News Agency of Nigeria
ECOWAS Parliament must deploy AI tools for legislative efficiency — Expert
Foreign

ECOWAS Parliament must deploy AI tools for legislative efficiency — Expert

By Mark Longyen

Dr Christian Odo, an Artificial Intelligence (AI) expert, has said that the ECOWAS Parliament must deploy AI technology tools to enhance its legislative efficiency, transparency, as well as oversight functions.

He stated this at the ECOWAS Parliament’s 2025 Second Extraordinary Session with the theme: “Harnessing Artificial Intelligence for Parliamentary Efficiency, Ethical Governance and Development in the ECOWAS Region,” on Tuesday, in Port Harcourt.

The News Agency of Nigeria (NAN) reports that the weeklong seminar aims to acquaint the regional parliamentarians with AI technology, and how to deploy it across all facets of lawmaking and oversight.

Odo, the Head of ICT Unit, National Institute for Legislative and Democratic Studies (NILDS), Abuja, spoke as a resource person on the topic: “AI For Parliamentary Efficiency and Oversight.”

He defined AI as the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings, which should be harnessed to transform all parliamentary functions.

“Parliaments are knowledge-driven institutions that process large amounts of information, ranging from legislative texts to budget reports and citizens’ petitions.

“AI can transform various aspects of parliamentary work, from streamlining administrative tasks to enhancing legislative research and improving public engagement process, as well as parliamentary transparency efforts.

“Artificial Intelligence, therefore, offers tools to enhance efficiency, transparency, and oversight in governance,” he said.

Odo noted that there has been a global surge in the adoption of AI by legislatures in Europe, the Americas, Asia, and Africa, all aimed at strengthening parliamentary decision-making.

He encouraged the lawmakers to embrace AI and make the subregional bloc, ECOWAS, relevant, adding that AI would address ECOWAS’ challenges of limited resources, weak institutional memory, and oversight gaps.

The expert listed areas where AI could transform parliamentary functions to include: efficient legislative drafting and analysis, automated summarisation of bills and amendments, and AI-powered translation for multilingual legislatures, among others.

“Parliamentary oversight is a critical function of democratic governance, ensuring that the executive branch and other public institutions are held accountable for implementing laws, policies, and legislative resolutions.

“Integration of AI, mobile data collection tools, and interactive dashboards has transformed how oversight activities are conducted.

“These technologies enable legislators, committees, and support staff to conduct research efficiently, collect field-level data, and track the implementation of resolutions in real time,” he said.

He urged the parliament to deploy AI technology tools in its oversight functions, stressing that these would detect corruption, track policy implementation, and strengthen budget monitoring.

Odo said that in budgetary oversight, for instance, AI systems could track government spending against approved budgets, early warning systems for financial irregularities, and predict socio-economic impacts of policies, among others.

According to him, AI tools will help the lawmakers in monitoring the implementation of parliamentary resolutions, adding that mobile data collection tools allow real-time field reporting, from remote to rural areas.

“AI tools can monitor misinformation/ disinformation campaigns targeting legislative work, enhance cybersecurity for parliamentary data, transparency and trust, fastrack decision-making, and institutional memory,” he said.

He emphasised that adopting AI-powered research tools, mobile data collection technologies, and interactive dashboards offers parliaments a modern, efficient, and transparent way to perform oversight and monitor the implementation of legislative resolutions.

“Investing in these technologies and building staff capacity, legislatures can enhance accountability, improve public trust, and ensure that resolutions translate into tangible outcomes for citizens.

“AI, therefore, has the potential to transform parliamentary efficiency by automating legislative work, improving access to information, and enhancing citizen engagement,” Odo added.(NAN)

Edited by Abiemwense Moru

Okpebholo seeks diaspora partnership for Edo investment
Foreign

Okpebholo seeks diaspora partnership for Edo investment

By Fortune Abang

Gov. Monday Okpebholo has reiterated his administration’s commitment to partnering with Edo indigenes in the Diaspora to foster growth and unlock new investment opportunities in the state.

Okpebholo stated this during a dialogue with Edo indigenes in Diaspora in Glasgow, Scotland, according to a statement made available to the News Agency of Nigeria (NAN) on Tuesday.

