CPPE, LCCI seek trade expansion ahead of Tinubu’s UK visit

The Centre for the Promotion of Private Enterprise (CPPE) has called for trade expansion ahead of President Bola Tinubu’s state visit to the United Kingdom.

The call was also echoed by the Lagos Chamber of Commerce and Industry (LCCI).

The organisations urged Tinubu to deepen economic ties as he visits the UK on the invitation of the King of England, King Charles III.

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They communicated their positions in separate statements when contacted by Nairametrics.

What they are saying

The Chief Executive Officer of CPPE, Dr. Muda Yusuf, said the planned visit by Tinubu to the UK is significant on multiple fronts—diplomatic, economic, security, reputational, and diaspora engagement.

“At a time of shifting global alliances and economic realignments, the visit presents both opportunity and responsibility.

• “It is expected that leading Nigerian business figures will accompany the President, creating a platform for expanding trade flows, deepening investment partnerships, promoting Nigeria as a destination for capital, and strengthening financial-sector linkages.
• _“The UK remains a major source of portfolio flows, development finance, and private-sector investment into Nigeria. Structured engagements during the visit could unlock opportunities in infrastructure, energy, financial services, technology, manufacturing, and agribusiness,” _Yusuf stated.

**LCCI seeks trade expansion, increased exports **

The Director General of the LCCI, Dr. Chinyere Almona, told Nairametrics that the visit represents a historic opportunity to recalibrate Nigeria–UK relations from traditional diplomacy to focused economic diplomacy.

• “At a time when Nigeria is implementing bold macroeconomic reforms, this visit should be leveraged to secure concrete commitments on trade expansion, long-term investment, and cooperation on the business environment.
• _“From the perspective of the Lagos Chamber of Commerce and Industry, the overriding objective should be to translate goodwill into measurable economic outcomes that strengthen Nigeria’s productive base and export capacity,” _she said.

According to her, recent data underscore the strategic importance of the UK to Nigeria’s economy, noting that in Q3 2025, Nigeria recorded capital importation of approximately US$6.01 billion, representing a significant year-on-year surge.

• “Notably, the United Kingdom emerged as Nigeria’s largest source of capital inflows, accounting for about US$2.94 billion, or nearly half of total inflows during the quarter. These inflows were driven predominantly by portfolio investment, particularly into the financial and banking sectors, reflecting renewed foreign investor confidence following Nigeria’s macroeconomic adjustments.
• “On the trade front, total trade in goods and services between Nigeria and the UK stood at approximately £8 billion in the 12 months to mid-2025,” she said.

She said, however, that the relationship remains structurally imbalanced, with UK exports to Nigeria significantly exceeding Nigeria’s exports to the UK.

• _“Ultimately, the economic agenda of this state visit should be guided by Nigeria’s most pressing challenges: export diversification, inflation-induced cost pressures, infrastructure deficits, and the need for stable long-term capital,” _Almona added.

**Backstory **

Tinubu’s state visit to the United Kingdom next week marks Nigeria’s first such visit to the UK in 37 years.

• The disclosure of the planned visit was made by the British Royal Family in a statement published on its official X (formerly Twitter) account late Saturday, February 7, 2026.
• The visit, which will see Tinubu and First Lady Oluremi Tinubu hosted by King Charles III and Queen Camilla, comes amid improving diplomatic and economic relations between both countries.

According to the Royal Family, the Nigerian leader will be in the UK from Wednesday, March 18, to Thursday, March 19, 2026, where he will be received with full state honours.

**What you should know **

Stakeholders’ call for deepened economic ties, especially export promotion, appears to align with the Federal Government’s recent drive to strengthen local production.

• Last year, Nairametrics reported that President Tinubu announced that the Federal Government would bar all Ministries, Departments, and Agencies (MDAs) from procuring foreign goods and services where local alternatives exist.
• The directive was among the key resolutions adopted at the Federal Executive Council (FEC) meeting and was announced in a statement by Sunday Dare, Special Adviser on Media and Public Communication to the President.

According to him, the Nigeria First Policy is designed to stimulate domestic production, enforce local content compliance, and overhaul the government’s procurement practices.

The FG said the policy is designed to stimulate domestic production, enforce local content compliance, and overhaul the government’s procurement practices.

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