British International Investment Plc, the UK government’s development finance institution, opened an office in Nigeria this week and said it aims to commit $200 million before the end of the year.

“We intend to invest about a billion dollars every year in Africa and a larger proportion of that investment will come to Nigeria,” Benson Adenuga, who will lead the new office, said in an interview on Wednesday in Lagos.

“When you have that focus and you have that level of exposure you want to ensure that you have the people on ground who are going to push that investment agenda.”

The office will be located in Lagos, Nigeria’s commercial hub, and will serve as regional headquarters for BII’s West African operations. It will be the agency’s fourth office on the continent and joins operations in South Africa, Kenya and Egypt.

The lender said last year it plans to invest $6 billion in Africa over the next five years in areas ranging from renewable power and digital infrastructure to supporting women-owned businesses. In Nigeria, it will support government’s development initiatives through investments in key sectors such as food security, power infrastructure and manufacturing, according to Adenuga.

Since taking office in May, Nigerian President Bola Tinubu has been on a drive to revive one of Africa’s biggest economies after years of economic stagnation. He has ended costly fuel subsidies, eased foreign-exchange controls, begun overhauling Nigeria’s chronically inadequate power sector, and declared a state of emergency to improve food security threatened by surging inflation.

BII plans to complete investments in two Nigerian agriculture and processing firms by year-end after signing deals to invest $26.5 million in AFEX Commodities Exchange Ltd., Adenuga said. “We see the emergency on Nigerian food security; we see the infrastructure gap, so there’s a lot that needs to be done.”

Karlovich:
Propaganda from the pit of hell, spits!

Karlovich:
Propaganda from the pit of hell, spits!

Karlovich:
Tell that to the numerous companies that have folded up under APC, Oluwole propaganda won't help you all. The dullard ruled for 8 years with similar propaganda and it seems the cocaine merchant wants to do the same.

Karlovich:
Tell that to the numerous companies that have folded up under APC, Oluwole propaganda won't help you all. The dullard ruled for 8 years with similar propaganda and it seems the cocaine merchant wants to do the same.

FreeStuffsNG:
Thank you BII for this $1 billion investment. We need more of this kind of investments in Nigeria please. Norfund too should please move its main operational office in West Africa to Lagos. This is where the money in Africa is to be made. Nowhere else but Nigeria with such huge pool of human and material resources in Africa.

If BII is investing in Nigeria then it tells you a whole lot is happening and so much money is to be made.

This is the best time to invest in Nigeria. Bring your investments to Lagos and the neighbouring Yoruba South West Nigeria states where you will get the greatest returns on investment and best investor friendly experience in Nigeria and Africa.
God bless Nigeria for ever!

Karlovich:
Propaganda from the pit of hell, spits!

cl0r0x:


Do you think we were too lazy to read? 1billion for Africa and 200 million for Nigerian. I'm sure you chop corn this morning and you are in the army.

Karlovich:
Tell that to the numerous companies that have folded up under APC, Oluwole propaganda won't help you all. The dullard ruled for 8 years with similar propaganda and it seems the cocaine merchant wants to do the same.

FreeStuffsNG:
Thank you BII for this $1 billion investment. We need more of this kind of investments in Nigeria please. Norfund too should please move its main operational office in West Africa to Lagos. This is where the money in Africa is to be made. Nowhere else but Nigeria with such huge pool of human and material resources in Africa.

If BII is investing in Nigeria then it tells you a whole lot is happening and so much money is to be made.

This is the best time to invest in Nigeria. Bring your investments to Lagos and the neighbouring Yoruba South West Nigeria states where you will get the greatest returns on investment and best investor friendly experience in Nigeria and Africa.
God bless Nigeria for ever!

FreeStuffsNG:
Thank you BII for this $1 billion investment. We need more of this kind of investments in Nigeria please. Norfund too should please move its main operational office in West Africa to Lagos. This is where the money in Africa is to be made. Nowhere else but Nigeria with such huge pool of human and material resources in Africa.

If BII is investing in Nigeria then it tells you a whole lot is happening and so much money is to be made.

This is the best time to invest in Nigeria. Bring your investments to Lagos and the neighbouring Yoruba South West Nigeria states where you will get the greatest returns on investment and best investor friendly experience in Nigeria and Africa.
God bless Nigeria for ever!

Cruise777:
Honestly Tinubu's Government keeps attracting direct foreign investment

Winneepye:

Read again, without anger.

kennyz247:


Which working investment have dey invited and has started working so far, even those already existing are backing up self.
Wich foreign investment can do well in Nigeria with the current deteriorated economy situations... No light and high cost of power, 720 fuel per liter, insecurities everywhere, political selfishness from the government and the rest.. .. .