70 Nigerian companies set to participate at the maiden Uk-Africa summit

Not fewer than 70 Nigerian companies will participate at the maiden UK-Africa summit which begins on Monday, January 20th in London.

The meeting is organised to create collaborative investment opportunities for both Nigerian and British companies.

This summit would give the British investors insight into why investing in the Nigerian market would be mutually beneficial.

The Deputy British High Commissioner to Nigeria, Lagos Consulate Harriet Thompson, disclosed during the January 2020 Nigeria-British Chamber of Commerce breakfast meeting.

According to her, the summit which will be hosted by the UK Prime Minister Mr. Boris Johnson will also have in attendance over 20 heads of states from Africa.

She said the summit would serve as an opportunity to deepen the Anglo-African trade level which needs significant improvement.

The summit would be the first major UK high-level engagement in the year 2020 and comes at a crucial time it prepares for “BREXIT” by January 31st, 2020.

Harriet Thompson was hopeful that Nigeria would be able to make its pitch to British investors at the forum and attract new investments.

The UK Diplomat said for Nigeria to achieve its target of uplifting millions of people from poverty; the private sector has to grow and play a major role in the economy.

She believed Nigeria had the opportunity to mobilize investments into areas like Infrastructure, agri-business, energy and technology that can unlock the economy and create more jobs in the country.






     

     

    Through the summit, the UK seeks to sustain its goal as the biggest G-7 investor in Sub-Saharan Africa.

    With 70 Nigerian companies participating in this summit, ideas would be open to how foreign direct investment stimulates Nigeria’s economic development, creating a more conducive environment for investors and benefits for the local industry.

    The foreign direct investment would create new jobs, as investors build new companies in Nigeria, create new opportunities. This leads to an increase in income and more buying power to the people, which in turn leads to an economic boost.

    The Nigerian delegation is led by President Muhammadu Buhari, who had already travelled to the UK with some state governors and will be accompanied by key ministers.

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