There are indications that trade between Nigeria and Britain has the potential to hit 20 billion pounds by year 2020 if government remains proactive and encourage business to thrive.
President, Nigerian-British Chamber of Commerce (NBCC), Prince Yemi Adefulu, gave the hint during a press briefing heralding its Centenary celebration in Lagos.
Adefulu said the formulation of the right policies that will encourage export of processed non-oil products is the key to winning for Nigeria, adding that government must also accord priority attention to the provision of critical infrastructure that will enable businesses to grow and remove undue costs.
He said the trade between Nigeria and Britain, which grew to eight billion pounds from four billion pounds in four years, has merely scratched the surface, saying that the base already exists to promote the trade between the two countries ex potentially.
“With the right policies in place, products and services should be moving daily between the two countries,” he said, pointing out that it is the responsibility of the government to create and nurture an enabling environment which will attract foreign investment and encourage export of Nigerian goods.
According to him, “We at NBCC stand as the facilitator of trade between Nigeria and Britain for mutual benefit of both countries. We represent the best of each to the other. We now partner with the United Kingdom Trade and Investment Agency (UKTI) and encourage the import of value enhancing products to Nigeria from Britain which will help value creation and processing of our local products. We also partner with Nigeria Export Processing Council, NEPC to facilitate the export of Nigerian goods and services to the UK market.”
Meanwhile, the Chamber’s centenary celebration of the Nigeria- British trade relations, holding in collaboration with the UKTI is billed to hold from November 11, to November 29, 2014, with NBCC Golf Classics which will be held at the Ikeja Golf Club.
The Chamber said captains of industry, members of the diplomatic corps, top level government functionaries, senior members of the British Cabinet and Past Head of States will be in attendance.
📌 Editor’s Note: For content partnerships and collaborations, reach out via editor@naija247news.com
Naija247news Media Group LLC is committed to ethical, independent journalism that serves the public interest. Our editorial process prioritizes accuracy, fairness, and transparency in reporting. All content is fact-checked and held to the highest standards of integrity. Learn more in our full editorial policy here.
© 2025 Naija247news Media Group LLC. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten, or redistributed in whole or in part without prior express written permission from Naija247news Media Group LLC.
Reporting by Babatunde Akinsola in Lagos, Nigeria.
