Shortly after he arrived at Murtala Muhammed International Airport last week, the Briton was abducted in Lagos's Ikeja neighbourhood as he was travelling towards the city centre.
His driver was reportedly shot and injured in the incident.
The British High Commission did not clarify the terms of his release and no comment was made on whether a ransom was paid.
There has been a wave of kidnappings targeting foreigners in oil-rich southern Nigeria, with hostages typically released after the payment of ransom.
In March a British man working for French energy company CGG was kidnapped in the upscale Victoria Island area of Lagos. He was released days later, with officials refusing to confirm reports that a ransom had been paid.