Agency increases financial support for UK firms in Nigeria

UKexport Finance (UKEF), the export finance agency of the United Kingdom (UK) government, has confirmed that it has doubled the country’s limit for companies desiring to do business with Nigeria from £750m to £1.25b.

UKEF has also entered into a strategic partnership with Nigeria’s Export - Import Bank (NEXIM) to forge stronger relationships in promoting investments, regional and global trade between Nigeria and the UK.

Consequently, both countries have signed a Memorandum of Understanding (MOU) to foster greater co-operation in trade through co-financing in the form of guarantees and insurance.