Nigeria Strengthens Trade and Investment Ties with the United Kingdom (UK) During the Commonwealth Trade and Investment Summit
During her visit, Dr. Oduwole participated in two exclusive events hosted by Invest Africa, engaging with top-tier stakeholders, business leaders, and investors. These engagements underscored Nigeria's dedication to economic diversification, investment mobilisation, and strengthening the London-Lagos investment corridor.
On 8 April, the Minister delivered a keynote address at an Invest Africa-hosted roundtable, where she outlined Nigeria's investment potential and strategic trade policies. The discussion focused on boosting non-oil sectors, promoting ease of doing business, and enhancing UK-Nigeria commercial ties. Senior executives from the UK business and investor community engaged directly with the Minister, fostering dialogue on new investment opportunities and partnerships that will contribute to Nigeria's long-term development goals.
Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, stated: 'Nigeria is open for business, and we are committed to creating an environment that fosters investment, innovation, and economic growth. Our engagements in London demonstrate our dedication to strengthening trade ties, supporting local and foreign investors, and ensuring that Nigeria remains a prime investment destination. The opportunities in Nigeria, particularly in non-oil sectors, are immense, and we invite investors to be part of this journey towards sustainable development.'
Additionally, the Minister participated in an exclusive event co-hosted by Invest Africa in partnership with Lagos Free Zone (LFZ). This strategic engagement positioned LFZ as a premier investment hub within Nigeria's manufacturing sector, showcasing its potential to attract global investors and support the country's industrialisation agenda. The event featured a presentation by Lagos Free Zone MD&CEO, Adesuwa Ladoja, and a dynamic panel discussion exploring Nigeria's industrial landscape and how LFZ can support UK businesses keen on exploring pathways for sustainable growth in Nigeria.
Karen Taylor, Chair of Invest Africa, commented: 'Invest Africa is proud to facilitate meaningful engagement between Nigerian leaders and the UK business community. The Minister's participation in our events underscores Nigeria's strategic importance as a trade and investment partner. We look forward to continuing to support initiatives that drive economic collaboration and unlock new business opportunities.'
Adesuwa Ladoja, MD&CEO of Lagos Free Zone, remarked: 'The Lagos Free Zone represents a game-changer for Nigeria's manufacturing and industrial sectors, offering world-class infrastructure and seamless business operations. This event provided a crucial platform to showcase how strategic investments in LFZ can unlock deeper penetration into the Nigerian market for UK businesses and drive Nigeria's industrialisation. We are excited about the opportunities that lie ahead and look forward to welcoming global investors.'
Dr. Oduwole's engagements in London aligned with Nigeria's four key strategic pillars: investment mobilisation, trade revenue growth, economic diversification, and strategic communications. Through these discussions, the Minister reinforced Nigeria's proactive approach to fostering international trade relations, unlocking new business opportunities, and strengthening economic ties between Nigeria and the UK.
As Nigeria continues its journey toward sustainable economic transformation, the Ministry of Industry, Trade, and Investment remains committed to advancing strategic partnerships and positioning Nigeria as a top-tier investment destination on the global stage.
Distributed by APO Group on behalf of Invest Africa.
About Invest Africa:
Invest Africa is a leading business and investment platform with over sixty years of expertise in Africa, dedicated to connecting businesses with unique opportunities across the continent. Their global network comprises more than 400 member companies, including multinationals, private equity firms, institutional investors, development finance institutions, professional service providers, government bodies, and entrepreneurs. With chapters in Kenya, South Africa, the UAE, the UK, and the US, Invest Africa leverages their global reach, market intelligence, and extensive network to support and connect businesses. As a trusted gateway into Africa, they drive socio-economic growth by facilitating sustainable capital flows and providing strategic insights through our membership, consultancy services, and dynamic events programme.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
5 hours ago
- Zawya
Nigeria Grants Tanzania Air, A Foreign Carrier Operating Permit
The Nigerian Civil Aviation Authority (NCCA) has granted a Foreign Carrier Operating Permit to Air Tanzania to commence scheduled flights between Dar es Salaam and Lagos. Commencement of direct flights between Tanzania and Nigeria will ease connectivity and boost business, investment and tourism, thereby strengthening existing ties between our two countries. Distributed by APO Group on behalf of High Commission of the United Republic of Tanzania Abuja, Nigeria.
