Bilateral trade between the UK and Nigeria has surpassed £7.5 billion, as noted by Jonny Baxter, the Deputy High Commissioner. The launch of Westerfield College in the UK marks a significant development in Nigeria’s educational presence abroad. Baxter emphasizes the importance of mutual trade benefits and the UK’s welcoming business environment, which underpins economic connections.
The UK-Nigeria bilateral trade has reached £7.5 billion, according to Jonny Baxter, the Deputy High Commissioner to Nigeria. He announced this during the launch of Westerfield College UK in Lagos, emphasizing that trade is critical to their diplomatic and economic relationships. Baxter pointed out that numerous Nigerian businesses thrive in the UK, showcasing mutual benefits in trade that extend beyond imports and exports.
The launch of Westerfield College is seen as a significant advancement for Nigeria’s education sector, according to the Deputy High Commissioner. He stated that the UK offers a favorable business environment, making it attractive for foreign investments that contribute substantially to the economy. Investments improve productivity and foster competition, introducing innovative practices in local markets, including Nigeria.
Baxter reiterated the UK’s commitment to enhancing economic ties with Nigeria across various sectors, including education, energy, and infrastructure. He highlighted the importance of education in this partnership, as it connects cultures and ideas. In her remarks, Lagos State Secretary Ms. Bimbola Salu-Hundeyin called this launch a historic milestone, indicating a positive perception shift for Nigerian education globally.
Ms. Salu-Hundeyin praised Westerfield College’s UK campus as a testament to Nigeria’s educational advancement abroad. She suggested that it symbolizes hope for global unity through education and emphasized the institution’s potential to create international partnerships. This initiative highlights the capabilities of Nigerian education and its global impact.
Michael Dosunmu, the Founder of Westerfield College, clarified that the expansion to the UK aims to complement rather than detract from its Nigerian offerings. The new campus will offer diverse programs, including pre-university courses and English language training. He assured that the educational standards will remain high, even with higher tuition fees.
The expansion to the UK is seen as a strategic move to enhance Nigeria-UK trade relations. Dosunmu acknowledged the UK’s role in Foreign Direct Investment into Nigeria and the significance of Nigerian businesses finding a foothold in the UK market. Westerfield College, established in 2011, has witnessed substantial growth in Nigeria before its UK expansion.
The bilateral trade relationship between the UK and Nigeria has significant implications for both nations’ economies. The UK has historically been a major source of foreign investment into Nigeria, fostering relationships that encourage Nigerian businesses to establish a presence in the UK market. The expansion of educational institutions like Westerfield College into international markets symbolizes the growing recognition and quality of Nigerian education, further promoting economic ties between the two nations.
The UK-Nigeria trade relationship is robust, with trade exceeding £7.5 billion, as highlighted by the Deputy High Commissioner Jonny Baxter. The launch of Westerfield College in the UK exemplifies the expanding educational and economic cooperation between the two countries. Increased investment and education collaboration demonstrate the potential for deepening ties that benefit both sides in various sectors, further facilitating growth and partnership in international business.
Original Source: www.arise.tv
