It has been indicated that trade between Nigeria and Britain has the potential to hit 20 billion pounds by year 2020 if government remains anticipative and encourage business to strive. The president of Nigerian-British Chamber of Commerce (NBCC), Prince Yemi Adefulu, reported this during a press briefing heralding its Centenary celebration in Lagos.
Adefulu said that the trade between Nigeria and Britain which grew to eight billion pounds from four billion pounds in four years has simply scratched the surface, saying that the base already exists to promote the trade between the two countries exponentially and that government must also accord priority attention to the provision of critical infrastructure that will enable businesses to grow and remove undue costs.
He made known that it is the responsibility of the government to generate and nurture an enabling environment which will attract foreign investment and promote export of Nigerian goods. Also, that with the right policies in place, products and services should be moving daily between the two countries.
According to Adefulu, “We at NBCC stand as the facilitator of trade between Nigeria and Britain for mutual benefit of both countries. We represent the best of each to the other. We now partner with the United Kingdom Trade and Investment Agency (UKTI) and encourage the import of value enhancing products to Nigeria from Britain which will help value creation and processing of our local products. We also partner with Nigeria Export Processing Council, NEPC to facilitate the export of Nigerian goods and services to the UK market.”