In a striking display of collaboration and economic prowess, EnterpriseNGR and the Lagos State Government recently took centre stage at the prestigious Lord Mayor’s Show in the heart of London. This event not only showcased the vibrant culture and economic potential of Lagos but also laid the groundwork for a promising future in the relationship between Lagos State, Nigeria, and the United Kingdom. The joint delegation, participating in the parade for the first time, made a powerful statement about Lagos’ ambitions to grow its economy and development thought private-public partnerships with the succinct and clear message that “Lagos is Open for Business”.
Cultural Extravaganza Meets Economic Brilliance: Making an unforgettable moment, was the float which represented the state, the representation of the recently commissioned Blue Line rail flanked by the ever-present Keke Marwa and the Eyo masquerades seamlessly highlighted not only the cultural richness of Lagos but also underscored the state’s economic significance. The vibrant display of the State’s heritage, business acumen, and innovation captured the attention of a global audience, creating a positive image for both EnterpriseNGR and Lagos State.
Strengthening Bilateral Ties: The participation of EnterpriseNGR and the Lagos State Government in the Lord Mayor’s Show signifies a deepening of ties between the UK and Nigeria. As the two entities collaborated seamlessly on the international stage, it sends a positive message to businesses and investors about the stability and attractiveness of Nigeria’s economic landscape. This strengthened relationship lays the groundwork for more extensive bilateral cooperation and trade agreements between the two nations. The Nigerian delegation also met with trade officials, investors, and the Lord Mayor of London. Discussions spanned cooperation in technology, creative industries, healthcare, real estate, and green financing. Governor Sanwo-Olu invited UK firms to explore investment opportunities across the State.
Foreign Investments and Business Opportunities: The positive outcomes from the Lord Mayor’s Show are not limited to domestic economic growth. Foreign investors are now eyeing Lagos State and Nigeria as promising investment destinations. With increased visibility and confidence in the Nigerian market, the stage is set for a surge in foreign direct investment (FDI). With Nigeria being the largest economy and the most populous nation in Africa, deepening trade and investment ties with the UK will be mutually beneficial. Total trade in goods and services (exports plus imports) between the UK and Nigeria was £6.9 billion in the four quarters to the end of Q2 2023, an increase of 18.5% or £1.1 billion in current prices from the four quarters to the end of Q2 2022. However, the UK is only the fourth largest source of foreign direct investment into Nigeria. The show served as a platform for EnterpriseNGR to pitch Nigeria as an ideal investment location, showcasing its strategic position in West Africa and its role as an economic powerhouse.
A Bright Future for Lagos’ Economic Landscape: The success at the Lord Mayor’s Show and Parade opens a wealth of opportunities for Lagos State and Nigeria. As the relationship with the UK deepens, sectors such as technology, finance, and renewable energy are poised for substantial growth. The positive momentum generated by this event has positioned Lagos State as the epicentre for innovation and economic advancement, making it an attractive prospect for foreign investors seeking a strong foothold in Africa.
The participation of EnterpriseNGR and the Lagos State Government in the Lord Mayor’s Show marks a turning point in the economic narrative of Nigeria. As the positive momentum continues, Lagos State and Nigeria are well-positioned to harness the opportunities that lie ahead, making strides toward a more prosperous and interconnected global future.Tags: EnterpriseNGR, Lagos Open for Business, The Lord Mayor's Show
Categorised in: Media & Events
This post was written by enterprisengr