King Charles III: Nigeria an economic powerhouse has not merely changed, it has arrived
But who could have imagined that, when I first visited Nigeria thirty-six years ago today, so many of those I might have met would have gone on to have such
- Femi Orebe
But who could have imagined that, when I first visited Nigeria thirty-six years ago today, so many of those I might have met would have gone on to have such an impact in the United Kingdom. From Afrobeats filling our concert halls and Nollywood captivating our screens, to stars competing in our Premier League and adjudicating our highest courts, so much of Britain's culture is, in truth, profoundly enriched by Nigeria. Whether they are Nigerians who have chosen Britain as their adopted place to invest, trade or study, or Britons who cherish their personal connection to Nigeria, they all represent a living bridge of over half a million people who connect our nations, and help make our cultures richer, our shared security stronger and our economies more prosperous"-King Charles 111.
President Bola Ahmed Tinubu's state visit to the United Kingdom, 18 - 19 March 2026—the first by a Nigerian leader in 37 years—that is, after IBB in 1989 -was far more than a routine diplomatic trip. Held at the Windsor Castle from the 18th, it was followed by talks at 10, Downing Street. It blended royal pageantry, even extravaganza, with hard-nosed negotiations, giving observers a clear view of the political and economic stakes for both countries.
The visit, the first by a Muslim Head of state during Ramadan to the English royalty, saw the King describe the relationship as
a “partnership of equals", praising Nigeria as an “economic powerhouse”.
For us Nigerians, the fact that President Tinubu became the first Nigerian president, ever, to speak at Windsor Castle was a symbolic elevation of Nigeria's status within the Commonwealth of Nations and an irrefutable counter-weight to perceptions of a President pre-occupied with foreign travels amidst domestic insecurity. Domestically, the Tinubu government can, with more than considerable justification, frame the visit as an affirmation of its “4D” foreign policy (democracy, development, demography, diaspora) and, indeed, as a moment to showcase Nigeria as a regional power house.
There is more, as the visit must have, among other things,
reinforced security and diplomatic coordination between the two countries when President Tinubu met with Prime Minister Keir Starmer to advance the Nigeria-UK Strategic Partnership, as well as the Enhanced Trade and Investment Partnership, signed in 2024.
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These discussions would,no doubt, have covered defence cooperation—training, intelligence, counter-terrorism and maritime security; building on Britain's historic support in the Gulf of Guinea. With jihadist violence still killing thousands a year, especially in Northern Nigeria, the North must have come into prominent play with President Tinubu seeking assistance in stopping the invasion by Sahelian
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Islamic Jihadists and the like.
The talks are, therefore, sure to translate into safer streets, farms etc and increased productivity back home in Nigeria.
Politically, the Diaspora dimension was front, and centre as no less than 250,000 Nigerians live in the UK, with their annual remittances home to friends, and family, as well as for investments in the local economy, for a long time now being a major part of Nigeria's foreign exchange earnings.
To emphasise this fact, President Tinubu attended receptions organised by Diasporan leaders and business personalities, aimed at mobilising funds for investment purposes.
At a time when some people are eager to turn religion into a bogey in Nigeria, the visit's interfaith touches saw First Lady, Oluremi Tinubu preaching at Lambeth Palace, while prayers were arranged for the President's Ramadan fast, signalling sensitivity to religious pluralism which King Charles explicitly praised.
Quite expectedly,
Economics drove the substance of the visit.
Bilateral trade between the two countries in 2025 was £8.1 billion and, for a very long time, the UK has been Nigeria's top European partner.
No surprises then, that the visit eventuated in the signing of a £746 million UK Export Finance loan to rehabilitate Lagos' Apapa and Tin Can Island port complexes—Nigeria's maritime gateways handling most imports into the country. Modernisation of these facilities will reduce business costs, moderate inflation as well as boost revenue generation.
Beyond that, many ministers were on hand to negotiate discussions and memoranda across sectors like solid minerals, digital economy, creative industries, education, climate and finance. President, Tinubu, an accountant by training and former oil executive, must have intentionally pitched reforms in mining, energy and tech to attract British capital. This will, in addition, channel UK expertise into infrastructure, health, and technology—areas where Britain has a distinct edge over Nigeria.
To maximally profit from these openings, however, Nigeria must strive to cure its massive structural problems as in its acute electricity shortages, double-digit inflation, and security risks, all of which are anti-thetical to investment, when they actually, don't encourage capital flight. Having
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these inefficiences cured will attract external financing in several sectors, as well as, positively impact diversification of the Nigerian economy.
Knowing full well that a state visit of this nature is about the highest honour the British crown can bestow on any foreigner, it may be pertinent to enquire into what must have predisposed King Charles into extending such to President Tinubu of Nigeria, a country once described by a now better forgotten British Prime Minister as being "fantastically corrupt".
Many actually
wondered along these lines when, on 10 February, 2026, the news broke that His Royal Majesty, King Charles 111, has extended such an invitation .
And knowing some Nigerians as I do, they would only have short of saying the King must have been bribed into doing so.
But to have wondered at the invitation would be to completely under rate the massive job President Tinubu has done stabilising a country which was reeling in debts, so bad it could not even pay off the debts owed by its travelling public to foreign airlines.
As at May 29, 2023, when he assumed office, the country was facing a massive backlog of trapped funds belonging to foreign airlines due to foreign exchange shortages.
At its peak in June '23, the trapped funds was hovering between $800 million to $850 million, making Nigeria the world's highest debtor regarding blocked airline funds, with the result that many airlines reduced flights while others threatened to suspend their services. Add to that the N22.7 Trillion the Federal Government of Nigeria was owing the Central Bank of Nigeria in accumulated Ways and Means advances.
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But with pure sure-footedness, the President embarked on some rapid fire actions like removal of the subsidy regime and the unification of the multiple exchange rate windows with the adoption of a "free float" policy. That way, the President succeeded in turning the economy around.
It all looked like magic
But none of these things could have escaped the eagle eyes of London, one of the world's top two global financial hubs and which is also regarded as the world's largest foreign exchange trading hub, accounting for about 38% of global FX.
Nor can Britain, herself eager for a reset of her contemporary position in Africa where China is increasingly becoming very dominant, be oblivious of the fact that Nigeria, her former colony, is aggressively inching towards becoming a Trillion dollar economy.
The invitation by King Charles 111 to President Tinubu to visit was, therefore, in my view, a well - calibrated, absolutely commonsensical and mutually rewarding move by his Majesty.
His humility throughout the visit, I must note, was touching.
Concluding, President
Tinubu's alluring UK state visit is, no doubt, a status marker; a security dialogue and a Diasporan outreach, all rolled into one. Economically, it locked-in port financing and opened doors for investment far beyond our famed oil. The Windsor banquet underlined a colossal respect from a one - time colonial master. The visit is, certainly, substance over pageantry.
