NBCC Seal Deal to Boost Trade, Investment
The Nigerian-British Chamber of Commerce (NBCC) has signed an agreement with the British Chambers of Commerce to become one of the 10 international affiliate chambers in the British Chambers of Commerce. Announcing the agreement signing in Lagos recently, the President of NBCC, Mr. Akinola Olawore said the affiliate agreement would enhance trade and investment between Nigeria and the United Kingdom (UK), as well as create opportunities for members of Nigerian-British Chamber of Commerce to have access to companies spreads across the 52 chambers in the UK.
It will also provide direct routes to the UK market, access to one of the largest cross-sectorial Small and Medium Enterprises (SME) audiences in the UK, as well as unrivalled insight into the UK’s business landscape and high profile local and national media engagement opportunities. Having concluded on the affiliate agreement, Olawore, last week, led a delegation of Nigerian business owners and professionals on a trade mission to the United Kingdom, specifically to London and Liverpool, in line with the founding objective of the NBCC to promote trade and investment between Nigerian and the UK.
According to Olawore, the multi-sector focused mission would provide a platform for Nigerian and British businesses to engage and collaborate and is intended to encourage, promote and facilitate trade and investments between the two nations. “The five-day mission will feature a series of business-to-business (B2B) meetings with prospective partners from various British Chambers of Commerce, key policy influencers and Nigerians in the diaspora,” he said. Delegates would also have the opportunity to participate at the International Business Festival in Liverpool and the London Technology Week.
Commending the federal government on the executive orders that were signed on the ease of doing business in Nigeria, Olawore said the efforts of government was a welcome development that would facilitate easier ways of doing business between Nigeria and foreign investors in Nigeria. He however called on government to ensure policy implementation that would change the mindset of Nigerians in achieving the intention of government concerning the ease of doing business. “Signing of the executive order on ease of doing business is not sufficient to achieve the purpose. Government must put in place, the right structure and enabling environment that will drive the process of the ease of doing business in the country,” Olawore said. He said trade volume between Nigeria and the UK had risen from £40 billion in 2015 to over £70 billion in 2017, saying the figure would increase if the executive order for ease of doing business was implemented.