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UK to Host African Investment Summit in April 2024

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UK to Host African Investment Summit in April 2024

By: Michael Mike

The British Prime Minister, Rishi Sunak
will be hosting African leaders in London for the second UK-African Investment Summit between 23 and 24 April, 2024 building on the £6.5 billion of deals and £8.9 billion of investment commitments achieved at the 2020 summit.

A statement from the British High Commission in Nigeria on Thursday explained that the Summit aims to promote two-way trade and investment, creating jobs and growth and supporting women entrepreneurs.

The statement added that the announcement comes as HM Revenue and Customs sign an MoU with the Federal Inland Revenue Service to help increase Nigeria’s domestic revenues

The statement read: “The Prime Minister will host a UK-African Investment Summit in London on 23-24 April 2024. The Summit will bring together Heads of State and Government from 24 African countries with British and African business leaders. It will strengthen UK-African partnerships to create jobs and growth, supporting British and African talent in sectors such as finance and technology, and promote women entrepreneurs.

“The Summit will build on the results of the UK-African Investment Summit 2020 and virtual UK-African Investment Conferences in 2021 and 2022. The UK-African Investment Summit 2020 marked an important milestone in our partnerships with African countries and announced over £6.5bn of deals, plus a further £8.9bn of investment commitments.

“By 2050, two billion people will live in Africa, more than half will be under 25. During the next two years, faster economic growth is expected across Sub-Saharan Africa than the global average. And as the world faces the stark and shared challenge of climate change, the UK is working with African countries to support them to mitigate and adapt to its effects, recognising Africa’s abundant potential for renewable energies of the future.”

The British Prime Minister Rishi Sunak was quoted to have said: “To grow the UK’s economy, create opportunities for growth and bolster our economic security, we must deepen our ties with partners across the world.

“This summit will ensure we are able to harness the potential of our relationships across Africa and grow our economies together, making them stronger, resilient, and innovative.”

By facilitating business-to-business links, trade opportunities and investment, UK-AIS will help harness this potential for the creation of mutual prosperity, economic growth, jobs and a global transition to green energy.

Foreign, Commonwealth and Development Secretary, James Cleverly, working closely with the Secretary of State for Business and Trade and President of the Board of Trade, Kemi Badenoch, will lead work across Whitehall to prepare for the Summit.

The Foreign Secretary James Cleverly said: “The UK’s trade and investment relations with countries right across the African continent are delivering significant mutual economic benefits to all of us.
“Affirming the UK’s position as a leading investor in Africa, this second African Investment Summit in London will build on our successes since 2020 which have combined the strengths, innovations and expertise of the UK and our partners across Africa to support reliable, sustainable and long-term investment.
“The UK and Africa go far when we go together.”

The Foreign Secretary committed last December to focusing on partnerships of the future with countries whose economies, populations and ultimately influence globally are growing. He sees countries in Africa as central to this and is seeking to build on our partnerships across the continent on the basis of respect, mutual benefit, common interests, and, most importantly, by listening to African countries’ perspectives.

To further this commitment, the UK’s HM Revenue and Customs (HMRC) has today, signed a memorandum of understanding with the Federal Inland Revenue Service (FIRS) to help increase Nigeria’s domestic revenues.

The Memorandum of Understanding (MOU) will help ensure that Multinational Enterprises (MNEs) pay the right amount of tax in Nigeria. It will also help assess tax liabilities of firms and High Net Worth Individuals (HNWIs).

The UK and Nigeria have confirmed their shared interest in pursuing a potential Enhanced Trade and Investment Partnership (ETIP) which will offer an alternative high-profile mechanism to progress bilateral economic issues of mutual strategic importance.

This was agreed in November 2022 at the 8th and final UK-Nigeria Economic Development Forum (EDF) established primarily by former Prime Minister, Theresa May and President Muhammed Buhari in August 2018 to address market access barriers, respond to opportunities and challenges of doing business and boost bilateral trade and investment between the our two countries. Under the ETIP, both countries will continue to work together to resolve market access issues and enhance economic cooperation.

