#Brexit:UK Envoy assures Nigeria of increased trade volume

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Thursday, July 28th,2016 7.00pm/@webtvng.com

With over a month since the UK voted to leave the European Union, the global economy has experienced a level of uncertainty, as its key trade partners seek to understand what will be the future level of engagements/negotiations to come as the process begins.

Nigeria one of the largest and strategic partners of the UK, is not left out in the discourse considering the value of trade that exist between both countries.

At the July breakfast of the Nigeria-British Chamber of Commerce (NBCC), the Trade Envoy of UK to Nigeria, Mr John Howell assured the business community that #Brexit will not impair UK-Nigeria economic relations.

Despite the #Brexit, Howell told the chamber that UK remained open to Nigerian companies for doing business, stating that it had one of the best “Ease of doing business” ranking in the globe.

Mr Howell shared that his 3-point agenda for Nigeria, was to increase the volume of trade, improve the ease of doing business index in the country and increase prosperity for Nigerians.

The British envoy described Nigeria described as a strategic nation globe, noting that the UK was home to the second largest population of Nigerians-in-diaspora, who have contributed immensely to the growth of the British economy.

Mr Howell said the UK government was happy to partner with the Nigerian government on its “Anti-Corruption” crusade, describing as critical to the nation’s sustainable development.

He commended the Central Bank of Nigeria, for adopting the “Flexible Forex Regime”, which will allow market forces to play a vital role in the Nigerian forex market; thereby incentivizing more foreign investment inflows into the country.

According to him “Nigeria remains an attractive export and investment destination for the UK, because of its scale, resource wealth and location potential”.

Speaking further Mr Howell said the UK strategy for Nigeria’s economic development, will be driven through its international aid programme and the activities of its Department For International Development(DFID).

He also noted that Nigeria was among the 32 nations, that the UK had Bi-National agreements plan with covering various spheres of business, trade and the economy.

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#Brexit: UK Envoy assures Nigeria of  Strategic Trade relations

 

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