He said his administration’s vision was anchored on innovation, transparency, and practical, people-centred governance for sustainable development.

The event, tagged Edo State Global Investment Summit 2025, held from Saturday to Monday with the theme: Catalytic Partnership: Global Funding and Local Impact.

The summit brought together global leaders, investors, and development partners to explore strategies and partnerships to drive growth in Edo and other emerging regions.

Okpebholo said the theme reflected his belief that strong partnerships could transform global opportunities into prosperity and improved quality of life for local communities.

“Edo has always been a land of heritage and creativity. From ancient bronze works to today’s youth innovation, resilience defines us. That’s why Edo is now truly open for business.

“In just eight months, we have renovated 68 schools, inaugurated the 36km Gelegele Road project to support our future seaport, and rolled out initiatives in health, infrastructure, and livelihoods,” he said.

He stressed that leadership required presence and listening.

“My duty is not to sit in the office but to listen, act, and get the work done for Edo people. Together, we are building an Edo where every naira counts, every citizen matters, and promises are translated into progress,” he added.

Dr Loretta Ogboro-Okor, Director-General, Edo Diaspora Agency, said the summit showcased the power of unity, innovation, and the critical role of Edo’s global community in development.

Amb. Kingsley Obasohan, Director-General, European African Chamber of Commerce and Industries, announced a 250 million dollar investment in Edo through the Edo Diaspora Agency and private sector partners.

Goodwill messages were delivered by Mrs Blessing Ayogu (Adolor of Emu Kingdom), the Atayese of Ikateland, and Dr Astrid Arens, Senator for Sustainability with Germany’s Federal Economic Development Association.

Also in attendance were the U.S. Foreign Trade Advisor, the Founder of the Nigerian Capital Development Fund (NCDF Group), and other stakeholders aligned with Edo’s transformation agenda. (NAN)

Edited by Deborah Coker

Tinubu seeks reform of global financial architecture to benefit Africa’s minerals
Foreign

Tinubu seeks reform of global financial architecture to benefit Africa’s minerals

By Salisu Sani-Idris
President Bola Tinubu has called for a complete overhaul of the global financial architecture governing Africa’s mineral resources.
Tinubu, represented by Vice-President Kashim Shettima, made the call at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa.
The News Agency of Nigeria (NAN) reports that the event held on the margins of the 80th Session of the United Nations General Assembly, New York City.
Tinubu said it was time for African nations not only to finance their own mineral sectors but also to assert greater influence and control over the global supply chains of African products.

He stressed that such action was necessary to safeguard the sovereignty of African nations.

Tinubu further urged collective efforts by development partners and allies to help unlock the continent’s mineral economy for the benefit of Africa.

“We must take the bull by the horns in financing our future. Never again shall we wait for capital to trickle in.
“With sovereign funds, blended vehicles, and innovation tools like the Africa Mineral Token, Africa shall finance Africa.
“To safeguard this sovereignty, we must guard our cobalt, lithium, graphite, gold, and rare earths not as fragmented states but as one continental bloc, wielding collective power in global supply chains,” the President submitted.
He pledged Nigeria’s commitment towards catalysing a mineral-led renaissance under the Renewed Hope Agenda, as exemplified back home.
Tinubu urged African leaders to end the “ignoble cycle” of importing finished goods through accelerated government-led mineral exploration.

To unlock Africa’s mineral economic future, President Tinubu said the objective would be realised through four key imperatives.

He urged African nations to move up the value chain, saying: “We must end the ignoble cycle of exporting rocks and importing finished goods.

“From beneficiation to green manufacturing, Africa must build industries on African soil.

