THE 2ND ANNUAL

UK-Nigeria Trade & Investment Mission Summit 2023

THEME: “Building Sustainable Trading and Investment Roots: and understanding the ‘Rules of Origin for Nigeria”

28th August to 4th September 2023 @ The Cities of London and Birmingham.

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Click below to register, for interest to participate in the 2nd Uk-Nigeria Trade and Investment mission summit 2023

THE 2ND UK-NIGERIA TRADE AND INVESTMENT MISSION SUMMIT 2023

About this event

The ties between Nigeria and the UK may have been deep-rooted in its historical and political heritage although over the past sixty years it has since evolved into a more dynamic relationship that includes education, trade, arts and culture exchanges. The UK and Nigeria have an excellent
commercial relationship with over £6.1 billion worth of trade per year and the 2nd largest African market for goods.

UK companies are extremely well-known in Nigeria and UK brands (especially luxury goods) are in very high demand, from household items to whiskey. Nigeria has one of the
lowest income tax rates in the world, 7%-24%, and therefore the growing consumer base of
Nigerians has a lot more disposable income.

As a foreign investor, there are investment incentives in
Nigeria. Some of these incentives cover all sectors, while others are limited to specific sectors.

The first UK-Nigeria Trade and Investment Mission was held in April 2022 in the cities of London and Peterborough, with participants from Nigeria and UK. The Nigeria delegation was led by the Hon. Minister for Industry, Trade and Investment, His. Excellency Otunba Adeniyi Adebayo, accompanied by the Hon. Minister of state for Finance, Budget and National Planning, Prince Clem Agba with both ministries Permanent Secretaries, Senior Directors, delegations from the Nigeria Port Authority, Standard Organisation of Nigeria, Nigeria Export Processing Zone Authority, Nigeria Oil and Gas Free Zone Authority; and from the private sector delegation are, top directors of, Agro-Allied Commodities and Produce Services Ltd Nig, OFICON Group Ltd Nig, Automatic Fit and Energy Ltd Nig, Fisolak Global Resources Ltd Nig, and British Nigeria Business Network while the UK participants were representatives of the House of Lords led by Lord Taylor of Warwick, representatives from the
Commonwealth’s trade department, Foreign and Commonwealth office, DIT East of England office, British Africa Business Alliance, Opportunity Peterborough, Commonwealth Entrepreneurs Club UK, while we had private businesses such as; Wanis International UK, ETK Group UK, Across Atlantic UK, Book Aid Africa, Chelgate Group, Genesis Energy Group, GKB Ventures UK, Alvan Blanch UK, Angle Meals, Grovemere Property Cambridge, Lancaster Business Park Ely, Paragon Precision Engineering Ely, Cambridge Commodities.

RULES OF ORIGIN

Rules of origin (RoOs) are used to determine where goods are ‘from’, for example, where they have been produced or had substantial work done to them. This is used in determining appropriate tariff rates, access to preferential trade arrangements or application of trade sanctions.

Rules of origin provide the criteria for testing whether a good can be considered to have been produced in a particular country. They determine whether a good qualifies for any reduction in tariffs.

The Developing Countries Trading Scheme cuts administrative costs for businesses by reducing more tariffs and bringing more countries in scope of the most generous tariff reductions. It also cuts red tape for developing countries, for example by simplifying rules of origin requirements for the least developed nations. This helps the world’s poorest countries to export to the UK and play a more active part in fast growing global supply chains.

It also helps lower costs for UK businesses, leading to lower prices for consumers across a range of everyday products, by reducing tariffs on imports from low income and lower-middle income countries. Increasing trade and decreasing tariffs is another way the government is supporting businesses and individuals with cost-of-living increment.

The government is introducing the Developing Countries Trading Scheme (DCTS) to improve access to the UK market for developing countries. The DCTS will come into effect in early 2023. In line with the government’s new International Development Strategy, the scheme contributes to developing countries’ integration into the global economy, creating stronger trade and investment partners for the future, and strengthening supply chains. It grows free and fair trade with developing countries, boosting the economy and supporting jobs in those countries, as well as in ours.

With the theme of this year summit centred on: “Building Sustainable Trading and Investment Roots and understanding the ‘Rules of Origin for Nigeria”. The Trade Mission and Summit would be exploring the potential opportunities in which the Rules of Origin and DCTS in 2023, would do in projection balance exports of both fresh/processed and finished Agro-produce to the UK market, considering the tendency of Nigeria opening up to a Non-Oil Economy, new money, through its next 5 years National Economic Development Plan, which tends to promote private sector-led non-oil growth to build the foundation for economic diversification.

Based on the above the activities of this year’s mission and summit would be focused on two major economic cities of the United Kingdom, which are; City of London, the financial heart beat, and the City of Birmingham, the Black-County and the sustained Industrial heartland of the Northern Power House.

As a result of the need for access and roots to exports, we would make possible arrangements for delegates, especially intended exporters and Nigeria Port Authority officials to visit at least two major UK ports. There are 7 major shipping ports in the UK, managed by 5 different privately run companies.  For the purposes of this mission we would consider visiting the Ports of Felixstowe, somewhere up North and the Ports of London (Tibury) down South.

Rationale For The Trade Mission

Mobin Rafiq
– Chairman CommonwealthEntrepreneurs Club UK –
“In Nigeria, the potential is there but something needs to be done”

Jan. 2020

UK-Africa Investment Summit in view of the final withdrawal of UK from the EU on the 1st of Jan 2021 to drive for new trade and investment agreements with Africa and Nigeria especially.

Oct. 2020

The Prime Minister’s appointment of Hon. Helen Grant MP, our London Political Summit ambassador as Trade Envoy to facilitate trade deals on behalf of the United Kingdom with Nigeria

Dec. 2020

Brexit deal done, ushering exponential opportunities for trade relations betweenAfrica, the United Kingdom and the EU

Jan 2021

UK-Africa Investment Conference 2021 toexpolore trade relations to facikitate Africa’sgrowth trajectory.

April 2021

International Business Round Table with overwhelming commitments from the public and private sector for a trade mission to the United Kingdom

April 2022

Trade Mission to the United Kingdom

July 2023

Proposed Trade Mission to the United Kingdom

BENEFITS OF THE TRADE MISSION

Induction of key delegates into international entrepreneurship bodies

World-renown business groups with an extensive network of partners - courtesy of C&M partnership as benefits of attending the summit in the UK

Our expected Special Guests & Speakers

The 2nd UK-Nigeria Trade and Investment Mission Summit

HON. OTUNBA A. ADEBAYO

Honorable Minister of Trade, Investment and Industry

AMB. ALH. SARAFA TUNJI ISOLA

Nigerian high commissioner to the Uk

MR MOBIN RAFIQ

The Chairman Commowealth Entrepreneurs club

MR DAVID SMITH

Chairman British African Business Alliance

DR. CLINTON LIU

CEO MCG Global

CLIR. MUHAMMAD BUTT

Leader of Council London Borough of Brent

ROD BASSETT

Director & Head Agriculture and Food Investments United Green

Our Conference Venues

Millennium Gloucester Hotel London Kensington

4-18 Harrington Gardens, South Kensington, London SW7 4LH, United Kingdom

Hyatt Regency Birmingham

2 Bridge St, Birmingham B1 2JZ, United Kingdom

Supported By:

The Trade Mission Summit Gallery

Address

  • UK Address: CaterandMerger Consult Ltd. Ailia Future Business Centre London Road. Peterborough PE2 8AN. United Kingdom
  • NGN Address: Suite 5, 47 Lakechad Crescent, Maitama, Abuja, Nigeria

Contact

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