Nigeria is Africa’s biggest country by population and its second largest economy. It has the world’s 10 largest proven oil reserves and the 9 largest natural gas reserves. The UK-Nigeria trade relationship was worth £4 billion in 2015 and has the potential to grow significantly in future. Nigeria is therefore a significant trade and investment partner for the UK in Africa.
However, Nigeria faces a number of challenges to its future growth and development. Conflict continues to affect its oil-rich delta region and there is a violent Islamist insurgency in its north-east, which has caused a humanitarian crisis. Despite significant natural resources, around a third of Nigerians (60 million) live below the national poverty line with around another third just above; many of them are highly vulnerable and at risk of being trafficked to the UK. The government of Nigeria is taking the lead to tackle these issues, but struggles with corruption as well as the capacity and resources necessary. The UK is focused on helping Nigeria overcome these challenges.
Retail and wholesale, Agribusiness, Automotive, Banking, Clean technology, Computer hardware, Computer software, Construction, Creative, media and entertainment, Diversified services, E-commerce, EdTech, Education, Electronics, Financial services, Food and beverage, Healthcare, HealthTech, Insurance, Internet, Leisure and travel, Manufacturing, Mobile, Real estate, Renewable energy, Telecom, Transport and logistics, Utilities, Waste management and recycling, Water, sanitation and hygiene
- Liam Oseiamsterdam, United Kingdom