Brexit: More UK businesses to visit Nigeria, says envoy
There are indications that more British business companies will invest in Nigeria, following the exit of the United Kingdom from the European Union.
The UK Trade Envoy to Nigeria, John Howell, stated this, Wednesday, on the floor of the Nigerian Stock Exchange (NSE), when he visited to perform the Closing Gong ceremony.
Howell, in his brief address, hinted that part of the effects of UK’s withdrawal of her membership from the European Union was that “the UK business community will do more businesses in Nigeria.”
Howell’s comment was, however, in sharp contrast with the earlier response of many Nigerian investors to Brexit who, after the announcement was made in June, developed fear that led to low sentiment on the Nigerian bourse.
Meanwhile, at the close of market, yesterday, market index nosedived by 0.56 per cent as market capitalisation shed N54bn and the All-Share Index lost 158.66 points to close at N9.633trn and 28,046.96 absolute points respectively.
The session also ended with declining stocks outnumbering gaining ones in the ratio 27 to eight, while 10 other stocks closed flat.