“Second, I am proud to announce the African Minerals and Energy Resource Classification (AMREC) and the Pan-African Resource Reporting Code (PARC).
“We will no longer beg for geological knowledge of our own land. Africa’s data will be mapped, standardised, and owned by Africans.
“Third, data alone is not enough. We must accelerate government-led mineral exploration and national geological mapping.
“Without exploration, there is no sovereignty. Without mapping, there is no value.
“Every member state must prioritise country-wide surveys, strengthen geological agencies, and pool expertise through AMSG. For when Africa owns the map, Africa owns the future.”
Tinubu urged African leaders to take the bull by the horns in financing Africa’s future.
“With sovereign funds, blended vehicles, and innovative tools like the Africa Mineral Token, Africa shall finance Africa,” the President maintained.
The President demanded a collective demonstration of leadership while calling upon sovereign wealth funds, private partners, and development allies to join Africa in rewriting the story of Africa’s mineral economy.
“Nigeria, Uganda, Zimbabwe, Burkina Faso, Mali, Botswana, Gabon, and Ghana are already leading this new age of equal exchange, enforcing bans on the export of raw minerals to promote domestic beneficiation.
“Zimbabwe’s ban on raw lithium in 2022, Gabon’s decision to end manganese exports by 2029, and Kenya’s plan to restrict raw gold exports are historic acts of courage.
“Nigeria is accelerating similar reforms, for we know this is the road to jobs, to industries, and to prosperity,” the President said.
The president commended Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, who chairs the event, and the Secretary-General,  Moses Michael Engadu of Uganda, for guiding Africa towards a path of productivity and pride.
“As Chair of this roundtable, I pledge Nigeria’s unflinching commitment to ensuring that AMSG fulfils its promise of catalysing a mineral-led renaissance.
“Let us rise from this dialogue with a communiqué of clarity, a framework for action, and a spirit of unity.”
Earlier, Dr Alake, while welcoming stakeholders and partners to the event called for cohesion amongst African nations.
He said that with determined focus and a reinvigorated sense of partnership and transparency in the minerals sector, Africa would harness in all ramifications the total benefits of a sustained, deepened and well harmonised mineral sector.
The UN Assistant Secretary General and Regional Director, Africa UNDP, Ahunna Eziakonwa, urged African leaders to be cautious in terms of how they position themselves to make the most of the African resources for the people.
“Rather than to be subjected to extreme exploitation, which is already happening, and being extracted without appropriate value,” she said.
She also emphasised the need for leaders in the continent to ensure partnership that delivered technology transfer, beneficiation, and creates jobs.
“There is a scramble and a lot of interest in Africa’s minerals,  people are coming to partner, Africa can shape the quantum of that partnership and determine what works from the partnership.”
Also, Mr Jozef Stkela, European Union Commissioner for International Partnership, said in the last few years, the European Union structured its approach, boosted, and secured its supply of critical raw materials.
He said that the EU adopted the Critical Raw Materials Act in 2024, to increase domestic production and diversify supply outside the European Union.
“Under this Act and our global gateways strategy, we have signed 14 strategic partnerships with the raw materials value chain of which four are in Africa.”
In a related development, Vice-President Shettima also held a roundtable hosted by the Business Council for International Understanding in partnership with the Flour Mills of Nigeria and other conglomerates, where he spoke about the investment opportunities in Nigeria.
He also highlighted the ongoing economic reforms of President Tinubu’s administration.

Shettima told investors that President Tinubu remained a reliable ally and partner, noting that he understood the global business environment, having grown up in the American system.

He said the Nigerian economy had “turned the corner” under Tinubu’s sweeping reforms, pointing to the remarkable turnaround, stability, and positive economic indicators currently being recorded.

He urged investors to take advantage of the enabling environment and improved ease of doing business, stressing that there had never been a better time to invest in Nigeria.

In a related development, Shettima held a bilateral meeting with the Chancellor of Austria, Christian Stocker, on the sidelines of the UN General Assembly in New York, where both leaders agreed to strengthen ties and explore new areas of cooperation.(NAN)(www.nannews.ng)

Edited by Kevin Okunzuwa
Mali, Burkina Faso, Niger announce exit from ICC
Foreign

Mali, Burkina Faso, Niger announce exit from ICC

The military-led West African countries Mali, Burkina Faso and Niger have announced their withdrawal from the International Criminal Court, denouncing it as “a tool of neocolonial repression.”

The announcement, in a joint statement published on Monday, is the latest example of diplomatic upheaval in West Africa’s Sahel region following eight coups between 2020 and 2023.

The three countries, which are ruled by military officers, have already split from the West African regional bloc ECOWAS and formed a body known as the Alliance of Sahel States.

They have also curbed defence cooperation with Western powers and sought closer ties with Russia.

