Latest news with #UK-Nigeria
Business Insider
22-07-2025
- Business
- Business Insider
UK-Nigeria business ties strengthen following London mayor's first Africa visit
The United Kingdom is deepening economic and tech ties with Africa, with Lagos at the center of this push, as highlighted by London Mayor Sadiq Khan's recent visit. The United Kingdom is strengthening its economic and technological collaboration with Africa, focusing on Nigeria as a pivotal center. Lagos was highlighted as Africa's fastest-growing tech ecosystem during the Mayor of London's visit to the city. Discussions during the visit revolved around digital innovation, trade, and collaboration between UK and Nigerian businesses. This growing alignment was highlighted during the Mayor of London, Sadiq Khan's recent visit to Lagos, where a high-level tech delegation met with Nigerian innovators and business leaders to explore collaborative ventures and partnerships. It was the first official visit to the continent by a sitting Mayor of London — a symbolic and strategic gesture that highlighted the increasing importance British officials are placing on Africa's fast-growing markets. At the centre of discussions were digital expansion, trade facilitation, and cross-border innovation, with Lagos, Africa's fastest-growing tech ecosystem positioned as a natural gateway. Khan hails Lagos tech innovation During his landmark visit to Lagos, London Mayor Sadiq Khan praised the city's booming tech scene, calling Yaba's innovation hub 'Yabacon Valley' and describing it as a symbol of Nigeria's immense potential. ' We come not as patrons, not in a patronising way, ' Khan told ARISE NEWS. ' I recognise the history of the UK and Nigeria has not been an equal one in the past. The new government's reset relations — we've come as partners.' Accompanied by a delegation of top London firms in fintech, sustainability, and other sectors, Khan highlighted Lagos as ' the fastest growing tech cluster in the world, ' lauding its ' ambition, energy and great ideas.' UK-Nigeria business ties deepen According to Mayowa Olugbile, CEO of Itana, Africa's first Digital Special Economic Zone, British businesses are increasingly recognising Nigeria's youthful talent pool, vibrant startup culture, and growing digital infrastructure as strategic advantages in today's competitive global landscape. ' This is a relationship that has huge potential,'. 'More businesses from London expand into Africa than from any other city in the world, while the bilateral trading relationship between the UK and Africa continues to rise. ' he told Business Insider Africa Olugbile added that the natural synergies between both regions are becoming more apparent, noting: 'As the Mayor observed, Lagos is the fastest growing tech cluster anywhere in the world, while London is the largest tech hub in Europe and a global hub for trade and finance.' As both governments lean into this evolving partnership, the Lagos visit is seen not just as a diplomatic mission but as a catalyst for long-term investment, joint innovation, and shared economic growth across both regions.
Zawya
15-04-2025
- Business
- Zawya
Nigeria Strengthens Trade and Investment Ties with the United Kingdom (UK) During the Commonwealth Trade and Investment Summit
Nigeria's Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, successfully concluded a series of high-level engagements in London, reinforcing Nigeria's commitment to fostering trade and investment partnerships with the UK. The visit, anchored around the Commonwealth Trade and Investment Summit held on 7-8 April, provided a vital platform to showcase Nigeria's strategic economic priorities and attract investment into key sectors. During her visit, Dr. Oduwole participated in two exclusive events hosted by Invest Africa, engaging with top-tier stakeholders, business leaders, and investors. These engagements underscored Nigeria's dedication to economic diversification, investment mobilisation, and strengthening the London-Lagos investment corridor. On 8 April, the Minister delivered a keynote address at an Invest Africa-hosted roundtable, where she outlined Nigeria's investment potential and strategic trade policies. The discussion focused on boosting non-oil sectors, promoting ease of doing business, and enhancing UK-Nigeria commercial ties. Senior executives from the UK business and investor community engaged directly with the Minister, fostering dialogue on new investment opportunities and partnerships that will contribute to Nigeria's long-term development goals. Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, stated: 'Nigeria is open for business, and we are committed to creating an environment that fosters investment, innovation, and economic growth. Our engagements in London demonstrate our dedication to strengthening trade ties, supporting local and foreign investors, and ensuring that Nigeria remains a prime investment destination. The opportunities in Nigeria, particularly in non-oil sectors, are immense, and we invite investors to be part of this journey towards sustainable development.' Additionally, the Minister participated in an exclusive event co-hosted by Invest Africa in partnership with Lagos Free Zone (LFZ). This strategic engagement positioned LFZ as a premier investment hub within Nigeria's manufacturing sector, showcasing its potential to attract global investors and support the country's industrialisation agenda. The event featured a presentation by Lagos Free Zone MD&CEO, Adesuwa Ladoja, and a dynamic panel discussion exploring Nigeria's industrial landscape and how LFZ can support UK businesses keen on exploring pathways for sustainable growth in Nigeria. Karen Taylor, Chair of Invest Africa, commented: 'Invest Africa is proud to facilitate meaningful engagement between Nigerian leaders and the UK business community. The Minister's participation in our events underscores Nigeria's strategic importance as a trade and investment partner. We look forward to continuing to support initiatives that drive economic collaboration and unlock new business opportunities.' Adesuwa Ladoja, MD&CEO of Lagos Free Zone, remarked: 'The Lagos Free Zone represents a game-changer for Nigeria's manufacturing and industrial sectors, offering world-class infrastructure and seamless business operations. This event provided a crucial platform to showcase how strategic investments in LFZ can unlock deeper penetration into the Nigerian market for UK businesses and drive Nigeria's industrialisation. We are excited about the opportunities that lie ahead and look forward to welcoming global investors.' Dr. Oduwole's engagements in London aligned with Nigeria's four key strategic pillars: investment mobilisation, trade revenue growth, economic diversification, and strategic communications. Through these discussions, the Minister reinforced Nigeria's proactive approach to fostering international trade relations, unlocking new business opportunities, and strengthening economic ties between Nigeria and the UK. As Nigeria continues its journey toward sustainable economic transformation, the Ministry of Industry, Trade, and Investment remains committed to advancing strategic partnerships and positioning Nigeria as a top-tier investment destination on the global stage. Distributed by APO Group on behalf of Invest Africa. About Invest Africa: Invest Africa is a leading business and investment platform with over sixty years of expertise in Africa, dedicated to connecting businesses with unique opportunities across the continent. Their global network comprises more than 400 member companies, including multinationals, private equity firms, institutional investors, development finance institutions, professional service providers, government bodies, and entrepreneurs. With chapters in Kenya, South Africa, the UAE, the UK, and the US, Invest Africa leverages their global reach, market intelligence, and extensive network to support and connect businesses. As a trusted gateway into Africa, they drive socio-economic growth by facilitating sustainable capital flows and providing strategic insights through our membership, consultancy services, and dynamic events programme.
Zawya
29-01-2025
- Politics
- Zawya
Strengthening Security Cooperation: United Kingdom (UK) Defence Minister visits Nigeria
The UK Defence Minister for the House of Lords, Lord Vernon Coaker, visited Abuja and Maiduguri this week to meet top defence and security leaders, reaffirm the UK's commitment to our Security and Defence Partnership and discuss issues of mutual concern in the region. The UK and Nigeria share a strong defence relationship, underpinned by over three decades of collaboration between our armed forces. Through our partnership we continue to enhance security, counter violent extremism and promote regional stability. In Abuja, the Minister met the Honourable Minister of Defence and the Minister of State for Defence, the Chief of Defence Training and Operations, the National Security Adviser and the President of the Economic Community of West African States (ECOWAS). These meetings underscored Nigeria and ECOWAS' continued leadership in promoting regional security and the UK's continued commitment to supporting Nigeria's priority security objectives. Lord Coaker also travelled to Maiduguri, Borno State, a primary focus of Nigeria's fight against terrorism and violent extremism. The Minister visited a Disarmament, Demobilization and Reintegration camp (DDR) to understand the challenges of reconciliation and reintegration, and UK-led counter-improvised explosive device (C-ED) training, funded by the UK Integrated Security Fund. This initiative is designed, at Nigeria's request, to enhance capacity and improve response capabilities to address security threats and instability. Meeting with Nigerian military personnel who have benefitted from UK training programmes, the Minister gained firsthand insight into the impact of UK-Nigeria security cooperation. Lord Vernon Coaker reaffirmed commitment to the UK-Nigeria defence relationship: "This visit reflects the UK's steadfast commitment to working with Nigeria to tackle shared security challenges. Witnessing the results of our training programmes and engaging directly with those on the frontlines reaffirms the importance of our partnership in building a safer and more stable region." The Minister's visit highlights the continued strength and importance of the UK-Nigeria Security and Defence Partnership (SDP) ahead of our third SDP dialogue in 2025. Distributed by APO Group on behalf of United Kingdom Foreign, Commonwealth and Development Office.
