Business
Nigeria, UK trade value hits £4.2bn yearly
The bilateral trade between Nigeria and the United Kingdom (UK) is valued at £4.2 billion per annum, British Minister for Africa, Harriet Baldwin, has said.
Baldwin disclosed this on Thursday in Abuja on the sideline of the visit of the UK Prime Minister, Theresa May, to Nigeria.
The minister, who was impressed with the trade relations between the two nations, assured that more business partnership would be announced.
According to her, Britain was already partnering with Nigeria in the area of green financing, along with other partnerships with the Nigerian government, which she said would create over 100,000 jobs in the country.
It would be recalled that the minister had announced plans by the UK Government to create 100,000 jobs in Nigeria, through a new £70 million programme between UK Fintech sector and the Nigerian Fintech sector, and to raise the income of three million people from the poorest parts of Nigeria.
In her remarks, Finance Minister Kemi Adeosun said Nigeria’s business environment has improved, urging UK investors to take advantage of the opportunities to invest in key sectors of the economy.
“There are lots of business opportunities in Nigeria and the government is addressing assiduously the impediments to the ease of doing business in Nigeria,” Adeosun said.
Read also: Nigerian economy is quite diversified -—NBS
Prime Minister May had arrived Nigeria on Wednesday after visiting South Africa on Tuesday as part of her tour of some African countries, which was described as “Africa Trade Mission.”
This her first visit to the continent since she took the reins from David Cameron in 2016.
The Prime Minister left for Nairobi in Kenya on Thursday, in continuation of the trade mission which is in an attempt to bolster Britain’s post-Brexit fortunes.
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