 30 new direct jobs and support the North West economy.

The bank is exploring a potential 2027 listing on the London Stock Exchange. This move aims to deepen its UK market presence and unlock long-term funding for UK-Africa growth.

Fidelity Bank plans to double its current 62-person workforce in 2026 and add new capital. The Fidelity Group is making London its global hub.

FCMB, one of Nigeria’s lenders with an international license, has chosen the UK as the first international destination for its digital cross-border payments platform. This will enhance trade and investment flows between Africa and the rest of the world.

Seven Nigerian banks now operate in the UK. Together, they support at least 1,000 jobs in total, according to the statement.

Bilateral trade between the UK and Nigeria has reached an all-time high of £8.1 billion a year. The two countries demonstrate how nations grow faster when they grow together.