• Saturday, December 09, 2023
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Britain promises new investment in Nigeria

Britain promises new investment in Nigeria

The British Deputy High Commissioner for Lagos, Jonny Baxter, has pledged the commitment of his country to a stronger relationship with Nigeria, promising new investments.

Baxter’s representative, Chim Chalemera, head of the UK Government Department Business and Trade (DBT) Nigeria, who spoke at the Nigeria-Britain Association (N-BA) 2023 presidential cocktail at the residence of the British deputy high commissioner, in Lagos, emphasised the consistent support rendered by the British diplomat, highlighting events like the presidential cocktail as pivotal moments in cementing the strong ties between Nigeria and the UK

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Total trade in goods and services between the United Kingdom (UK) and Nigeria was £7.6 billion in the first quarter of 2023, an increase of 48.4 percent or £2.5 billion from the record of the fourth quarter of 2022, the UK Department of Trade and Business has said.

Nigeria accounted for £4.3 billion, an increase of 31.6 percent or £1 billion, compared to Q4 2022 while total UK imports from Nigeria amounted to £3.3 billion, an increase of 78.1 percent or £1.4 billion, compared to Q4 2022.

Speaking further, she reaffirmed the UK government’s commitment to supporting Nigeria and expressed their determination to attract more UK investments into the country. “We are friends; let us continue to be friends and work together for the common good,”

The event provided an opportunity for attendees to engage in fruitful discussions, exchange ideas, and explore potential collaborations, further strengthening the bonds between Nigeria and Britain.

Sola Oyetayo, president of the association, articulated his vision and thematic direction for the upcoming year and his desire to foster relationships with esteemed partners and friends.

He also highlighted the Association’s mission, its unwavering commitment, and the strategic direction set by the administration under the theme ‘The Big I.D.E.A – A New Chapter.’ While acknowledging the invaluable contributions of past presidents, including the vice patrons.

“The N-BA is a friendship organisation with members – individuals and organisations spanning Nigeria, Britain and other Commonwealth countries, therefore we warmly welcome individuals and organisations willing to join the Association,” he noted.

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The 2023 presidential cocktail stood as a testament to the N-BA’s dedication to fostering meaningful collaborations, strengthening diplomatic ties, and promoting investments between Nigeria and Britain.