Mali, Burkina Faso and Niger have been members of the ICC, located in The Hague, for more than two decades.

Their statement said they viewed the court as incapable of prosecuting war crimes, crimes against humanity, crimes of aggression and genocide. It did not specify examples of where the countries believed the ICC had fallen short.

The three countries are battling Islamist militant groups that control large swathes of territory and have staged frequent attacks on military installations this year.

Human Rights Watch and other groups have accused the militants as well as the militaries and partner forces of Burkina Faso and Mali of possible atrocity crimes.

In April, United Nations experts said the alleged summary execution of several dozen civilians by Malian forces may amount to war crimes.

The ICC had an investigation open in Mali since 2013 over alleged war crimes committed primarily in the northern regions of Gao, Timbuktu and Kidal, which had fallen under militant control. Later that year, France intervened to push back the insurgents.

The Mali investigation was opened following a referral from the government at the time. (Reuters/NAN) (www.nannews.ng)

Edited by Hadiza Mohammed/Sadiya Hamza

EU, WHO counter Trump’s warnings on autism, pregnancy
Foreign , Health

EU, WHO counter Trump’s warnings on autism, pregnancy

The European Union and British health agencies confirmed the safety of paracetamol during pregnancy, disputing a warning from U.S. President Donald Trump linking the popular pain medication to autism.

The World Health Organisation said on Tuesday that evidence of a link remained inconsistent and urged caution in drawing conclusions.

Trump had on Monday linked autism to childhood vaccine use and the taking of Tylenol by women when pregnant, elevating claims not backed by scientific evidence to the forefront of U.S. health policy.

The European Medicines Agency (EMA) said on Tuesday that there was no new evidence that would require changes to the region’s current recommendations for the use of paracetamol, known as Tylenol in the United States, during pregnancy.

The EMA in a statement said “available evidence has found no link between the use of paracetamol during pregnancy and autism.”

It added that paracetamol could be used during pregnancy when needed, though at the lowest effective dose and frequency. On Monday, Britain’s health regulator said that it was safe to use.

“The evidence remains inconsistent,’’ WHO spokesperson Tarik Jašarević told a Geneva press briefing when asked about a possible link between paracetamol use in pregnancy and autism.

Jašarević cited unspecified studies that pointed to a possible link but said that this was not confirmed by subsequent research. “This lack of replicability really calls for caution in drawing casual conclusions,” he said.

In a highly unusual press conference at the White House on Monday, Trump delivered medical advice to pregnant women and parents of young children.

He repeatedly told them not to use or administer painkiller and suggesting that common vaccines not be taken together or so early in a child’s life.

The advice from Trump goes against that of medical societies, which have cited data from numerous studies showing that acetaminophen, the active ingredient in Tylenol, plays a safe role in the well-being of pregnant women.

Asked to elaborate further on Trump’s remarks, Jašarević added that vaccines did not cause autism and affirmed their life-saving qualities.

“This is something that science has proven, and these things should not be really questioned,” he added. (Reuters/NAN) (www.nannews.ng)

Edited by Hadiza Mohammed/Sadiya Hamza

Ibrahima tasks ECOWAS lawmakers on leveraging AI for effective legislation
Foreign

Ibrahima tasks ECOWAS lawmakers on leveraging AI for effective legislation

By Mark Longyen

The Speaker of ECOWAS Parliament, Hajia Memounatou Ibrahima, has called on the regional parliamentarians to leverage Artificial Intelligence (AI) tools for effective legislation and democratic governance in West Africa.

She stated this at the ECOWAS Parliament’s 2025 Second Extraordinary Session with the theme, “Harnessing Artificial Intelligence for Parliamentary Efficiency, Ethical Governance and Development in the ECOWAS Region,” on Monday in Port Harcourt.

The News Agency of Nigeria (NAN) reports that the weeklong legislative seminar aims to acquaint the lawmakers with AI technology and how to deploy it in critical sectors across Wes Africa.

According to the regional parliament speaker, leveraging the advent of AI by deploying it across all sectors is absolutely essential for a digitally inclusive and empowered West African subregion going forward.

“AI is a global competitive tool and legislators within the region must look into how to utilise AI to improve democracy by providing a better regulatory framework.

