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By Rukayat Moisemhe
Experts in bilateral trade have urged stronger commercial collaboration between Nigeria and the United Kingdom to convert longstanding ties into tangible investments.
They made the call on Tuesday in Lagos during the Nigerian-British Chamber of Commerce Members’ Evening and induction ceremony.
Mr Sam Abu, Regional Senior Partner at PricewaterhouseCoopers Nigeria, said trade relations remained robust but required deeper structural engagement.
Abu cited data showing over 3,000 UK-registered firms exported to Nigeria, while about 700 companies imported into the UK.
“The foundation is strong; the real question is what we build on it. We must focus on sectors where UK capabilities meet Nigeria’s needs,” he said.
He identified infrastructure and urban development as key opportunities, noting Africa’s infrastructure financing gap ranges between 68 billion and 108 billion dollars annually.
Abu said Nigeria accounted for a significant share of the gap, requiring investment in transport, housing, water systems and ports.
He referenced recent UK-backed financing for port rehabilitation in Lagos as evidence of successful cross-border collaboration.
On energy, Abu said Nigeria’s 210 trillion cubic feet of proven gas reserves positioned it among the world’s top holders.
He stressed the need for investment across the gas value chain, including processing, pipelines, LNG expansion and compressed natural gas applications.
In spite of opportunities, Abu cited regulatory inconsistency, infrastructure deficits, weak contract enforcement and security concerns as barriers to investment.
He noted recent reforms had improved the macroeconomic environment and enhanced Nigeria’s attractiveness to investors.
“Professional advisory services, stronger institutional collaboration and local capacity development are critical to unlocking sustainable investments.
“The gap between a memorandum of understanding and a signed agreement is where most opportunities fail. We must move from conversations to capital deployment,” Abu said.
He said bilateral trade reached about eight billion pounds in 2025 but required stronger conversion into long-term productive investments.
Abu stressed that sustained partnership must be built on policy, capital and trust, alongside enduring people-to-people relationships.
The NBCC President, Mr Abimbola Olashore, said the gathering highlighted commerce’s role in driving economic opportunities and national development.
“We arrive from different sectors, united by commerce’s power to open doors for ourselves, the people we serve and the nation.
“An evening like this offers time to reflect on our legacy and look ahead to fresh ideas and stronger partnerships,” Olashore said.
He described the chamber as a “living connection” between Nigeria and the UK, built on trust and strengthened over nearly five decades.
According to him, the induction of new members reflects commitment to excellence and belief in strategic business practices.
“To our new inductees, you join a community of visionaries, pledging to contribute fresh perspectives to this chamber’s vision,” he said.
Olashore commended members for resilience, noting their dedication sustained the chamber through economic cycles and key milestones.
He added that beyond formal engagements, meaningful business outcomes often emerge from informal interactions and collaborations. (NAN)
Edited by Chinyere Nwachukwu / Kamal Tayo Oropo
