Explore our work by: Country 21/04/2021 UK-Nigeria Investment Summit Bringing together UK and Nigerian businesses to attract investment into Nigeria’s infrastructure sector African cities are sprawling – Nigerian ones in particular. Nigeria’s infrastructure and economic development however lag far behind one of the highest population growth rates in the world. More than ever the country’s future depends on its ability to build and modernise its infrastructure and attract investment. The latter is especially important because the country’s ambitious infrastructure plans require large financial resources. Earlier this month, our Future Cities Nigeria project partnered with the Ogun State Government and the UK Department of International Trade to bring together UK and Nigerian business, government and development players. The purpose: better understand investor interests, required investment protections as well as present tangible investment opportunities in the areas of urban and transport infrastructure – particularly relating to the master plan to connect the Lagos metropolitan area to Ogun state via the Lagos-Ibadan Expressway, which is the busiest arterial route in West Africa. Helen Grant MP, the UK Prime Minister’s Nigeria Trade Envoy, delivered the opening address, along with Guy Harrison (Foreign and Commonwealth Development Office), and Naomi Hoogervorst (UN Habitat). In her opening address, Ms. Grant remarked: “Making Nigeria an even more appealing destination for investment will be vital in addressing the social, human, economic and financial impact of Covid. It will mean we all have to work even harder to build those new and exciting UK-Nigeria economic partnerships (…). Particularly transport and infrastructure investments can really boost growth and we are very keen to bring more investors into thriving destinations such as Lagos and Ogun State.” The virtual summit received excellent feedback from its over 65 participants, amongst them three State Commissioners from Ogun State and several UK and Nigerian business leaders. In his presentation on ‘Creating an Enabling Environment for Investment in Ogun State’, Dapo Okubadejo, Commissioner for Finance and Chief Economic Adviser to Ogun State, said: “Our vision is to make Ogun State the fastest growing economy in Nigeria and maximise opportunities for all its citizens (…). We aim to drive the agenda through public-private partnership.” Participating UK business leaders included James Freeman, retiring MD of First West of England; Justin Coetzee, CEO GoAscendal; and Ade Obatoyinbo of Cummins West Africa, amongst others. FCDO funds Future Cities Nigeria, which in turn develops investable, bankable projects in Ogun State like supporting the transition mass transportation vehicles that run on alternative fuels. These projects are aligned with the UN Sustainable Development Goals (SDGs) and are inclusive, climate resilient and reduce CO2 emissions. The positive deliberations from the event have set the foundations what will be the larger summit planned by the Ogun State Government with support from Future Cities Nigeria. RELATED ITEMS (93) REPORT LSE Graduate Team Research Project – The Gender Funding Gap in Venture Capital REPORT Transforming Cities to Achieve Sustainable and Inclusive Development REPORT Protected: Embedding Inclusiviy into Infrastructure Development ARTICLE ASI Game Changers: Meet Oli in Nigeria REPORT Strengthening Water, Sanitation and Hygiene (WASH) Systems ARTICLE ASI Game Changers: Meet Umar in Nigeria CLICK FOR MORE Who we are About ASI Our services Our leadership Policies What we do View by country View by service News & resources Join us Work with us Rewards & benefits Recruitment process Corporate positions Project positions Useful links Contact us Office locations CONNECT WITH US Privacy NoticeModern Slavery StatementSpeak up line © Adam Smith International 2021 Cookie notice This site uses cookies to provide you with a great user experience. By using Adam Smith International, you accept our use of cookies