What To Expect As May, Merkel Visit Nigeria

British Prime Minister Theresa May will visit Nigeria on Wednesday.

May will meet with President Muhammadu Buhari in Abuja and also spend time in Lagos, where she is expected to visit victims of modern slavery, a statement by the UK government, says.

The Prime Minister is also scheduled to visit Kenya and South Africa.

The visit comes at a time when UK is moving towards Brexit, with experts speculating that May will seek a more robust investment opportunities for her country in African economies.

Recall that in June 2017, Nigeria’s international trade with United Kingdom recorded a negative growth, its first since 2009.

The value of imports from the UK to Nigeria grew by 28 per cent year-on-year from N283.76bn, while export to the UK from Nigeria shrank by 28 per cent from N414.85bn in 2015.

Analysts said that it was a reflection of the state of foreign trade in the country in 2016, in which imports out performed exports by N290.13bn as a result of the plunging revenue from crude oil exports.

This came on the backdrop of a statement by Adedapo Adelegan, president of the Nigerian-British Chamber of Commerce (NBCC), who claimed that the volume of trade between Nigeria and the United Kingdom could exceed N7.7 trillion (£20 billion) by 2020.

“Despite recession, I see the trade surpassing £20 billion, which was earlier projected for 2020. The value of trade between Nigeria and the UK is about £8 billion, and oil & gas made up 60 percent of this figure before,” Adelegan said at the 40th anniversary press conference organised by the chamber in Lagos, last year.

According to a Commonwealth report, Nigeria’s export to the UK may be further strengthened with the new trade and investment arrangements given that a number of professional service sectors are patterned after the UK’s. Also, there are enough similarities between the two countries to propose the signing of mutual agreement for identified professional service sector.

May is expected to come to Nigeria this week with 29 representatives from UK business, comprising small and medium enterprises SMEs, from across Great Britain.

“The Prime Minister’s central message will be focused on a renewed partnership between the UK and Africa, which will seek to maximise shared opportunities and tackle common challenges in a continent that is growing at a rapid pace – from the Sahara to South Africa,” the UK government said in a statement.

“As Africa seeks to meet the needs of its growing population the visit will also emphasize that it is in the world’s interest to help secure African stability, jobs and growth because conflict, poor work prospects and economic instability will continue to encourage migration and dangerous journeys to Europe.

“Because nations cannot prosper without security, the prime minister will also use the visit to announce further support to tackle instability across the region.”

May was quoted to have expressed her excitement in leading the business delegation to Africa.

“Africa stands right on the cusp of playing a transformative role in the global economy, and as longstanding partners this trip is a unique opportunity at a unique time for the UK to set out our ambition to work even closer together,” the Prime Minister said.

“A more prosperous, growing and trading Africa is in all of our interests and its incredible potential will only be realized through a concerted partnership between governments, global institutions and business.

“As we prepare to leave the European Union, now is the time for the UK to deepen and strengthen its global partnerships. This week I am looking forward to discussing how we can do that alongside Africa to help deliver important investment and jobs as well as continue to work together to maintain stability and security.”

Meanwhile, German Chancellor, Angela Merkel is also expected to visit Nigeria later this week.

Merkel will lead an economic delegation to the country, Deputy Government Spokeswoman, Ulrike Demmer said Friday in Berlin.

She will hold talks with President Buhari.

Migration politics, particularly Merkel’s campaign to tackle the causes resulting in a stream of refugees to Europe, are likely to feature on the discussion agenda.

The chancellor is also to take part in a German business-organised round table that will focus on private investment linked to the G20 “Compact with Africa” initiative.

She will also visit Senegal and Ghana.

Earlier this month, Dr. Gerhard Wahler, Head of Department, European and International cooperation of Konrad Adenaeur Stiftung (KAS), a German Foundation, described Merkel’s visit as an important sign that Germany stands with Nigeria in socio-economic development and security.

“Africa and especially Western Africa, plays a pivotal role for us in Germany; in many ways, Africa shows a lot of potential.

“There is a new generation of entrepreneurs, digital natives and inventors that can and will shape the future of the continent,” Wahler said this in Abuja during the celebration of 15 years of KAS operation in Nigeria, on August 3, 2018.

It is believed that both world leaders are visiting Nigeria to improve on trade relations and foster socio-economic development between Nigeria, as the country is seen as an investment hub of the West.

It is no coincidence that both the German Chancellor and the British Prime Minister are coming with a large delegation, mostly comprising of economic and business.

Economic experts believe that the visits will benefit both countries, Nigeria especially, as the country seeks to boost global economic trade.