[size=13pt]UK offers Nigeria access to 90 billion pounds fund to boost infrastructure[/size]

BRITAIN has urged the Federal Government to initiate plans to access part of the United Kingdom’s 90 billion pounds investment funds to boost the country’s infrastructure and economy.

The offer came barely over a month after the British Prime Minister, David Cameron, visited Nigeria.

Stating this was the Lord Mayor of the City of London; Alderman Michael Bear, when he led a trade delegation to the country this week.

Bear said for Nigeria to play important global economic role, the country need to have pursue the three Cs approaches: Commodity-which the oil represent, Capital leverage and Creativity that will enable the country diversify the economy.

The London Mayor, who was hosted by the Nigerian-British Chamber of Commerce (NBCC) in Lagos, said Nigeria has the potential to attract part of the 90 billion pounds earmarked by the British government for investment in any part of the world that it sees as good opportunity.

According to him, since capital has a choice, Nigeria was among the countries chosen to attract part of the funds, adding that it is now left for government to access the investment fund.

Speaking at the September breakfast forum of the chamber, Michael Bear, said one of the major criteria for a major capital city to attract foreign direct investment is openness to other people and countries.

“We have something we will like to share with Nigeria and so do others,” he said.

The mayor also added that a country must possess a business-friendly environment based on transparency.

“What you need”, according to him, “is predictability, stability and transparency within the business and financial environment.”

He explained that transparency was very important in global business, stressing that Nigeria should entrench a level of predictability in policy, dispute resolution and common law.

Another criterion for making Nigeria a global finance and business centre, the Mayor added, was business infrastructure.

“Every business needs power and communication. People need to get to work without wasting time. Infrastructure pays for itself and creates good jobs. In the city of London, we have realised that one British pound spent on infrastructure generates about two and a half British pounds,” Bear said.

He maintained that the fourth prerequisite for a mega city was good communication, which opens the way for global attention. There should be electronic and physical information communication because businesses can only thrive where business risks, financing risks and sovereign risks are reduced to barest minimum.

“The fifth, according to the Mayor, is a business cluster, stressing that “those are the five reasons that make the city of London a world business hub, and we love to share with you a roadmap on how you can achieve your aspirations towards being a world business centre. If you follow our example, your GDP will increase to about $60 billion.”

Bear however, stressed that the five major criteria were what make the city of London a number one choice as a global centre for finance and business, adding that these could be replicated not only in Lagos State, but Nigeria as a whole to make the country a choice destination for more British investmentYou need to create jobs. You need to create exports and diversify away from a single commodity economy,” he said.

Earlier in his presentation, the NBCC President, Thomas Awagu, while welcoming the Mayor and his trade team, said Nigeria was willing and ready to have more British investments spread into various areas of the country’s economy that are yet to be fully tapped into.

“We are seeking to establish new business partnerships in London,” Awagu said.

The NBCC President however, called for greater support from the British High Commission, various government agencies in Nigeria and Britain as well as viable private sector leaders willing to have business ties with the British business community.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=61114:uk-offers-nigeria-access-to-90-billion-pounds-fund-to-boost-infrastructure-&catid=31:business&Itemid=562

Rejected!!!!

the last thing we need is more money to be funneled in to the pocket of the same thieves that have robbed Nigerians, and their children and children's-children for the past 30 decades.

This is a huge ploy to finally in-debt Nigeria; I pity the fools who will accept this offer, they are finished.

Kobojunkie:

Rejected!!!!

the last thing we need is more money to be funneled in to the pocket of the same thieves that have robbed Nigerians, and their children and children's-children for the past 30 decades.

i'm beginning 2 agree wyt u lately

Great Britain wants to secure a steady debtor!

If our officials are smart, they'll simply keep their hands in their pockets.

so what are the strings attached? becos me i know these britiko ppl wella. let them go and dash Greece the money, we'll pass.

Nice post.

