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Nigerians in diaspora weigh up £57bn investment in Nigeria

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Nigerians residing in Britain are currently weighing up the possibility of critically examining the current strength of Nigerian fund in the United Kingdom totalling up to the sum of 57billion pounds to invest in the country, through the first Nigerian-British economic summit to be held later in the year.

This was disclosed on Monday by the chairman, Nigerian Global Business Forum, Mr Afolabi Andu while addressing participants at the signing of Memorandum of Understandings (MoU) between the Forum and some stakeholders at its Nigerian headquarters, 18, Oba Akran Akenzua avenue, Oba Olagbegi avenue, Oshuntokun avenue, Old Bodija, Ibadan.

The Nigerian Global Business Forum is a consortium that represents business forum in several countries across the globe and which presents a huge responsibility in ensuring that it is able to create a seamless and stress-free process for member countries in America, Europe and the Carribean Islands.

Andu stated that “the first Nigerian-British economic summit will be held later on this year at the Imperial College London. The event will be organised by the Nigerian-British Business Forum, Economic Unit and the aim is to critically examine the current strength of the Nigerian pound in the UK which is estimated at about 57billion pounds. The result of NBBF’s findings will enable us at the global level recommend strategies that will support an effective inflow of investments to varying critical sectors in Nigeria. The success of our British case study will also be applied to the Nigerian American Business Forum alongside our other business forums globally.

“It is crucial that I also bring to your attention this afternoon that the true and sustainable investment that will set Nigeria on the path of a real economic recovery can only be firmly achieved through consistent direct investments by Nigerians in the diaspora.”

He added that “the continual reliance and constant expectations for others to build the Nigerian economy and develop our infrastructures will always remain a mirage if we continue to sit on the fence of apathy and poverty of mind. We must all rise to take advantage of the enormous and unmerited resources that Almighty God has endowed upon us as a nation.”

Earlier, Mr Andu paid a facility visit to the Federal College of Agriculture,Moor Plantation, Ibadan, where he was received by the Executive Director of the institution, Dr Babajide Adelekan, and other members of staff, to discuss exchange of ideas and investment in agricultural business.

At the College, Andu promised that the Business Forum is seeking partnership and support relationship with the institution.

At the programme, the Forum also signed Memorandum of Understanding (MoU) with the Federal College of Agriculture, Oklan best Industries and Skodak Industries after some presentations from the Chief Executuives Officers (CEOs) of these institutions.

The representatives of the institution and industries; Dr Babajide Adelekan, Mrs Lanre Nwankwo and Mr Olubunmi Oyefeso, respectively promised to ensure a good and harmonious working relationship with the Nigerian Global Business Forum.

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