UK Investors sign ₦153.4B commercial deals with Nigerian govt

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The British High Commissioner, Catriona Laing, on Tuesday said the UK-Africa Investment Summit has launched a new partnership for growth in Nigeria.

The British Commissioner said in a statement that commercial deals worth £324 million (over ₦153.4 billion) has been signed between Nigeria and UK Investors.

The deals’ Breakdown

At the UK-Africa Investment Summit, 27 deals were announced, adding to the existing £36 billion worth of trade already happening between the UK and African firms. Deals announced include:

Savannah invests £315 million in the acquisition and investment of ingas assets in Nigeria.
Tex ATC installs 5 Airport control room towers worth £2 million in Nigeria.
Trilliant installs £5 million of Smart Metering to Abuja DisCo in Nigeria.
Aggreko signed an £80 million contract extension for energy provision in Cote D’Ivoire
Airbus sells £80 million of aircraft in Egypt
Anglo-Tunisian Oil and Gas invest £26 million in Tunisian gas assets.
Aqua Africa wins a £26 million export contract to supply solar-powered water filtration systems in Ghana.
Baker Hughes £306 million export and investment of deep-sea equipment and scholarships in Mozambique
BHM £80.3 million work on the Tema-Aflao Road Project in Ghana.
Bombardier’s £3.18 billion construction and operation of 2 monorail lines in Cairo.
Contracta Construction UK wins a £120.5 million export contract to upgrade Kumasi teaching hospital in Ghana.
Contracta Construction UK wins £40 million export contract to develop Kumasi airport in Ghana.
Diageo invests £167 million to improve the sustainability of breweries in Kenya & East Africa.
Globeleq invests £50 million to help build of Malindi photovoltaic solar park in Kenya.
GSK invests £5 million in Egypt to upgrade two production lines.
Kefi Minerals invest £224 million in a new gold mine and to develop local infrastructure in Kenya.
Lagan Group wins a £185 million export contract for the construction of Kampala Industrial Business Park in Uganda.
Lloyds Register invests £0.76 million to set up operations in Mozambique.
Low Energy Designs win an export contract to install street lighting for Oyo state in Nigeria.
Matalan invests £25 million to open 13 new outlets in Egypt.
Moy Park to export £12 million of frozen chicken to Angola.
Nexus Green export £80 million of solar-powered water pumping systems for irrigation in Uganda.
NMS Infrastructure invests £222 million in the construction of 6 hospitals in Côte D’Ivoire.
Rolls Royce purchase £50 million of aircraft engines in Egypt.
Tullow invests £1,200 million in continued oil production in Kenya.
Tyllium and Ellipse win an export contract worth £60 million to provide 250 new beds for a general hospital in Koforidua in Ghana.
Unatrac wins a £1.5 million export contract to supply machinery for Ugandan roads.

NAN reports that 21 African countries met in London on Monday for the inaugural UK-Africa Investment Summit, which included African leaders, UK and African businesses, international institutions and young entrepreneurs.

President Muhammadu Buhari led the Nigerian delegation and held private meetings with Prime Minister Boris Johnson and His Royal Highness, the Prince of Wales.

The Summit was designed to create lasting new partnerships that deliver more investment, jobs and growth, benefiting people and businesses across Nigeria and the UK.

Ms Laing said the summit has a strong focus on sustainable energy and on female participation in the economy.

She said Nigeria and UK would be partners on a range of initiatives.

Ms Laing said the initiatives include significant UK commitments to support Nigeria to develop an enabling environment to turbo-charge economic growth, by helping to address land issues for investment.

“We will also be strengthening and improving the finance sector by helping entrepreneurs to secure access to finance.

“Also, we will be preparing the ground for the launch in the UK of naira-denominated bonds– “Jollof Bonds’’ and developing the technology sector,’’ she said.

Ms Laing also noted that there would be substantial initiatives to accelerate the clean energy transformation in Nigeria, through enhanced technical and financial support.

The British High Commissioner, added that strong commitments to harness private sector support for social development, particularly supporting women and young people in business would be formed.

“Nigeria has already secured billions of naira worth of deals from the Summit.

“With the launch of an exciting range of initiatives to help investors identify opportunities in Nigeria, I am confident much more will follow.

“I am proud the summit had a strong focus on supporting female participation in the economy.

“In Africa, women are more likely to become entrepreneurs than men and, with a fast-growing population, Nigeria needs to harness the dynamism of its women to ensure prosperity for its entire people,’’ she said.

Also, the Head, Department for International Development in Nigeria, Chris Pycroft, said the private sector has a critical role to play in supporting Nigeria’s economic growth.

Mr Pycroft said UK-Africa Investment Summit was an excellent opportunity for Nigeria to show off the wealth of opportunities it offers businesses, from agriculture to mining to technology.

“I am delighted we are able to use our aid programme in Nigeria to support this agenda from small steps like helping the Nigeria Investment Promotion Commission to produce an investment guide,” he said.

Mr Pycroft said the guide was produced to strengthen Nigeria’s agriculture and finance sector as well as to stimulate the economy and create the jobs needed to lift millions of Nigerians out of poverty.

“This package of partnerships will deliver a range of wider social benefits, from improving energy access to extending access to banking and loans to the poorest consumers,’’ Mr Pycroft said.

(NAN)

 

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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