“AI is a tangible reality that offers better potential, which can help facilitate communication between parliamentarians and the people of West Africa to enhance social and economic growth,” she said.

Sen. Jibrin Barau, Nigeria’s Deputy Senate President and First Deputy Speaker of the Parliament, urged the lawmakers to deepen their understanding of AI, interrogate its risks, and propose concrete pathways to harness its benefits.

“AI is reshaping governance, economies and societies worldwide.

“For us legislators entrusted with the sacred duty of representation, lawmaking and oversight, AI presents opportunities to enhance efficiency, strengthen accountability and promote development,” he said.

Amb. Ahmed Dunoma, the Permanent Secretary, Ministry of Foreign Affairs, in a remark, said AI had evolved from a distant possibility to a present reality.

According to him, AI has influenced nearly every sector, be it education, health, security, commerce, communication, or governance.

He said that the challenge for West Africa was not whether AI would transform its societies, but how its leaders, policymakers, and parliamentarians would guide the transformation.

“This is to ensure that it strengthens democratic governance, deepens integration, and improves the lives of our citizens.

“Parliament is the heartbeat of democracy, so by leveraging AI, we can enhance legislative drafting, improve the quality and timeliness of oversight functions, and broaden citizen engagement in policy making.

“We must, however, not only remain vigilant but also proactive in addressing the ethical, security, and socio-economic implications of these technologies,” he added.(NAN)

Edited by Abiemwense Moru

U.S. reaffirms commitment to supporting Nigerian students seeking American education
Foreign

U.S. reaffirms commitment to supporting Nigerian students seeking American education

By Mark Longyen

The U.S. Government has expressed its continued commitment to supporting young Nigerian students, innovators and change-makers, who are willing to study in America.

U.S. Embassy Public Diplomacy Officer, Brian Neubert, stated this at the 2025 EducationU.S. Nigeria Fair, with the theme: “Empowering Futures, Discover American Excellence in Education and Innovation,” on Monday in Abuja.

The News Agency of Nigeria (NAN) reports that the event is a series of educational fairs held yearly in various countries to connect prospective students with U.S. higher education institutions.

The fairs provide opportunity for students, parents, and counselors to meet with representatives from various U.S. colleges and universities, get information on admission requirements, academic programmes, financial aid, and scholarships.

“The United States is proud to partner with Nigeria in empowering students, who are the next generation of leaders, innovators, and change-makers.

“Today we have representatives from 28 American colleges and universities, who want to meet you.

“EducationUSA brought them here because they want to recruit Nigerian students to their campuses,” he said.

Neubert explained that the EducationUSA team offers free counselling services to help prospective students navigate the application process.

He counseled the students to “responsibly maintain” their student visa status, if they eventually succeeded in getting their student visa.

This, he added, required that they must ensure compliance with all regulations, make the most of their time in the U.S., and take back to Nigeria all their cherished experiences.

“As you consider your next steps, know that you are joining a long tradition of Nigerian students, who have excelled in U.S. institutions, and gone on to make significant contributions to their communities and the world,” he added. (NAN)

Edited by Sadiya Hamza

Experts decry global inequality, urge Nigeria to embrace China’s GGI
Foreign

Experts decry global inequality, urge Nigeria to embrace China’s GGI

By Sarafina Christopher

Experts have decried the existing inequality in the contemporary global system, the impunity of major powers, and urged Nigeria to instead embrace China’s Global Governance Initiative (GGI) to foster inclusive development.

The international relations experts made the call during a one-day seminar on the GGI with the theme: “Opportunities for China-Africa Cooperation under the GGI,” on Thursday in Abuja.

The News Agency of Nigeria (NAN) reports that GGI is China’s framework designed to promote fairness, equity and inclusive development globally.

Mr Charles Onunaiju, Director of the Centre for China Studies, described the GGI as a timely response to “the obvious deficit in global governance,” particularly the exclusion of voices from the Global South in decision-making.

He warned that outcomes in the global system would remain “paralysed without the wisdom and input of the majority world.

“China has taken a bold step to bridge this lacuna with the Global Governance Initiative,” Onunaiju said.

“It is not just a slogan but an idea whose time has come. Nigeria must not stay on the sidelines.”

