The UK and Nigeria have signed a partnership settlement to advertise commerce and funding and open new prospects for each international locations.
The UK Minister for Enterprise and Commerce, Kemi Badenoch, signed the Enhanced Commerce and Funding Partnership settlement alongside her Nigerian counterpart Nigerian Commerce Minister Doris Nkiruka Uzoka-Anite, on Tuesday in Abuja.
This was contained in a press release made obtainable by the Senior Press and Public Affairs Officer and Comms Lead, Prosperity and Financial Growth, British Excessive Fee in Lagos, Ndidiamaka Eze, on Tuesday.
The ETIP is the primary the UK has signed with an African nation and is designed to develop the UK and Nigeria’s already thriving buying and selling relationship, which totalled £7 billion within the 12 months to September 2023, in keeping with the assertion.
Badenoch disclosed that the settlement would open lots of alternatives for the Brits as Nigeria is without doubt one of the fastest-growing economies in Africa.
“The UK and Nigeria are important companions, with longstanding historic and financial ties.
“UK companies are already seeing large success in Nigeria – one of many quickest rising economies on the earth.
“I’m delighted to be right here to signal our new enhanced partnership which is able to enable UK corporations to export their world-class items and companies extra simply and broaden their footprint in Nigeria,” Badenoch added.
On her half, the Nigerian Minister for Commerce Doris Nkiruka Uzoka-Anite mentioned, “The UK is one in all our long-standing strategic companions with whom we share sturdy ties, and it gladdens me that this relationship is ready to deepen as we signal the Enhanced Commerce and Funding Partnership.
“This partnership will see Nigeria-UK relations transfer past one in all shared historical past and robust ties to one in all shared financial prosperity. From rising market entry and supporting our vibrant companies to creating extra jobs and accelerating higher investments in sectors of mutual pursuits.”
Badenoch, had visited the primary British unbiased college in West Africa, the Charterhouse Faculty constructing in Lagos on Monday.