This was interesting:

OAM4J:

“Every business needs power and communication. People need to get to work without wasting time. Infrastructure pays for itself and creates good jobs. In the city of London, we have realised that one British pound spent on infrastructure generates about two and a half British pounds,” Bear said.

Anyway, hopefully some of this investment fund will be spent on mutually beneficial projects in the SW.

LOL. Why don't they face their own debt and financial problems? I'm sure they have enough issues to deal with.

Thank God for the responses I've seen so far. I'm praying that those in power share the same sentiments and judgement.

@logica u re right still britain got dey own issues but still everything is under control but naija govt don't have a clue how to put things the way is surpose to be

Tinyemeka:

Thank God for the responses I've seen so far. I'm praying that those in power share the same sentiments and judgement.

You wish - how long will it take to for you (and majority) of Nigerians to understand that you are not priority - they are!

It is Britain that rather needs serious financial help. Everyone I know in England is in serious debts. The country itself is in economic and financial crisis. All the Big British cars has been sold to foreigners, Range Rover is owned by Indians and the sad news there is endless.

These British people I hate them with passion, they are one of the reasons why Nigeria is phucked today. They are part of our problems, we dont need British money, they rather invest their silly money back to their economy,

These smelly donkeys came to Nigeria without visas and without any invitation, they took my forefathers by force, raped our mothers, ruined our economy and culture, As if thats not enough, they used my people as laborers, sent them to several overseas countries against their wish and even call us apes and monkeys. Till date they are not done. They still dictate what happens in Nigeria, they still have a say in who wins elections and how our economy is managed together with our retarded leaders.

These fooooools can mess with our leaders all they want, but their citizens cant mess with smart Nigerians like me. I am happy with the way things are going in UK today, they are almost a second world country at the moment, i pray they continue to dwindle and their citizens suffer the same way they have made us suffer for decades.

lagerwhenindoubt:

You wish - how long will it take to for you (and majority) of Nigerians to understand that you are not priority - they are!

Who are "they" you talk about? I am aware of the financial recklessness that goes on in the executive and legislature, which is why I made that wish. Besides, we now have Okonjo-Iweala as the co-ordinating minister and who is in charge of the nation's finances. Past experiences have shown that she is averse to loans and other sorts of unnecessary borrowings so one can be safe to say that this British Trojan horse in the form of "grants" would not be given a second thought.

I know that the US and UK are currently experiencing tight financial crisis, which emerging data have shown would only get worse. They may have the credit to give out loans and grants but that is with the sole purpose of getting more in return. This was one of the reasons former finance minister Aganga advocated the establishment of a Sovereign wealth fund, which could be used as a vehicle to save excess money and also invest elsewhere to yield more income (this I'm sure is a similar case of why the British PM and London's Mayor have come to Nigeria; to invest their money, not to give us grants!). But myopic govt spendings and extravagance wouldn't let our SWF see the light of the day. The Finance minister may eventually bring some sanity into our Fiscal policy, by God's grace (I'm still wishing. Sue me).
g tight financial crisis, which emerging data have shown would only get worse. They may have the credit to give out loans and grants but that is with the sole purpose of getting more in return. This was one of the reasons former finance minister Aganga advocated the establishment of a Sovereign wealth fund, which could be used as a vehicle to save excess money and also invest elsewhere to yield more income (this I'm sure is a similar case of why the British PM and London's Mayor have come to Nigeria; to invest their money, not to give us grants!). But myopic govt spendings and extravagance wouldn't let our SWF see the light of the day. The Finance minister may eventually bring some sanity into our Fiscal policy, by God's grace (I'm still wishing. Sue me).

Ricky_Ross:

It is Britain that rather needs serious financial help. Everyone I know in England is in serious debts. The country itself is in economic and financial crisis. All the Big British cars has been sold to foreigners, Range Rover is owned by Indians and the sad news there is endless.

