Experts want UK to leverage gas opportunity as Nigeria’s $440bn economy recovers

As Nigeria’s economy begins to make some progress, experts want the United Kingdom to take advantage of various untapped opportunities in the gas sector.
Speaking as a guest at the 40th anniversary dinner of the Nigerian-British Chamber of Commerce (NBCC) held in Lagos, Donald Duke, former governor of Cross River State, said the UK could make a lot of money from gas flaring.
“Nigeria is currently witnessing a lot of wastage in gas flaring, instead of embarking on gas piping, which is a huge business that the Britain should take advantage of, since there is an existing business relationship between Nigeria and Britain under the platform of NBCC,” said Duke.
He said Nigeria had quality human resources across the world but lacks the proper infrastructure to turn opportunities into money spinning ventures, which was why the UK must see huge opportunities in the challenges facing Nigeria as a country.
He said over 10 percent of people in top positions in the UK were Nigerians turning opportunities into money ventures across the globe but could not do so in their country owing to poor infrastructure.
He called on the NBCC to diversify its trade business with the UK, insisting that Nigeria could become one of the largest non-oil export goods countries if given the opportunity.
Dapo Adelegan, president and chairman of council, NBCC, said between 2010 and 2014, NBCC played a critical role in doubling trade between both countries from £4 billion to £8 billion as envisaged by the governments of both countries.
“As the second largest trading partner to the UK, Nigeria looks forward to assist the UK navigate Brexit and NBCC looks forward to further trade and investment expansion with the UK under the emerging economic regime,” Adelegan said.
“In 2014, we set the record as the only bilateral chamber of commerce in the world to celebrate a centenary of economic relations with the UK, and we look forward to celebrate a second centenary as we work towards diverse milestones,” Adelegan said.
“We are now building the NBCC plaza at Lekki, Lagos, to further cement our commitment to drive sustainable economic relations between Nigeria and the UK,” Adelegan said.
In his welcome address, Akinola Akintunde, chairman, NBCC 40th anniversary committee, thanked members of his committee for making the anniversary dinner a success.
Part of the highlights of the anniversary dinner was investiture of patrons and the recognition of new members of NBCC. Some of the patrons that were decorated included founder, Dangote Group, Aliko Dangote; Capital Market icon, Michael Olasubomi Balogun; the British High Commissioner to Nigeria, Paul Thomas Arkwright, and Governor Akinwunmi Ambode of Lagos State.
 

ODINAKA ANUDU