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How government can leverage NILOBF as platform for bilateral ties, FDIs

By Femi Adekoya   |   12 October 2016   |   12:06 am

Professor Chris Onalo

Professor Chris Onalo

Preparatory to the fourth yearly UK-Nigeria investment summit, organisers of the Nigerian London Business Forum (NILOBF) have stated that the forum can provide the platform for increased trade facilitation and investment inflow between the two countries.

The Country Director of NILOBF, Professor Chris Onalo stated that government’s participation in international platforms designed to attract foreign equity investments for infrastructural development is key in enhancing bilateral ties.

According to him, NILOBF, United Kingdom’s premiere organisation for facilitating and promoting trade and investment between the UK and Nigeria, will through this year’s summit, explore how the nation can attract credible investments from UK.

Onalo explained that the forum will bring together leaders of British, European and Nigerian businesses in the private sector, members of the diplomatic corps and top public sector officials to open up a new regime of solid economic co-operation with Nigeria.

“This summit is extremely important as it is planned to facilitate investments into Nigeria beyond oil, showcasing key sectors such as Agriculture, pension funds, ICT and manufacturing. The summit will also demonstrate Nigeria’s importance in the global economy, and with your presence we believe the summit will reach new heights in showcasing Nigeria as Africa’s most attractive investment destination.

“The summit has full endorsement from the British and Nigerian High Commissions in Lagos and London respectively, and is being organized in collaboration with the London Chamber of Commerce (LCCI).

“The timing of the summit could not have been more apt considering the urgent imperatives to diversify, stimulate and transform Nigeria’s economy. The summit will serve as a veritable platform for the Nigerian Federal and State Governments and other stakeholders to present key infrastructural financing case for foreign investment”, he added.

Urging federal and state governments to tap into the opportunity, Onalo said the summit has been deliberately structured for state governments in Nigeria to showcase huge investment opportunities in their respective domains which include, but not limited to the power, transport, agriculture, financial services, solid minerals development, real estate, manufacturing, information and communication technology (ICT) sectors.

“Nigerian delegation of business people and top officials of State Governments will have the opportunity to interact and network with their counterparts from Europe and the UK, discuss and share thoughts on various businesses, finance, investment and other opportunities on both sides.

“It is expected that at the end of the day, strong and enduring business partnerships, and investment commitments would be formed to ultimately propel trade and investment relations between the UK and Nigeria to a new height”, he added.

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