UK-Africa Investment:Nigeria Secures Commercial Deals Worth N153.4bn From UK

The Federal Government has been able to secure commercial deals worth over ₦153.4billion from the inaugural UK-Africa Investment Summit which was held in London.

President Muhammadu Buhari, who led a delegation from Nigeria, held meetings with Prime Minister Boris Johnson and His Royal Highness the Prince of Wales.

In a statement on the outcome of the summit, the UK said “deals worth £324 million (over ₦153.4billion) were announced by Savannah (gas assets); Low Energy Designs (street lighting); Trilliant (smart metering for Abuja DisCo); and Tex ATC (airport control room towers).

BUHARI URGES BRITAIN TO GO AFTER NIGERIAN FUGITIVES IN UK

The UK also announced that significant commitments will be shown to support Nigeria by developing an enabling environment to turbo-charge economic growth, including helping address land issues for investment; strengthening and improving the finance sector; helping entrepreneurs secure access to finance; preparing the ground for the launch in the UK of naira-denominated bonds – “Jollof Bonds”; and developing the tech sector.

The statement said the UK government, through the Department for International Trade (DIT), will provide an Investment Promotion Programme worth ₦13.1billion for Nigeria and South Africa to stimulate Foreign Direct Investment and facilitate technology and knowledge transfer.

Other benefits announced at the summit include the newly launched £55m (₦26billion), Land Transformation Facility, a £320m (₦152billion) UK Financial Sector Deepening Platform currently running in 45 Africa countries, including Nigeria.

It added that the UK government will invest up to £45m in Nigeria, Kenya, and South Africa to support inclusive connectivity and digital literacy, build cybersecurity capacity, and establish Tech Hubs to grow the digital economy.

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SOURCE :The Nigerian Voice (business)

35 thoughts on “UK-Africa Investment:Nigeria Secures Commercial Deals Worth N153.4bn From UK

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