Jeremy Hunt - UK Politics Headline News Today

Nigeria and Britain aim to deepen insurance sector ties and look into introducing naira-denominated instruments onto London’s financial market, the trade ministry in Abuja said, as Britain makes efforts to expand trade links with partners beyond the EU.

Trends For You 🔥

Thursday’s ministry statement followed a visit to Nigeria by British foreign minister Jeremy Hunt, on a week-long international tour to push for a greater UK diplomatic presence in Africa.

Advising Nigeria’s government to improve the investment climate, Hunt said that, with Britain planning to leave the European Union, now was a good time to focus on bilateral ties.

“The bilateral relationship can improve growth in both countries,” the ministry quoted him as saying. “Britain has a big pool of funds that could be tapped for investment in infrastructure in Nigeria.”

Africa represents 2 percent of British trade activity, with Nigeria accounting for a tenth of that, according to the trade ministry.

Britain’s government and parliament remain deadlocked over Brexit. Long scheduled for March 29, it was delayed last month until Oct. 31.

Nigeria’s economy is undergoing a fragile recovery from its worst recession in a generation, with dilapidated infrastructure and a legacy of corruption holding it back.

Readers Also Enjoyed 🔥

The two countries last year launched an economic development forum, which Nigerian trade minister Okechukwu Enelamah said would work towards improving the investment climate over the next six to 24 months.

  • Reuters

Most Popular 🔥

Thank you for visiting Politicoscope.com. Show your strong support.
+ Share this content with all your friends or Discuss this below.
+ Submit news or tips for free publication on Politicoscope.com.

NEWSLETTER: Subscribe For Content Like This And More.

Donate

Donate now to help us provide more story like this.



More Donation Options

* Here are other Donation options for you.

* For Premium News readers, you can register here today.

Donate

Donate now to help us provide more story like this.



More Donation Options

* Here are other Donation options for you.

* For Premium News readers, you can register here today.