These British people I hate them with passion, they are one of the reasons why Nigeria is phucked today. They are part of our problems, we dont need British money, they rather invest their silly money back to their economy,

These smelly donkeys came to Nigeria without visas and without any invitation, they took my forefathers by force, violated our mothers, ruined our economy and culture, As if thats not enough, they used my people as laborers, sent them to several overseas countries against their wish and even call us apes and monkeys. Till date they are not done. They still dictate what happens in Nigeria, they still have a say in who wins elections and how our economy is managed together with our slow leaders.

These fooooools can mess with our leaders all they want, but their citizens cant mess with smart Nigerians like me. I am happy with the way things are going in UK today, they are almost a second world country at the moment, i pray they continue to dwindle and their citizens suffer the same way they have made us suffer for decades.

Ejoo O! Bro coolu temper O. Don't go stabbing some poor white folks in this your black rage. I feel your angst sha.

Tinyemeka:

Who are "they" you talk about? I am aware of the financial recklessness that goes on in the executive and legislature, which is why I made that wish. Besides, we now have Okonjo-Iweala as the co-ordinating minister and who is in charge of the nation's finances. Past experiences have shown that she is averse to loans and other sorts of unnecessary borrowings so one can be safe to say that this British Trojan horse in the form of "grants" would not be given a second thought.

So Okonjo iweala is now your new MESSIAH in Nigeria? Do you folks ever learn? The woman CANNOT stop the loss. . . during the time she was last here, she saved Nigeria a penny, but go back and do your maths to find out how many more we still lost. Stop looking for messiahs where none exists and grow a spine. This is your country --- your soul, you allow fo_ols continue to take a poo on.

Kobojunkie:

So Okonjo iweala is now your new MESSIAH in Nigeria? Do you folks ever learn? The woman CANNOT stop the loss. . . during the time she was last here, she saved Nigeria a penny, but go back and do your maths to find out how many more we still lost. Stop looking for messiahs where none exists and grow a spine. This is your country --- your soul, you allow fo_ols continue to take a poo on.

and you say this all from the comfort of your home in ohio ? now doesnt that feel like you are delegating responsibilities to others ? doesnt that feel like you are passing the buck ? doesnt that feel just a tad bit hollow

As I was saying . . .

Tinyemeka:

Who are "they" you talk about? I am aware of the financial recklessness that goes on in the executive and legislature, which is why I made that wish. Besides, we now have Okonjo-Iweala as the co-ordinating minister and who is in charge of the nation's finances. Past experiences have shown that she is averse to loans and other sorts of unnecessary borrowings so one can be safe to say that this British Trojan horse in the form of "grants" would not be given a second thought.

So Okonjo iweala is now your new MESSIAH in Nigeria? Do you folks ever learn? The woman CANNOT stop the loss. . .  during the time she was last here, she saved Nigeria a penny, but go back and do your maths to find out how many more we still lost. Stop looking for messiahs where none exists and grow a spine. This is your country --- your soul, you allow fo_ols continue to take a poo on.

http://leadership.ng/nga/articles/5230/2011/09/15/fashola_seeks_lagos_london_economic_integration.html

"Fashola Seeks Lagos, London Economic Integration"

Hehe

Since none of ya'll seem interested in securing any of this 90 billion pound fund, perhaps most of it will be invested in Lagos and hopefully it's environs

I am very proud of u nairalanders. Quite obvious we are only getting wiser by the day. There is no developed country worldwide dat is not heavily-indebted in order to industrialise. U know my greatest fears? Firstly, Our leaders are compulsive robbers hence wont even spend a dime out of it to provide basic amenities. Secondly, b4 okonjo-iweala was able to strike that deal for us, we have paid more than 300% of the money we borrowed just servicing the interest on the loan. But then we were paying N400b yearly to service these loans. However, OBJ did assure us that once we were able strike the savings of N400b would channeled to improving basic amenities like roads. I think we need to ask our leader-robbers why all our infrastructures only got worse then.

This is like a begger whos physically malnourished yet is giving away his cheese and pickel sandwich!

This is a devil's hotdog and I hope our leaders reject it and serve them 'squeeky bum saussages' instead!

Hmm!

It is finished.