NBCC Champions UK Trade Mission On Attracting Foreign Investment To Nigeria

The Nigerian-British Chamber of Commerce (NBCC) will be embarking on an outward trade mission to the United Kingdom (UK) to attract Foreign Direct Investment (FDI) into Nigeria and strengthen bilateral relations between both countries.

Vice president and chairman, Trade and Investment, NBCC, Mr Akin Osuntoki stated this at a news conference in Lagos. The chamber will embark on its Outward Trade Mission to the United Kingdom themed ‘Paving the Way for Growth’ on May 21 to May 27, 2023.

The chamber stated that, it is a foremost bi-lateral chamber of commerce in Nigeria, focused on fostering goodwill and increasing trade and investment opportunities between Nigeria and Britain.

Meanwhile, the total trade in goods and services between the UK and Nigeria was 6.7 billion pounds by the fourth quarter of 2022; an increase of 84.1 per cent when compared to the corresponding period of 2021.

Osuntoki said that, the trade mission was in furtherance of NBCC’s commitment to expanding business opportunities for members and prospects.

He stated that, the trade mission scheduled for May 21 to May 27, 2023 in London and Birmingham, UK, had a multi-sector focus, particularly non-oil products and services.

According to him, its objectives which are numerous will develop partnerships between the UK and Nigerian businesses as well as promote the ease of doing business in the country, to attract foreign investors.

He added that the mission would engage with Nigerians in the Diaspora, business leaders in the UK, trade-related government officials, and UK-based chambers of commerce.

“This mission will also feature business roundtable at the Nigerian High Commission, Business to Business (B2B) meetings (London & Birmingham), golf tournament, business lecture at Warwick University and others.

“It would also provide access to British companies and businessmen wishing to invest in Nigeria and those with interests in seeking representatives or partners in Nigeria.

“By this mission, the NBCC is committed to changing the Nigerian narrative and offer a new face of the Nigerian private sector by presenting a high-level delegation of business leaders from Nigeria. Whatever we do on the mission would open the door for expansion, new ventures and a sustainable relationship between both countries.

“We still have few slots to all seeking to participate, explore and network in the UK, while advertisement placements opportunities are available in the trade mission brochure,” he said.

Osuntoki said, some of the sectors that would be represented at the mission include; financial institutions and advisory, legal, economy, oil and gas, government organisations and agriculture.

Others, he said, are manufacturing and engineering, construction and real estate, communications, media and marketing, technology, creatives and cultural and energy sectors.

NBCC stated that, the 2023 Trade Mission is in partnership with the Department of International Trade (DIT), Institute of Directors (IoD), British Airways and Wakanow.