He also proposed the establishment of a Nigeria-China joint committee on the GGI to design action plans, exchange expertise, and strengthen cooperation.

Prof. Sheriff Ibrahim, Director of the Centre for Contemporary China-Africa Research, criticised global institutions for favouring “a handful of dominant powers at the expense of billions of others.”

He emphasised that exclusion begins at the UN Security Council, where only five nations hold permanent seats.

“There is a need to involve every continent, every region as a permanent member,” Ibrahim said.

“The impunity of powerful nations in breaching UN resolutions without consequence has eroded trust in international law. Reform is not optional, it is urgent.”

He also called for reforms in the International Monetary Fund and the G20 to reflect the realities of developing nations.

“What happens to Africa, the Pacific, Latin America or the Caribbean? Why is the Chinese yuan sidelined?

“Let there be inclusion in the international monetary establishment,” he added.

Dr Sam Amadi, Director of the Abuja School of Social and Political Thoughts, described China’s proposals as both “ambition and opportunity.”

“China seeks a fairer world order.

“Nigeria must position itself strategically to benefit from this shift,” Amadi said.

He added that Nigeria’s key lesson from China was the importance of adaptive reforms.

“China did not copy models blindly. Under Deng Xiaoping, it adapted reforms to its own reality.

“Nigeria must do the same industrialise, stabilise politically, and then leverage initiatives like the GGI.

“We cannot remain weak domestically and expect to benefit globally,” he stressed.

Dr Muhammad Sani of the Department of Mass Communication, Baze University, noted that the GGI speaks directly to Nigeria’s push for fairness and inclusive development.

“It levels the playing field for developing nations and restores justice in global decision-making,” he said.

According to him, Nigeria’s BRICS membership, peacekeeping record, and advocacy for UN reform already align with GGI principles.

“With GGI frameworks, Nigeria can diversify trade, expand renewable energy, and build digital innovation hubs.

“But rhetoric must give way to action. Priority should be renewable grids, green jobs and digital skills for youth,” Sani added.

Also speaking, Chinese Embassy Counselor, Dong Hairong, said the GGI was one of four initiatives proposed by President Xi Jinping to advance “a community with a shared future for mankind.”

Dong explained that the five guiding principles of the GGI: sovereign equality, rule of law, multilateralism, people-centred development and real action had already gained wide recognition.

“Nigeria particularly welcomes them as aligned with Africa’s Agenda 2063 and its own national development aspirations,” she said.

She reiterated China’s readiness to work with Nigeria and Africa to reform global institutions, address under-representation of the South, and promote consensus on climate, trade, cyberspace and innovation.

“China is ready to cooperate under the GGI to build a just global order,” Dong said.(NAN)(www.nannews.ng)

Edited by Mark Longyen

UK economy’ll bounce back stronger amid current headwinds — Envoy
Foreign

UK economy’ll bounce back stronger amid current headwinds — Envoy

By Mark Longyen

British High Commissioner to Nigeria, Richard Montgomery, says the country’s economic growth prospects are very bright, in spite of the prevailing global economic headwinds and trade tariff disruptions.

Montgomery said this in an interview with the News Agency of Nigeria (NAN) in Abuja.

According to him, the UK, like many countries across the world, is facing economic headwinds, but the nation’s economy will bounce back stronger as global economic growth is currently lower than it has been in the past.

He explained that international trade regimes were currently going through adjustments due to a number of shocks that have happened in the global economy.

The envoy said the COVID-19 pandemic and the Russian invasion of Ukraine, which caused a spike in energy and food prices, affected many countries, which are still recovering from that.

“I think many countries across the world are facing headwinds, and global economic growth is lower than it has been in the past.

“We also need to rearm because of what’s happening in our backyard, Russia’s invasion of Ukraine, you’ve seen the drone incursions into not just Poland but also Romania.

“So we’re concerned about our security and all of this adds to global headwinds,” he said.

He said there was also a demographic shift going on in economies like the UK, other European and G7 countries, resulting in fiscal challenges necessitating paying for public services for ageing populations.

“What I’d say about the UK is that our prospects are very positive, including compared to competitors, and I’d say that for three reasons.

“The first is that our economic fundamentals are really very strong.

