peacekante:
IPOB are just wasting their time

Simplyleo:
Ipob miscreants, how market?

Simplyleo:
But I thought UK recognizes online country.

How comes UK prefers to transact with Nigeria rather than online country?

Is it one of those "intelligent" smart moves by lamidi cownu?

Though I heard lamidi cownu and Boris Johnson were in a closed door meeting yesterday.

Simplyleo:
But I thought UK recognizes online country.

How comes UK prefers to transact with Nigeria rather than online country?

Is it one of those "intelligent" smart moves by lamidi cownu?

Though I heard lamidi cownu and Boris Johnson were in a closed door meeting yesterday. Based on what I heard, biafla and UK were about to sign a bilateral trade agreement.

Rosskiiku:
Brexit Trade Bonanza: UK Eyeing 'Absolutely Huge' Nigeria Deal - Truss Aims For ANOTHER Win

BREXIT BRITAIN is eyeing up another trade deal with a vital partner, with one MP claiming it could be "absolutely huge" for the UK.

By BILL MCLOUGHLIN

DAILY EXPRESS UK

Sat, May 15, 2021

https://www.express.co.uk/news/politics/1435188/brexit-news-UK-trade-deal-nigeria-africa-investment-helen-grant-trade-envoy

Now free from the EU, Helen Grant, trade envoy to Nigeria and Tory MP for Maidstone and The Weald, said the UK was on the cusp of an ambitious era of trade with the major African state. Nigeria is Africa's largest and fastest-growing economy and is being targeted by the UK for an ambitious trade agreement. Due to its economic size, Ms Grant claimed there were wide opportunities to increase UK plc in multiple areas such as tech, financial services, agriculture and green technologies.

Speaking to Express.co.uk, Ms Grant revealed any future deal may well surpass the current £3.4billion in trade between the UK and Nigeria.

She said: "I'm not gonna put a finger on it, but I think it could be absolutely huge."


Brexit news: Liz Truss is eyeing a trade deal with Nigeria

Although Ms Grant refused to be drawn on when a free trade agreement may be signed, she did admit there is plenty to come between the UK and Nigeria.

She said: "I know we're trading with Nigeria under the generalised scheme of preferences.

"It's much simpler and more generous than the EU version.

"There is more to come on that. I also do get the strong feeling that we, of course, would be open to discussing an FTA with other West African countries.

"And I think the fact that you know, Nigeria is now at the helm of the WTO, I think that will be very helpful.

"And the fact that Nigeria has signed the African Continental Free Trade Agreement, I think all of these factors are, are of assistance.


Brexit news: Nigeria is Africa's largest economy

"So you know, watch that space."

While Nigeria has predominantly relied on oil within its economy, the state is developing rapidly in the tech industry which now accounts for 15 percent of its total economy.

The Nigeria economy also grew by 2.2 percent according to the IMF in 2019 and is expected to bounce back strongly from the pandemic.

UK expertise in engineering and science has also begun to shift the Nigerian government away from its dependence on oil.

Indeed, the Nigerian government's Economic Growth and Recovery Plan has outlined 60 initiatives.

These are centred on agriculture, industrialisation, energy and social investment, creating more opportunities within increased public-private partnerships.

In order to strengthen relationships with the state and other African nations, the UK hosted the first investment summit last year.

Due to this, commercial deals of over £6.5billion were signed and spanned several sectors including energy, retail and tech.

The second UK-Africa summit was held this year, albeit in a scaled-back fashion, as Boris Johnson declared the continent as a key trading partner.

Indeed, the Prime Minister said: "One thing that absolutely has not changed is my ambition for the UK to be Africa’s investment partner of choice."

While the UK has not signed a trade deal with Nigeria yet, the Government has inked 13 other agreements and is hoping to build on the £35-billion African trade relationship.

Simplyleo:
[s]But I thought UK recognizes online country.

How comes UK prefers to transact with Nigeria rather than online country?

Is it one of those "intelligent" smart moves by lamidi cownu?

Though I heard lamidi cownu and Boris Johnson were in a closed door meeting yesterday. Based on what I heard, biafla and UK were about to sign a bilateral trade agreement. [/s]

Vaughanlanrewaj:

The UK, as things stand, needs this trade deal more than Nigeria.

They are not in the best of times and I have particularly followed most companies on the Nigerian Stock Exchange that are originally British. There's a pattern; they are losing against competitors in the Nigerian market and it is not good for them.
From Cadbury to Unilever to Pz to UAC to Union Bank , they are in serious market share loss positions whereas companies that originated from other European countries are even buying up more shares and consolidating their position despite great market expansion. From Nestle(Swiss) to Heineken's NB(Dutch) plc to International Breweries to LaFarge( French) Julius Berger(German), these companies even increased their market share during covid-19.

If companies originally British are losing in Nigeria, where else can they now get the huge ROI again in Africa? It is possible this is the lot of most British companies even before Brexit and they need a strategy to get into Nigerian market and get back a significant portion of the market share.

Rosskiiku:


You are right to an extent, but it helps Nigeria's business profile on the international stage, entering a major trade deal with an economic giant like the UK.

It will certainly invite previously reticent investors across the world, and their various govt trade departments, to look again in the direction of the African giant.

Simplyleo:
But I thought UK recognizes online country.

How comes UK prefers to transact with Nigeria rather than online country?

Is it one of those "intelligent" smart moves by lamidi cownu?