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International

Akande Presents Credentials to Swedish King, Sets Stage for Stronger Nigeria-Sweden Ties

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Akande Presents Credentials to Swedish King, Sets Stage for Stronger Nigeria-Sweden Ties

By: Michael Mike

Nigeria’s Ambassador to Sweden, Lola Akande, has formally assumed her diplomatic responsibilities in the Scandinavian country, presenting her Letters of Credence to King Carl XVI Gustaf at the Royal Palace in Stockholm.

The ceremony, held on Wednesday, marked the formal accreditation of Akande as Nigeria’s representative to the Kingdom of Sweden and opened a new phase in bilateral engagement between the two countries.

Akande was accorded ceremonial honours, including a corps marshal and formal procession, in keeping with Sweden’s diplomatic traditions, before presenting her credentials to the Swedish monarch.

The presentation of Letters of Credence is a key diplomatic procedure through which a receiving state formally recognises an ambassador as the accredited representative of the sending country.

Following the ceremony, a reception was held in Akande’s honour at the Nigerian House in Stockholm, bringing together members of the diplomatic community, government officials, business leaders and Nigerians resident in Sweden.

Those in attendance included ambassadors and members of the African diplomatic corps, officials of the Swedish Ministry for Foreign Affairs, members of the Corps of African Women Ambassadors, Swedish nationals, representatives of the Swedish business community and other invited guests.

The reception provided an opportunity to celebrate the ambassador’s accreditation and highlight the longstanding relationship between Nigeria and Sweden, as well as opportunities to deepen cooperation.

Areas identified for enhanced engagement include trade and investment, innovation, cultural exchange and people-to-people relations.

Akande’s formal accreditation comes as both countries continue to explore avenues for strengthening bilateral ties, with expectations that her tenure will promote closer engagement between Nigerian and Swedish institutions, businesses and communities.

The development also signals renewed diplomatic attention to the Nigerian community in Sweden and the broader prospects for expanding cooperation between Africa’s most populous country and the Nordic nation.

Akande Presents Credentials to Swedish King, Sets Stage for Stronger Nigeria-Sweden Ties

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NIS enrols 2,296 Nigerians in first week of UK passport intervention

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NIS enrols 2,296 Nigerians in first week of UK passport intervention

By: Michael Mike

The Nigeria Immigration Service (NIS) has enrolled 2,296 applicants in the first six operational days of its Special Passport Intervention Exercise in the United Kingdom, with the Manchester Centre recording the higher number of enrolments.

The exercise, which commenced on September 7, 2026, recorded 1,709 applicants at the Manchester Centre and 587 at the London Centre, as Nigerians with confirmed appointments continued to turn out for passport services.

Daily enrolment figures across the two centres stood at 245 on September 7, 401 on September 8, 396 on September 9, 429 on September 10, 406 on September 11 and 419 on September 12.

The Service said the sustained turnout reflected steady progress in the processing of applicants with confirmed appointments, adding that passport production and dispatch for those already enrolled had commenced and were progressing steadily.

As part of efforts to ensure effective oversight and quality service delivery, the Comptroller-General of the NIS, Kemi Nanna Nandap, undertook working visits to the intervention centres in Manchester and London.

The visits, according to the Service, were aimed at assessing the exercise firsthand, engaging with members of the Nigerian community and ensuring that the intervention provided efficient, responsive and seamless passport services to applicants.

The NIS said the exercise would continue at both centres, assuring applicants with confirmed intervention appointments of service.

The Service said it appreciates members of the Nigerian community in the UK for their patience, understanding and cooperation, urging all applicants to continue working with officials on the ground to ensure the smooth and efficient delivery of the intervention.

NIS enrols 2,296 Nigerians in first week of UK passport intervention

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China’s $2.3bn Nigerian Buy-Up: Beijing Opens Bigger Market for Abuja

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China’s $2.3bn Nigerian Buy-Up: Beijing Opens Bigger Market for Abuja

By: Michael Mike

Nigeria may be on the verge of a major shift in its trade relationship with China as the Asian economic giant imported almost $2.3 billion worth of Nigerian goods in just six months, marking an almost 80 per cent increase over the same period in 2025.

