• Saturday, May 18, 2024
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UK to remove trade barriers between Nigeria— Secretary of state

UK to remove trade barriers between Nigeria— Secretary of state

.as Sanwo-Olu woos British investors

Kemi Badenoch, the United Kingdom (UK) Secretary of State for Trade and Business has affirmed the readiness of the British Government to eliminate trade barriers between her country and Nigeria.

Badenoch said the UK business community was excited about investing in Nigeria generally and Lagos, in particular. She spoke on Wednesday when she paid a courtesy visit to Governor Babajide Sanwo-Olu, at Lagos House, Marina.

“Primarily, I want to continue doing what my main job is, which is promoting British business and international trade all across the world and I visit many countries.

“And of course, when the opportunity arose, I wanted to come to Nigeria. As many people know, this is the country that I lived in when I was a child. And the first meeting that I had was a British business roundtable, which is businesses from the United Kingdom that are investing in Nigeria, mainly in Lagos.

“We want to make sure that we have the two-way trade. We know the challenges that Nigeria is having with foreign exchange. One of the ways that you can resolve that is exporting more and finding out what we can do on the United Kingdom side to reduce those trade barriers and ensure that business between the two countries goes as smoothly as possible.”

On his part, Governor Sanwo-Olu described Lagos as the best investment destination in Nigeria, urging investors from the UK to look in the direction of Nigeria’s largest economy state.

According to the governor, his administration has positioned Lagos as a destination of choice by ensuring a friendly business environment for investors. He stressed the need for increased trading activities to improve Nigeria’s economy, saying “Let us consume what we grow and grow what we consume to reduce our dependence on foreign currency.”

He added: “For us, we see a whole lot of opportunities that Lagos can be for our country while also identifying and managing the challenges that we need to deal with continuously.

“We will continue to make the environment investment and business-friendly. We will continue to make Lagos a destination of choice. We understand that people have choices but they can indeed make those investment decisions in Lagos.

“Lagos is one of the reference points not only in West Africa but in the whole of sub-Saharan Africa and we are excited that you are here. We are hoping that you have seen one or two things that you can take back and you can continue to assure the business community in the United Kingdom that Nigeria is ripe already and Lagos is a destination that they should consider.”