Khaleej Times
7 hours ago
- Khaleej Times
HSBC plans major global expansion of office, staff surveillance, documents show
HSBC plans to step up surveillance of staff and buildings by adding more cameras and biometric access to its premises globally, internal documents seen by Reuters show, a move that comes amid growing concerns about companies' extensive monitoring of workers. As part of its "global security strategy", the bank plans a four-fold increase in the number of cameras at its new building in the City of London, a site about half the size of its existing office in Canary Wharf, an internal presentation by the bank's protective security team dated May 2025, seen by Reuters, shows. According to the presentation, the new London building is expected to have an estimated 1,754 cameras, up from about 444 devices installed in its current global headquarters in Canary Wharf in London. It also plans to double its biometric readers to access the new building to 779 from 350. Under the plan, reported here for the first time, access to HSBC's top-tier buildings, including in Britain and the U.S., should be based on biometric verification, including full-hand recognition. Access can also be "digital", with employees expected to use their own mobile phones to badge in, the presentation document shows. HSBC, Europe's biggest bank by assets, employs more than 210,000 people globally, including more than 31,000 across the UK. Most employees are expected to use personal mobile phones with a firm-installed software on them to gain access. This has met with some resistance from staff, a person with knowledge of the policies said. As of the end of last year, most of the UK staff had yet to adhere to the biometric and digital access policy which the bank started to implement in 2022, in part because of opposition, according to the person. "The safety and security of our people is at the forefront of everything HSBC does," an HSBC representative told Reuters. "We regularly risk assess every building and dependant on the identified risk and vulnerabilities, we continue to invest in the latest cutting-edge technology to safeguard our colleagues, customers and visitors in line with industry standards," the bank added. Companies have increased surveillance of staff amid a shift to hybrid working, while advances in technology allow for more sophisticated controls. Banks in particular have stepped up monitoring to ensure the parts of their businesses that are heavily regulated comply with conduct rules. National privacy laws determine what companies can monitor. The extensive surveillance enabled by new technologies is raising concerns about risks to workers' rights and wellbeing, according to a May report by the Institute for Public Policy Research, a London-based think tank. In July, HSBC requested that senior staff globally report to the office at least four days a week, starting from October, a bank spokesperson said. Previously, the bank had no global policy on the matter, with approaches varying depending on the country, they said. As demands for office space grow again, the bank has decided to add to its planned City of London HQ, with a new smaller presence in Canary Wharf, Reuters reported. The documents seen by Reuters do not include references to the new Canary Wharf office space. The bank's security project is overseen by Diane Marchena, global head of protective security, who reports to Chief Operating Officer Suzy White, the person with knowledge of the matter said. Marchena and White declined to comment for this article. ISRAELI SURVEILLANCE TOOLS HSBC has been working with Israeli firm Octopus since at least 2024, adopting some of its tools for surveillance in the UK and Hong Kong and is planning more rollouts for monitoring, other documents outlining HSBC's global strategy seen by Reuters show. HSBC plans the deployment of Octopus tools in other countries such as India and Mexico this year, the documents, which are undated, show. Israel is one of the world's leading exporters of surveillance. Octopus says it sells its tools to buyers in 28 countries. Its technology has been reportedly used by entities, including the Israeli government to monitor some Israeli cities and a European Union-funded refugee camp on the Greek island of Samos. A representative for Octopus did not take Reuters calls seeking comment and the company did not respond to a Reuters email seeking comment. An HSBC spokesperson said the bank does not comment on vendors or suppliers. TRADING FLOORS In HSBC's new London building, the increased video surveillance will include cameras at entry and exit points of trading floors, the May 2025 presentation shows, and the use of artificial intelligence analytics. HSBC's budget for the initial rollout of the new London building surveillance was recently tripled to about $15 million, the person familiar with the matter said. According to the presentation, "theft incidents" in its Canary Wharf building "point to the need for increased CCTV capabilities on working floors," and that recent "crime data" showed an increase of incidents, including burglary, within a one-mile radius of the new office. The person familiar with the matter said that theft events on HSBC premises were mostly minor.
