…as chamber lines up activities for 40th anniversary
…plans trade mission to UK in May
The volume of trade between Nigeria and the United Kingdom could exceed N7.7 trillion (£20 billion) by 2020, according to Adedapo Adelegan, president of the Nigerian-British Chamber of Commerce (NBCC).
“Despite recession, I see the trade surpassing £20 billion, which was earlier projected for 2020. The value of trade between Nigeria and the UK is about £8 billion, and oil & gas made up 60 percent of this figure before,” Adelegan said at the 40th anniversary press conference organised by the chamber in Lagos.
“But we have seen more of non-oil products constituting the exports. One billion pounds of export in 2015 were foods and condiments,” he said.
As part of the 40th anniversary of the NBCC, the chamber will hold an anniversary lecture and photo/arts exhibition on March 9, which will also include a documentary of milestones covered in the past 40 years.
There will also be cocktail & launch of the NBCC Abuja branch in March, as well as 40th anniversary of the NBCC Golf Tournament in April.
Also, there will be 40th Anniversary Gala Dinner and Dance/ Patrons’ Investiture First week in June, including visits to Anambra, Lagos, Ogun and Ondo states.
The highpoint of the programme will be the 40th Anniversary Trade Mission to the UK between May 22nd and 26th, which will focus on the maritime sector, mining and mineral resources sector, finance and investment, Adelegan said.
He said in 2016, he led a delegation on a trade mission to the UK, which featured a two-day Opportunity Nigeria Event. Rotimi Amaechi, minister for transport, participated, and there was launch of the $2 billion Nigerian Infrastructure Fund, managed by Pecora Capital, offering investors unparalleled potential returns.
He explained that 40 new members were inducted and received their membership certificates after rigorous screening and interview in 2016.
Akinola Akintunde, former president of the chamber and chairman of the organising committee of the 40th anniversary, said there will historical exhibitions of art works of Nigerian and British artists, stating that there will be also trade missions by the British traders to Nigeria.
“This is the highpoint of the event because during our trade mission to the UK, I expect members and non-members to sign deals for the supply of non-oil products. The UK chapter will be organising a similar event,” he said, adding that many made-in-Nigeria products will be exhibited in the UK during the period.
Akin Olawore, deputy president of the NBCC, said the chamber encourages British traders to come into Nigeria and enable Nigerian exporters attain the standards they want in the spirit of harmonious bilateral trade relationship. Olawore stressed that the chamber consistently monitors what it does, adding that the NBCC is doing its best to improve Nigeria-UK trade relations.
