UK group to facilitate infrastructure development projects in Nigeria

UK Export Finance ( UKEF) is to help facilitate infrastructure development projects as well as explore the growing commercial opportunities in key sectors in Nigeria.

The sectors are renewable energy, financial services, manufacturing, technology, security, infrastructure and the creative industry.

Press and Public Affairs Officer Communications Lead, Prosperity and Economic Development, Foreign Commonwealth and Development Office, Ndidiamaka Eze, revealed this in a statement ahead of the UK Minister for Exports and Equalities, Mike Freer’s MP visit to Nigeria.

According to her, Freer’s visit to Nigeria will further strengthen the trade and economic ties between the countries.

The visit, she said, followed shortly after the seventh UK and Nigeria Economic Development Forum, which held on April 2022 and was hosted by the UK’S Minister of State for Trade Policy, Penny Mordaunt in London.

“During his trip, Minister Freer will visit the Apapa Port, Nigeria’s largest and busiest port, to learn more about the challenges and opportunities to support trade facilitation between the UK and Nigeria.

“The visit will also include a meeting and tour of Eko Atlantic, Nigeria’s first Green City, to explore ways in which the UK can help support Nigeria’s transition to clean energy.

“While in Lagos, the Minister will visit the UK pavilion at the Securex West Africa Conference, Africa’s largest exhibition for security, fire and safety industry professionals, where he will meet with leading British business representatives showcasing their innovative cyber security solutions,” Eze said.

Freer expressed his delight to be in Nigeria to strengthen economic ties and explore ways in which the UK can stimulate and increase trade between both nations.

“As Africa’s largest economy, Nigeria has huge commercial opportunities for UK businesses to take hold of. Together with our partners in Nigeria, we want to unlock the full potential of our bilateral partnership to support Nigeria’s growing economy and deliver inclusive prosperity,” he said.

The British Deputy High Commissioner in Lagos, Ben Llewellyn- Jones said: “We are pleased to welcome Minister Freer to Nigeria to showcase the growing commercial opportunities available in sectors such as renewable energy and infrastructure.

“Nigeria is a vital trading partner for the UK and we are committed to working more closely to ensure trade and investments in Nigeria are sustainable and inclusive using the UK’S world- leading innovation and technology.”

Bilateral trade between the UK and Nigeria reached £ 3.5 billion in the four quarters to the end of Q3 2021, an increase of 1.9 per cent.