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The United Kingdom is set to sign the Enhanced Trade and Investment Partnership (ETIP) with Nigeria, marking the first partnership of its kind with an African country. This move aims to bolster trade and investment, fostering new opportunities for businesses in both nations.
The partnership, focusing on various sectors such as financial and legal services, seeks to deepen collaboration in legal services, film, media, and education.
Nigeria, the largest economy in Africa, is predicted to nearly double its population by 2050 and is poised for substantial economic growth. The signing ceremony will take place in Abuja, attended by UK Business and Trade Secretary Kemi Badenoch and Nigerian Trade Minister Doris Nkiruka Uzoka-Anite.
The partnership aims to create a more favorable trading environment, remove trade barriers, and facilitate increased collaboration between the two nations.
Additionally, during her visit, Secretary Badenoch will witness the signing of an energy agreement between UK-based Konexa and Nigerian North South Power, enabling the supply of 100% renewable power to Nigerian Breweries PLC and promoting sustainable development.
This agreement is anticipated to lead to infrastructure investments exceeding £14 million, showcasing a commitment to clean energy adoption and investment in renewable energy solutions. |
