Nigeria-UK trade to exceed £20bn in 2020

Volume of trade between Nigeria and the United Kingdom could exceed £20 billion by 2020, President of the Nigerian-British Chamber of Commerce (NBCC), Adedapo Adelegan, has said at the 40th anniversary press conference organised by the chamber in Lagos.

He said: “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.

“But we have seen more of non-oil products constituting the exports. One billion pounds of export in 2015 were foods and condiments.”

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.