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Kemi Badenoch - UK Secretary of State for Business and Trade |
The United Kingdom (UK) and Nigeria are set to sign an agreement allowing British lawyers to practice within Nigeria.
The UK government, in a statement on its website, disclosed
that the Enhanced Trade and Investment Partnership (ETIP) with Nigeria goes
beyond simply facilitating lawyer mobility. It aims to expand trade and
investment while also creating new opportunities for UK and Nigerian
businesses.
The ETIP deal is the first the UK has signed with an African
country and is designed to grow the UK and Nigeria’s already thriving trading
relationship, which totalled £7 billion in the year to September 2023.
“The partnership will create opportunities across a breadth
of sectors crucial to both economies, such as financial and legal services, “
the UK government said.
“It will see Nigeria commit to working towards removing
barriers preventing UK lawyers from practicing international and foreign law in
Nigeria, a step that could significantly increase UK legal services exports.”
The UK government also stated that the agreement will pave
the way for future collaboration in the film and media industries, as well as
encourage world-renowned UK education providers to offer high-quality education
in Nigeria.
“Nigeria is the biggest economy in Africa and one of the
world’s fastest-growing economies – predicted to be in the top 20 by GDP by
2035. It is also predicted by the UN to nearly double its population to over
370 million people by 2050,” the statement added.
Previously, Nigerian law restricted foreign lawyers from
practicing domestic law.
While the details of the agreement are still emerging, the
agreement will be signed on Tuesday by Nigerian Minister for Trade and
Investment, Dr. Doris Uzoka-Anite and UK Minister for Business and Trade, Kemi
Badenoch, as part of the latter’s maiden visit to Nigeria since his assumption
of office in the UK parliament.
The UK’s Business and Trade Secretary, Kemi Badenoch, stated
that the partnership with Nigeria will enable us to collaborate and seize the
opportunities that lie ahead.
“Nigeria has one of the fastest growing economies in the
world. UK businesses have already seen huge success here and I look forward to
seeing how we continue to grow this relationship,” Badenoch said.
Uzoka-Anite noted that the partnership will shift Nigeria-UK
relations from one of shared history and strong bonds to one of shared economic
prosperity, from increasing market access and supporting vibrant businesses to
creating more jobs and accelerating greater investments in sectors of mutual
interests.
“Nigeria is an important growth market for the UK-based
financial and related professional services industry and TheCityUK welcomes the
signing of the new ETIP. We look forward to continuing our engagement through
the working groups to increase market access and remove regulatory frictions,”
theCityUK International Managing Director Nicola Watkinson added.