UK’s £746 Million Investment Signals Global Confidence in Nigeria’s Economy – Dangote

The recent £746 million investment by the United Kingdom, announced during President Bola Tinubu’s state visit to London, signals strong international confidence in Nigeria’s economy, according to Alhaji Aliko Dangote, Chairman of the Dangote Group. Speaking from his Lagos residence on Monday, Dangote emphasized that such investments not only bring funds but also open doors for other countries to invest in Nigeria.

Dangote highlighted the strategic importance of combining diplomacy with economic initiatives. “Today, diplomacy without the economic part of it is not complete,” he said, noting that the investment includes infrastructure improvements in ports and other critical sectors. He described the commitment as a vote of confidence in President Tinubu’s administration and Nigeria’s growing investment potential.

Addressing the volatility of fuel prices linked to the Middle East conflict, Dangote urged calm and prayers for a de-escalation of hostilities. He warned that continued unrest in the region could drive global energy costs higher, affecting industries and households in Nigeria. “Energy affects almost everything,” he said, noting that rising fuel prices could intensify hardships for citizens and businesses.

Beyond foreign investment, Dangote noted that Nigerian investors could also tap into international credit facilities previously underutilized. “It shows that the agency is now open for business for Nigerians,” he explained, highlighting the opportunity for private investors to secure support for infrastructure and industrial projects across the country.

Concluding, Dangote expressed optimism that the UK investment would spark a chain reaction, encouraging other countries like Germany to commit funds to Nigeria. He described the investment as a “win-win situation” that strengthens both Nigeria’s economy and global investor confidence, while calling for sustained efforts to maintain stability in the oil market to protect domestic consumers.

source: newtelegraph