July 22, 2019 / 10.00AM / Ottoabasi Abasiekong for Proshare WebTV / Header Image Credit: SBDC
Nigeria and Seven other countries are expected to be beneficiaries of the UK Department for International Trade overseas development assistance plan in 2019.
This fund is part of the £14bn official budget for the UK Government aid programme for the year.
According to BBC news, the Trade Secretary Mr. Liam Fox said the plan was to bring trade and aid closer together.
The fund is expected to key into the UK government’s spending target of 0.7% of its national income by way of overseas aid.
Other countries include South Africa, Kenya, Ethiopia, the Philippines, Bangladesh, Indonesia and Colombia.
Speaking further on the ODA plan through the Trade Office, Fox said "You have to remember that trade, free trade is the way we have taken a billion people out of abject poverty in a generation globally, one of the greatest achievements in our history. We need to make sure that carries on."
The UK Trade Secretary noted that some of the countries earmarked to benefit from the DFIT ODA are potential candidates for post-Brexit free trade agreements.
This week the United Kingdom will decide who will emerge the new Prime Minister to take over from Mrs. Theresa May.
It will be a decisive vote as uncertainty clouds Brexit and the future of the United Kingdom outside Europe.
The major contenders for the British Prime Minister position are Mr. Boris Johnson and Mr. Jeremy Hunt both of the ruling conservative party.