International
UK to Host African Investment Summit in April 2024
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.
UK Expresses Commitment to Restoration of Peace in Northeast
By: Michael Mike
The United Kingdom has expressed its commitment to the restoration of peace, stability and sustainable solutions to the troubled Northeast region which has been bedeviled by insurgency.
The British Deputy High Commissioner, Gill Atkinson made the commitment on Monday when she paid a courtesy call on Borno State Governor Babagana Zulum in Maiduguri.
Atkinson who commended Zulum for his commitment to fighting insurgency in Borno, said: “On behalf of the British Government, I recognise the effort of His Excellency, the Governor, in tackling insurgency and supporting the people of Borno State, particularly aiming to secure a prosperous future for the people displaced by insurgency.
“I want to reaffirm the UK’s commitment to supporting peace, stability and sustainable solutions, particularly through the ongoing regional stabilisation facility.”
Responding, the Secretary to Borno State Government who received the Deputy High Commissioner on behalf of Governor Zulum, expressed appreciation to the UK Government for their partnership and support.
He said,: “With the UK Government to start with, we have quite a number of very strong partnerships. His Excellency appreciates it, and he specifically instructed me to convey the special message of appreciation.”
The meeting was attended by the Commissioner for Environment, Engr Emet Kois, Education, Engr Lawan Abba Wakilbe, Work and Housing, Engr Mustapha Gubio, Transport and Energy, Aliyu Mohammed Bamanga and Inter-Governmental and Special Duties, Tukur Shani.
Others in attendance include Special Adviser on Security to the Governor, Abdullahi Ishaq, the Senior Technical Assistant, Political, to the Governor, Alhaji Tahiru Shettima, Permanent Secretary of political and cabinet, Danjuma Ali, and the Executive Secretary of Borno State Agency for Coordination of Sustainable Development and Humanitarian Response (BOACSDHR), Babakura Mamman Gadai.
UK Expresses Commitment to Restoration of Peace in Northeast
Troops Foil Bandit Attack in Dabai Town, Kebbi
By: Zagazola Makama
A swift response by the Nigerian troops in Kebbi has foiled a bandit attack on Dabai Town, forcing the assailants to flee after a gun battle with security operatives.
Intelligence sources told Zagazola Makama that the attack occurred around 2 a.m. when suspected bandits attempted to invade the town.
“Security forces were immediately dispatched to intercept the assailants and engaged them in a fierce exchange of gunfire,” the source said. “Overwhelmed by superior firepower, the bandits abandoned their mission and escaped.”
While no casualties were reported, security operatives have intensified patrols in the area to prevent further attacks.
Troops Foil Bandit Attack in Dabai Town, Kebbi
U.S. Condemns Killing of Catholic Priest in Kaduna
By: Zagazola Makama
The United States Mission in Nigeria has condemned the brutal killing of Reverend Father Sylvester Okechukwu in Kaduna State, describing it as a senseless act of violence.
In a statement posted on its official X (formerly Twitter) account, the U.S. Mission expressed deep distress over the incident and extended condolences to the family, congregation, and community of the late cleric.
“We strongly condemn this horrific act of violence. Our thoughts are with them during this time of profound grief,” the statement read.
The mission also called on Nigerian authorities to ensure that those responsible are brought to justice.
Father Okechukwu’s killing has sparked outrage and renewed calls for enhanced security measures, especially in regions affected by banditry and violent attacks.
The Kaduna State Police Command has yet to issue an official statement on the incident, but security agencies are reportedly investigating the circumstances surrounding his death.
U.S. Condemns Killing of Catholic Priest in Kaduna
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