Though I heard lamidi cownu and Boris Johnson were in a closed door meeting yesterday. Based on what I heard, biafla and UK were about to sign a bilateral trade agreement.

Rosskiiku:


You are right to an extent, but it helps Nigeria's business profile on the international stage, entering a major trade deal with an economic giant like the UK.

It will certainly invite previously reticent investors across the world, and their various govt trade departments, to look again in the direction of the African giant.

Vaughanlanrewaj:


It's actually the same countries who will shore up their edge in Nigeria. It's unfortunate to the British that UK is in this position in the Nigerian economy. I still recall the last visit by former PM Theresa May, it was not even as strong in the media as that of Emmanuel Macron who spent days in Lagos and consolidated French interest in Nigeria. That visit by Macron even delivered a multibillion naira project in the heart of Ikoyi, Lagos for free to the French interest in Nigeria donated by Dr. Mike Adenuga.

As we type here, most of the strategic companies are moving gradually out of the UK to EU and it just slowed down due to covid-19. UK apparently abandoned the Nigerian market and today we built our economy literally without them so they will struggle but I think Nigerians are likely to embrace them again if they spend big in Nigeria.

German Chancellor Angela Merkel came here and got the big Siemens deal.

If they don't spend very huge, they're gone be dat! Nigeria is now way too big than where they 'left ' it.

SEasternVictory:


The UK is broke !

Nigeria has no economy .

Vaughanlanrewaj:


It's actually the same countries who will shore up their edge in Nigeria. It's unfortunate to the British that UK is in this position in the Nigerian economy. I still recall the last visit by former PM Theresa May, it was not even as strong in the media as that of Emmanuel Macron who spent days in Lagos and consolidated French interest in Nigeria. That visit by Macron even delivered a multibillion naira project in the heart of Ikoyi, Lagos for free to the French interest in Nigeria donated by Dr. Mike Adenuga.

As we type here, most of the strategic companies are moving gradually out of the UK to EU and it just slowed down due to covid-19. UK apparently abandoned the Nigerian market and today we built our economy literally without them so they will struggle but I think Nigerians are likely to embrace them again if they spend big in Nigeria.

German Chancellor Angela Merkel came here and got the big Siemens deal. I doubt if May got anything so the British have so much work to do sir.

If they don't spend very huge, they're gone be dat! Nigeria is now way too big than where they 'left ' it.

SEasternVictory:


Yet with all the huge trade deals Nigeria is still a cesspit.

Rosskiiku:


You're absolutely right.

The thing is, EVERY economic power on earth today is looking at NIGERIA for the simple reason that by 2050, Nigeria will be the 3rd most populous nation on Earth after India and China.

Access to the 3rd largest market on Earth is not something that serious trading nations joke with.

In the coming years we will see MORE of these approaches by other nations to do business with Nigeria.

It will lead to a huge expansion of the Nigerian economy, and a rise in living standards across the board.

Simplyleo:
But I thought UK recognizes online country.

How comes UK prefers to transact with Nigeria rather than online country?

Is it one of those "intelligent" smart moves by lamidi cownu?

Though I heard lamidi cownu and Boris Johnson were in a closed door meeting yesterday. Based on what I heard, biafla and UK were about to sign a bilateral trade agreement.

Vaughanlanrewaj:


You're thinking big and I commend you sir. I often shake my head when a Nigerian is focusing on the negatives doing tolontolo dance on the front page of the newspapers and Nairaland.

Right now, I think we should start looking at the industries and sectors these guys are pushing their money. There may be numbers and pattern worth crunching there. Imagine what Okomu oil did in the Palm oil industry quietly over the years and before you say Jack, they are tremendously successful. Okomu is actually a Belgian company with 62.69% controlling stake in the company's 953.9 million ordinary shares. 
Promasidor has started with cow and milk again now o . Watch them in 5 to 10 years, they will repeat what they did with their cowbell satchet in the 90s

Nigerians who are patriotic and see the picture will be blessed by the land.
God bless Nigeria.

Rosskiiku:


Bro, you're even talking about big firms. There are ordinary young Nigerians who are starting stuff that is just blowing up.

It's all about MINDSET.

On YouTube there's a story about a young Naija girl that was born in Nigeria, but grew up in the UK with her family.

One day she just left them and said she was going to Nigeria to start a furniture business.

They warned her not to. Told her she was crazy.

She ignored them.

Her business is in Lagos, and she's making millions a month in profit - more than she ever earned in the UK - and says she has NO INTENTION of returning to the UK.


https://www.youtube.com/watch?v=bYBPvTa8rLk

Vaughanlanrewaj:


Great stuff!! I just watched few minutes and will balance to watch the rest but I think I should thank you first for sharing and it has been long seeing such positive vibes on Nairaland.

Thank you so very much sir.

Vaughanlanrewaj:


Good evening sir.

Please sir, don't derail the tread from intellectual debate of looking at how my fatherland Nigeria can benefit to the usual shallow bigotry and unpatriotic gbosgbas sir. This is not IPOB terrorists versus Islam/Fulani discussion sir. Ejoor, Biko sir.
Good night sir.

Rosskiiku:


I know you are a dunce, but someone should have taught you that development is a process that takes decades and decades of investment, trade, setbacks, missteps, and forward leaps.

80% of nations on Earth are developing nations - what semi-literate buffoons like you call 'cesspits'.

None of them, including Nigeria will develop by a magic wand overnight, but by a gruelling, lengthy process, in which its citizens must be participants.