Black gold strengthens partnership: Nigerian oil boosts trade with Britain

Written by Omnia Hassan

Crude oil continued to solidify its position as a key driver of economic relations between Nigeria The United Kingdom, after the volume of bilateral trade between the two countries jumped to £7.6 billion during 2025, is a clear indication of the continued dominance of the energy sector in trade despite increasing efforts to diversify Nigerian exports.

Oil tops Nigerian exports to Britain

Recent data from the UK Department for Business and Trade shows that crude oil remained the most prominent commodity among Nigeria's exports to the UK market, with the UK importing £719.2 million worth of crude oil last year.

British demand was not limited to crude oil, but also included refined petroleum products and natural gas. Britain's imports of refined fuels amounted to about £514.3 million, in addition to £167.8 million of gas, reflecting the growing importance of Nigeria as a strategic energy supplier in light of the turmoil in global energy markets.

Bilateral trade grew by 10.8%

According to the report, total trade between the two countries increased by 10.8% compared to the previous period, equivalent to an increase of £737 million, driven mainly by the rise in Nigerian energy exports.

Analysts believe these figures reflect Britain and European countries' efforts to diversify energy sources and reduce dependence on traditional supplies, which has strengthened Nigeria's importance as the largest producer of crude oil in Africa.

Limited non-oil exports

Despite the strong performance of the energy sector, Nigerian non-oil exports to Britain remain relatively limited. Exports of agricultural goods, such as coffee, tea and cocoa, amounted to only about £17.9 million, while exports of manufactured fertilizers reached £17.2 million.

These figures highlight the continued heavy reliance of the Nigerian economy on oil revenues, despite government plans to diversify income sources and boost industrial and agricultural exports.

Britain expands exports to Nigeria

In contrast, UK exports to Nigeria rose to £5.5 billion in 2025, an annual increase of 10.5%, with refined petroleum products topping the list of British exports at £1.1 billion, along with cleaning products, textiles and industrial machinery.

Britain also maintained a strong trade surplus with Nigeria of £3.3 billion, supported by growth in the services sector, particularly in finance, education and professional consulting, reflecting the expansion of the economic partnership between the two countries beyond traditional oil trade.