“The second is our government has a reform programme, which is called the change plan, which is going to make the UK economy stronger,” he said.

“Thirdly, I’d say the UK has been particularly successful in the last year and a half in securing new trade agreements ahead of many other countries,” he said.

The High Commissioner listed the UK’s new major trading partners as the U.S., EU, and China, with which it has had economic and financial dialogue, describing it as a constructive positive agreement.

“So, for those three reasons, I’m very optimistic about the UK’s economic growth picking up, and I can go into details about all of those three areas.

“But in particular, I’d say the fundamentals of the UK economy are incredibly strong.

“We’re one of the biggest reservoirs of capital in the world, the City of London is still a premier financial centre,” he said.

Montgomery said the UK has a huge human capital base, noting that in spite of having only two to three per cent of global GDP, its economy has 17 per cent of the world’s top universities.

The British economy, he further said, has a set of reforms that reduce red tape, which is a demonstration of its fiscal prudence that brings down interest rates.

He said the government was focused on economic priorities with potential for growth, such as new industrial and trade strategies, which identify the areas where the economy would grow faster with government help.

“If you look at our relationship with our major trading partners, the EU, China, and the U.S., they’re going in a positive direction.

“Today, if you look at the news, you’d see these massive announcements by U.S. technology companies in the digital infrastructure of the UK.

“Microsoft has just announced 30 billion dollars over the next four years, mainly into artificial intelligence and cloud infrastructure.

“Google has announced seven billion dollars over the next two years for similar investment,” he added.

He said the UK also has big comparative advantages, particularly in new technology, creative industries, financial services, access to capital, and a huge research base, which collectively underscore its growth potential.

The envoy, therefore, expressed confidence that the UK’s economy would be much stronger going forward, adding that its impressive economic fundamentals inspired optimism in its potential for growth. (NAN)

(Edited by Emmanuel Yashim)

Nigeria-UK N16trn current trade value highest ever — High Commissioner
Foreign

Nigeria-UK N16trn current trade value highest ever — High Commissioner

By Mark Longyen

British High Commissioner to Nigeria, Richard Montgomery, says the trade value between Nigeria and Britain, which currently stands at 7.9 billion pounds (16 trillion naira) has hit an unprecedented level.

Montgomery made this known in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

He lauded the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP)which he said boosts trade relations by removing non-tariff trade and investment barriers to foster cooperation in priority sectors.

According to him, the ETIP, which also promotes collaboration with the Developing Countries Trading Scheme (DCTS), would scale the trade value by providing generous trading terms and tariff reductions on Nigerian products.

“So I’m really delighted at our most recent trade figures. The 7.9 billion pounds or 16 trillion Naira trade is the highest that it’s ever been between the UK and Nigeria. And so it’s a very positive trajectory.

“The enhanced Trade and Investment Partnership (ETIP) is exciting because it’s a mutually agreed set of sectors and issues on which the UK and Nigeria government are going to work on.

“It’s happening under the umbrella of our respective ministers, the federal minister of industry, investment and trade, and the UK business and trade minister,” he said.

He added: “The exciting thing about ETIP is, and you’ve used the word leverage, that’s precisely right.

“It identifies through mutual agreement the areas that the UK feels it has a comparative advantage in and the areas that Nigeria wants to create more economic opportunities in.”

Montgomery said the UK was not competitive in all sectors, but has major advantages in various sectors, including the financial services, new technology, financial technology, artificial intelligence and other digital platforms.

The British envoy said that in the creative economy, his country has some advanced manufacturing and advanced energy solutions, which are worth looking at, and credible in the Nigerian context.

He said the UK was doing a lot in higher education investments in the Nigerian education sector, as well as in the agricultural sector to boost Nigeria’s agricultural exports, considering its high potential.

“So, the ETIP identifies these priorities and we have ways of following up in each sector with the businesses and the government agencies on both sides that can unlock more investment and growth.

“The aim is mutual growth, it’s creating jobs in both our countries, and that’s why it’s really important that we realise that ETIP is mutually agreed and negotiated, it’s in both our interests,” he added.(NAN)

Edited by Abiemwense Moru

X
Welcome to NAN
Need help? Choose an option below and let me be your assistant.
Email SubscriptionSite SearchSend Us Email