Thursday, 28th March 2024
To guardian.ng
Search

NBCC projects £15b Nigeria-Britain trade flows by 2020

By Femi Adekoya and Kingsley Jeremiah
01 July 2015   |   11:15 pm
As part of measures to deepen bilateral ties between Nigeria and the United Kingdom, newly elected President of the Nigerian-British Chamber of Commerce (NBCC), Prince Dapo Adelegan, has unveiled plans to increase engagement among stakeholders within the next two years. In its long-term projection, the chamber is optimistic of an improved trade volume of over…

Adenegan-CopyAs part of measures to deepen bilateral ties between Nigeria and the United Kingdom, newly elected President of the Nigerian-British Chamber of Commerce (NBCC), Prince Dapo Adelegan, has unveiled plans to increase engagement among stakeholders within the next two years.

In its long-term projection, the chamber is optimistic of an improved trade volume of over £15 billion between the two countries by 2020.

According to him, Nigeria stands at a crossroad, juxtaposed between vast riches in human and natural resources on one hand and unnecessary poverty and deprivation on the other, through which improved socio-economic engagements championed by the private sector can address.

Adelegan, who became the 14th President and Chairman of Council of the chamber, on Wednesday, noted that the country, which remains Africa’s largest economy continues to play at the lowest end of the global race of human development, hence the need for a shift in paradigm and socio-economic engagements.

He said: “About four years ago, the former President of Nigeria and that of Britain agreed on moving the trade volume between Nigeria and Britain, I am happy to say it reach £8 billion last year but it has been failing to about £7 billion because of the economic challenges but I am sure that by the time the new administration makes clarity with robust economic policies and appoint key people into the cabinet, we will see resurgence in the inflow of capital. I am sure that by 2020 that trade volume will be more than £15 billion.

“Given the pedigree of the situation on ground, the expectation is very high but with the support of the chamber we will ensure that we are determined to ensure that we raise the bar in four key areas.

“We want to improve on the trade relations between Britain and Nigeria. Britain remains one of the most reliable partners of Nigeria and home to most of the Nigerians in Diaspora. Secondly we want to bring to quality service to our members of all categories and foster prosperity to their businesses; thirdly we want to build our plaza and lastly we are going to be very active in advocating positive policies for implementation by the government and ensure that necessary infrastructures for inflow of foreign direct investment are provided”.

Adelegan, while speaking at the NBCC’s yearly general meeting, expressed his readiness to provide leadership that would enhance policy formulation and implementation, while ensuring that competence is promoted in the chamber’s internal and external engagements.

“Your chamber will provide leadership in collaboration with key stakeholders like the UKTI, BCC and NACCIMA to define the scope and scale of the duty of rescuing our nation from the path of misused opportunities and underachievement”, he added.

Immediate past president of the chamber, prince Adeyemi Adefulu, while reviewing activities of the past year, emphasised the need for support from members, noting that the chamber will only be as strong as members make it.

0 Comments