Bob Dewar

The rainy season has started

Back in the swing of things in Abuja after the FCO’s Leadership Conference in London and Easter.  The rainy season has started – huge storm in Abuja at the end of the week.  The meetings in London were very useful including with the Nigerian community who were predictably mostly interested in visa issues.  Also had a good meeting with West African Business Association (WABA) members.  International economic crisis is having an impact on Nigeria but there are still important opportunities and our Trade and Investment office are very active. 

Good to see that the England and Wales Law Association sent a trade delegation, (for the second year running) last week.  The way the legal system is intertwined with that of the UK is symbolic of the close relations in many special areas.  My own belief is that one of the best things we can do as British Government is to help Nigeria adopt international standards.  In fact the impact crisis on the Nigerian private sector has to some extent encouraged a move towards quality, including in the banking sector.  As customers get more choosy so it must be win-win for UK companies to offer highest international standards and corporate governance as part of the package.

Posted at 09:45 22 April 2009 by Bob Dewar  |  Comments[0]

Business is booming

Down in Lagos again, the commercial capital of West Africa, that great sprawling city full of life and enterprise. This time for the visit of Andrew Cahn, Chief Executive of UK Trade and Investment. He coincided with a large mission from the London Chamber of Commerce.

Business is booming and there are opportunities for companies in many sectors if they keep their eyes wide open, find the right partners and ensure integrity. And it's not just in the oil and gas and financial services sectors. It was great to see a Yorkshire company providing street lighting! There are some new areas of opportunity including education, construction, infrastructure and agriculture.

Our young UKTI team are doing a great job. They are busy. There's a Nigerian saying 'grass does not grow on a busy road.' Loved their new offices with photos of artists and sports icons. By the way the Premier League here is a huge British brand, helped by the number of Nigerians and West Africans playing in it. Everyone is passionate about their teams. My driver supports Liverpool. Manchester United and Portsmouth played a friendly in Abuja this summer.

The boom in financial services in Nigeria has slightly been set back by a 'correction' in the local stock exchange in recent months- and the world situation now means many are reviewing their positions. But more Nigerian banks want to list in London. The theme is very much that London can provide the gateway for Nigeria to the globalised world. We've got the connections to the international standards and professional practice. Good performance on corporate governance would help change some perceptions abroad.

Since arriving in Nigeria I have been struck by the emerging middle class, plus a new generation of young Nigerians with world class professional skills, some of whom are returning. A great trend for the future. But there is a challenge in re-building the quality of local educational institutions - and providing skills below University level, to help youngsters get jobs.

Posted at 14:56 22 September 2008 by Bob Dewar  |  Comments[1]