Nigerians in UK have £6bn investment potential

Nigerians in the United Kingdom have a collective investment potentials of more than £6 billion (about N1.5 trillion), according to the Executive Director of Nigerians in Diaspora Direct Investment Summit (NDDIS) Bimbo Folayan.

Speaking at a press conference in London, Folayan said recent research and estimates which put the number of Nigerians in the UK at more than 2million with one million families, indicated that there are about half a million business leaders within the community.

He, therefore, called on diaspora Nigerians in the UK and elsewhere to avail themselves of the “unexploited opportunities” back home to invest and contribute to the economic development of their country.

He also urged governments and investment authorities in Nigeria to liaise with diaspora Nigerians and British entrepreneurs to attract investments in their respective areas.

He announced that the second NDDIS conference would be held in the UK in June this year, and described it as an avenue for Nigerian authorities and investors to showcase their investment potentials and incentives for investors.

He said the conference will be held in conjunction with UK Trade and Investment, Business Council for Africa, British African Business Alliance, and the Foreign and Commonwealth Office, among others.

In his remarks, the Chairman of British African Business Alliance, David Smith said his organisation would mobilise companies and organisations to establish businesses in Nigeria and Africa.

He stated that if properly harnessed, small and medium scale enterprises would create more than four million jobs in Nigeria.