‘UK Generated £1.9bn from Export to Nigeria in 2020’
The British Deputy High Commissioner to Nigeria, Ben Llewellyn-Jones has revealed that British firms operating in Nigeria were able to generate £1.9 billion through exports to Nigeria in 2020.
He likewise put total imports from Nigeria to the United Kingdom (UK) in 2020, at £1.3 billion.
He made this known over the weekend at the Nigeria-Britain Association’s Presidential Cocktail, held in Lagos, with the aim of providing an opportunity for the newly elected President of the association, Abimbola Okoya, to share her vision to friends and partners of the association.
According to Llewellyn-Jones, Nigeria has over time been perceived to be a difficult environment for business; hence the two countries must collaborate to correct the poor perception.
He said the above view doesn’t accurately portray the complete reality of the collaborative business environment between the UK and Nigeria, saying oftentimes, this has caused opportunities aimed at enhancing business relationships between both countries, being overlooked.
According to him, “the history of success for British firms operating in Nigeria is robust, total UK exports to Nigeria amounted to £1.9 billion in the four quarters to the end of Q4, 2020.
“Also, total UK imports from Nigeria amounted to £1.3 billion in the four quarters to the end of Q4, 2020. We are glad N-BA has created this platform to help promote the Nigeria-UK relationship.
“I am pleased to reiterate that our bilateral relationship is a strong one based on shared history, shared values and shared interests.
“The British Government recognises the great potential in Nigeria and I am optimistic that the Nigeria-UK relationship will continue to flourish.
“Nigeria’s success matters to the UK and it is in all of our interests to turn these opportunities into sustained growth by continuing to work together,” he said.
Also speaking at the event, Okoya said the Nigeria-British Association was committed to continue to strengthen ties between both countries, along with the collaborative vision of the founders of the association.
“We will continue to create an identity that reflects the bonds of mutual understanding, cultural exchange and friendship between Nigerians, Britons and members of the Commonwealth, towards a common goal,” she noted.
The Nigeria-British Association is a non-profit organisation that has existed for over 50 years, with the aim of improving economic and socio-cultural ties between Nigeria, Britain, and the Commonwealth.