UK, Nigeria trade volume hits £7.2 billion
British High Commissioner to Nigeria, Richard Montgomery CMG, has underscored Nigeria’s strategic importance to the United Kingdom, having emerged the country’s second-largest trading partner in Africa, with current trade volume put at £7.2 billion.
Speaking yesterday at the UK-Nigeria economic growth media conference, the High Commissioner also identified Nigeria as his country’s largest export market, describing the trade relation as a cornerstone of broader bilateral ties between the two countries.
On UK plans to tighten visa rules, announced recently by the government, the envoy noted that though the European nation valued the contributions of health care workers in the country, the huge number of migrants, however, amounting to about 2.6 million in six months was not sustainable for the economy.
According to him, Nigeria constitutes about 10 per cent of visitors to the UK yearly, reiterating that the country was continually opened to investors and those with genuine reasons for visiting. He expressed worry over fraudulent immigration processes perpetuated by some people.
Speaking on Nigeria’s economy, Montgomery was excited that President Bola Tinubu’s ongoing reforms were making the country accessible for foreign investors.
The envoy, however, decried the prevailing security situation, describing it as worrisome.
Briefing journalists at his residence in Abuja, Montgomery attributed the situation to spill-overs from Sudan and Niger.
He said the UK government was collaborating with the Office of the National Security Adviser, as well as through investments in security infrastructure, to address the situation.
He expressed concerns over visa fraud cases in the country, stressing that the situation was connected to the recent cases of visa rejections.
The envoy advised visa applicants to provide the right supporting documents to stand a chance.