Nigeria Second Largest Destination Of UK Investments In Africa

The former Lord Mayor of the City of London, Sir Charles Bowman has said that Nigeria is the second-largest destination of UK Investment in Africa.

Bowman disclosed this while delivering a keynote speech at the investment showcase held at the historic Guildhall, London.

“With £5.1bn of investment stock and one-fifth of FTSE 100 companies has some form of presence in Nigeria.

“In addition, total trade in goods and services between the UK and Nigeria in 2018/19 was £5.1bn, an increase of 19.3% from the previous year, which illustrates the size and strength of trade and investment relationship between our two countries, “he said.

The event organised by the UK’s Department for International Trade, in collaboration with the City of London hosted over 100 Nigerian businesses and potential UK investors highlighting opportunities in some of the viable projects in the West African nation cutting across the agriculture, energy, healthcare, Infrastructure and ICT sectors.

It further outlined current progressive investment prospects in the Nigerian market to UK investors, and brought together leading figures in the public and private sectors, investment funds and financial institutions as the UK pursues its ambition of being the largest G7 investor in Africa by 2022.

During the showcase, Deputy High Commissioner to Nigeria, Harriet Thompson, facilitated as Seso Global, Farmcrowdy, Nordica Fertility Centre, jetWest Airways, Channeldrill resources Ltd and Century Energy Services and other Nigerian businesses presented their projects to investors from Credit Suisse, Infraco Africa, Standard Chartered, Black Rock, CDC, JP Morgan, Helios Investments and Wood group among others.