Zawya
10 hours ago
- Zawya
Industrialisation-led growth necessary for Nigeria's economic resurgence — NESG
The Nigerian Economic Summit Group (NESG) has invited stakeholders to chart a bold, new course for Nigeria's industrialisation and economic future, as the country gears up for the 31st Nigerian Economic Summit (NES #31). The spotlight will focus on a critical lever for economic transformation: Driving Industrialisation-led Growth. The NESG said this sub-theme, central to this year's discourse, reinforces the urgent need to revitalise Nigeria's industrial base as a pathway to sustainable development, job creation, export competitiveness, and inclusive prosperity. According to the NESG, with the Summit scheduled to hold from October 6–7, 2025, at the Transcorp Hilton Hotel, Abuja, Nigeria's path to prosperity hinges on its ability to transition from a consumption-driven to a production-based economy. It added that despite its large population and abundant natural resources, Nigeria has struggled with deindustrialisation, overdependence on imports, and limited value addition in key sectors. 'Industrialisation offers a strategic solution to these challenges by unlocking the country's manufacturing potential, enhancing productivity, and strengthening linkages across agriculture, extractives, and services,' the NESG stated. It pointed out that through this sub-theme, NES #31 will convene industry leaders, policymakers, financiers, development partners, and entrepreneurs to examine how Nigeria can build globally competitive industries anchored in innovation, local content development, and enabling infrastructure. 'It will also explore how industrial policy can be better aligned with market realities, technological trends, and Nigeria's demographic advantage,' it further noted. Under the sub-theme, the NESG said the focus areas will cover 'The discussions under Driving Industrialisation-led Growth will centre on: Revamping Industrial Policy: Reviewing and modernising Nigeria's industrial strategies to reflect contemporary global and regional trends, including the AfCFTA and digital transformation. SME Competitiveness: Supporting small and medium enterprises (SMEs) as engines of innovation, job creation, and industrial diversification. Value Chain Development: Promoting backwards and forward integration, especially in agribusiness, mining, and pharmaceuticals, to maximise local content and export potential. Technology and Innovation: Leveraging Fourth Industrial Revolution technologies to scale productivity and competitiveness in manufacturing. Access to Finance: Catalysing private sector investment and innovative financing mechanisms to unlock capital for industrial growth'. Delving into the pillars for progress: Reforms, Resilience, Results, the NESG highlighted: 'Guided by the NES #31 strategic pillars—Reforms, Resilience, and Results—this sub-theme will stress the importance of reforming Nigeria's regulatory and infrastructure landscape to enable industrial take-off. From streamlined business processes and improved power supply to trade facilitation and skills development, Nigeria must build resilient systems that deliver tangible results. Industrialisation is not just about factories—it is about creating a national ecosystem of productivity, where skilled labour, reliable infrastructure, access to finance, and supportive policies work together to generate wealth and economic opportunities for millions'. Calling for coordinated action, the NESG said, 'the journey to industrialisation requires more than rhetoric—it demands intentional collaboration across the public and private sectors. NES #31 presents a unique opportunity for stakeholders to forge partnerships, commit to reform implementation, and co-create a future where Nigeria becomes the industrial powerhouse of West Africa. 'Through robust dialogue and shared accountability, the Summit will inspire actionable strategies that move Nigeria beyond resource dependence towards a diversified, innovation-led economy that works for all.' The Nigerian Economic Summit Group (NESG) is Nigeria's leading private sector think tank and policy advocacy organisation; since 1993, it has promoted inclusive economic growth through evidence-based research, stakeholder engagement, and its flagship annual Nigerian Economic Summit—Nigeria's foremost platform for public-private dialogue.
