UK-Nigeria bilateral trade surpasses £7.5 billion, highlighted during the Westerfield College launch in Lagos. The Deputy High Commissioner emphasizes mutual trade benefits and investment opportunities. The expansion of a Nigerian educational institution into the UK is noted as a historical milestone that signifies shifting perceptions and growing international collaboration.
The UK Deputy High Commissioner to Nigeria, Jonny Baxter, announced that bilateral trade between the UK and Nigeria has exceeded £7.5 billion and continues to rise. This information was shared during the launch of Westerfield College UK at the British Residence in Lagos. Baxter highlighted that trade is fundamental to the diplomatic relationship, benefiting both countries economically and socially.
Mr. Baxter stressed that trade is reciprocal, involving both British companies entering Nigeria and Nigerian businesses establishing themselves in the UK. He expressed enthusiasm about the new college launch, which expands educational possibilities for Nigeria, especially in the UK market.
The Deputy High Commissioner praised the UK as a welcoming destination for foreign investment, showcasing that foreign-owned businesses comprise only 4% of UK units yet generate nearly 40% of the business turnover and employ significant numbers of people. He reiterated the benefits of international investments for productivity and innovation.
Bimbola Salu-Hundeyin, representing Lagos State Governor Babajide Sanwo-Olu, termed the launch a historic event for Nigeria’s educational landscape, highlighting that the establishment of a Nigerian institution in the UK signifies a shift in global perceptions of Nigerian education.
Founder of Westerfield College, Michael Dosunmu, clarified that the new UK campus will complement the existing Nigerian branches, offering pre-university courses, language training, leadership programs, and more, despite higher tuition fees. He noted that this expansion reinforces the steady growth of Nigeria-UK trade relations.
Westerfield College, established in Lagos in 2011 with further branches in Kano and Abuja, now aims to enhance educational opportunities while simultaneously bolstering economic partnerships between the two nations. Additional focus on healthcare and investment partnerships also signifies growing ties.
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The topic revolves around the strengthening of bilateral relations between the UK and Nigeria, underscored by a significant increase in trade figures and mutual investments. The recent launch of a Nigerian educational institution in the UK, Westerfield College, stands as a landmark event promoting educational exchange and opportunities while enhancing UK-Nigeria business and cultural ties. The discussions emphasize the reciprocal nature of trade and investment, inviting more Nigerian enterprises to establish a presence in the UK as a means to foster economic collaboration.
In summary, the growing bilateral trade between the UK and Nigeria, which has surpassed £7.5 billion, highlights the importance of mutual economic benefits and partnerships. The launch of Westerfield College in the UK represents a significant stride for Nigerian education on a global platform. Increasing educational and investment collaborations promise to further strengthen ties and foster growth in both nations.
Original Source: www.premiumtimesng.com
