UK Govt Convenes Working Group Dialogue on Trade and Investment

Stories by Emma Okonji

The UK and Nigeria have launched the UK-Nigeria Economic Diversification Working Group Dialogue, a strategic follow-up to the recently concluded Developing Countries Trading Scheme (DCTS) Roadshow in Kano and Lagos states.

Convened under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), the event brought together senior government officials, trade experts, and private sector leaders from both nations.

Opening the event, British Deputy High Commissioner Mr. Jonny Baxter reaffirmed the UK’s commitment to deepening bilateral trade relations, which was valued at £7.9bn in the12 months ending March 2025.

He reaffirmed the UK’s commitment to supporting Nigerian exporters through the Developing Countries Trading Scheme (DCTS), which provides generous tariff reductions and simplified trade rules.

“Today’s dialogue marks a significant milestone in the UK-Nigeria partnership. It reflects our shared commitment to driving inclusive, sustainable economic growth through strategic exports diversification. By working together, government to government and with the private sector through our market development programmes like Propcom+, we are unlocking new opportunities for trade, investment, and innovation across key sectors,”Baxter said.

Also speaking, Director of Trade and Investment, representing Ambassador Abba Nura Rimi, Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Mrs Orji Gertrude said:“This DCTS initiative comes at a critical time when Nigeria is intensifying efforts to diversify its export base beyond oil and strengthen its participation in global value chains.”

MTN Posts Strong Q3 Performance with N3.7trn Revenue

MTN Nigeria has established successful business in Nigeria, since the rollout of its commercial services in 2001.

The telecoms company recently released its Q3 2025 financial statement, declaring revenue of N3.7 trillion for the period ended September 30, 2025.

Highlights of performance over the business period, showed that mobile subscribers grew by 11per cent to 85.4 million during the period. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose by 123 per cent to a bouncy N1.9 trillion. 

According to analysts, the strong performance of MTN, underpinned a viable return to dividend payment. There’s an interim dividend payment of N5 per 2 kobo ordinary share approved by the Board of Directors to be paid to shareholders whose names appear in the company’s Register of Members as at the close of business on November 20, 2025, subject to the appropriate deduction of withholding tax, according to the company’s secretary, UtoUkpana, a Fellow of the Chartered Institute of Secretaries (FCIS).  Giving details of the financial report, MTN Nigeria’s Chief Executive Officer, Karl OlutokunToriola, said: “We are pleased to report that MTN Nigeria has restored its positive earnings and shareholders’ equity positions. This is a significant milestone that demonstrates strong operational momentum and disciplined execution. Supported by a more favorable macroeconomic environment and price adjustments, the outcome was driven by the delivery of our strategic and commercial initiatives, commitment to efficiency and prudent financial management.”