The sharp rise, disclosed by the Chargé d’Affaires of the Chinese Embassy in Nigeria, Zhou Hongyou,on Thursday in Abuja, comes as total trade between both countries surged by 75 per cent year-on-year to $18 billion.

The figures are significant for Nigeria, which has long struggled to translate its enormous agricultural, mineral and manufacturing potential into sustained export earnings.

Zhou, speaking at the Nigeria-China Food Festival at the China Cultural Centre, said Beijing’s zero-tariff policy for African countries with diplomatic relations with China presented Nigeria with an opportunity to dramatically expand its exports to the Chinese market.

“This is a great chance for Nigeria to expand exports to China,” the diplomat declared.

The statement effectively puts the spotlight on Nigeria’s ability to exploit preferential access to one of the world’s biggest consumer markets at a time when the Federal Government is under pressure to increase non-oil exports, generate foreign exchange and create jobs through expanded domestic production.

The nearly $2.3 billion already purchased by China from Nigeria in the first half of the year suggests that demand exists. The bigger question, however, is whether Nigerian producers can scale up production, meet international standards and consistently supply the Chinese market.

The latest development also gives fresh significance to efforts to diversify Nigeria’s trade beyond crude oil.

For decades, Nigeria’s export earnings have been heavily dependent on petroleum, while China has emerged as one of Nigeria’s most important trading partners. The latest figures indicate that the relationship is expanding beyond the traditional pattern of trade and could provide a platform for Nigerian agricultural products, processed foods, solid minerals and manufactured goods to gain wider access to China.

Zhou said the growing economic relationship was being matched by increasing cultural and people-to-people exchanges, noting that 2026 marks 55 years of formal diplomatic relations between Nigeria and China.

He urged both countries to deepen cooperation in education, culture, technology, the arts and youth affairs, arguing that stronger people-to-people ties would help sustain the bilateral relationship for future generations.

The Chinese envoy’s remarks came against the backdrop of the Nigeria-China Food Festival, where food was used to demonstrate the potential of cultural exchange and the economic value of Nigeria’s culinary heritage.

Representing the Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musawa, the Permanent Secretary, Abdulkarim Ibrahim, said Nigeria’s food industry represented a major economic opportunity, particularly through tourism, hospitality and job creation.

He said food and beverages constituted the largest subsector of Nigeria’s tourism economy and called for greater Nigeria-China collaboration in gastronomy, tourism, hospitality, culinary education and creative entrepreneurship.

The Director-General of the National Institute for Hospitality and Tourism, Aare Abisoye Fagade, said Nigeria’s diverse culinary traditions could be transformed into a globally competitive food-tourism industry if properly packaged, standardised and commercialised.

The event also demonstrated the potential of cultural diplomacy, with Nigerian and Chinese artistes combining traditional Nigerian drums with Chinese percussion instruments.

The National Troupe of Nigeria’s Director-General and Artistic Director/CEO, Hajia Kaltume Bulama Gana, said such collaborations could deepen mutual understanding and open opportunities for Nigerian artistes to perform in China.

Former NIHOTOUR Director-General, Alhaji Munzali Dantata, who studied in Beijing decades ago, also urged stronger cooperation, particularly in education and cultural exchanges.

But beyond the colourful displays of food, music and culture, yesterday’s event highlighted a far bigger economic proposition: Nigeria now has an expanding Chinese market, and the scale of future gains will depend largely on what the country can produce and export.

With Chinese imports from Nigeria already approaching $2.3 billion in six months and bilateral trade reaching $18 billion, the emerging challenge for Abuja is to ensure that the growth translates into more Nigerian-made products, stronger local industries, foreign-exchange earnings and jobs rather than merely higher volumes of trade.

For Nigeria, the opportunity presented by Beijing’s zero-tariff policy could therefore become a test of whether the country can finally convert its vast productive capacity into sustained export power.

China’s $2.3bn Nigerian Buy-Up: Beijing Opens Bigger Market for Abuja

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