Bob Dewar

Building regional and international trade

Held an interesting breakfast in Lagos with one of Nigeria's main banks, which was a chance to brainstorm on prospects for Nigeria's recovery from current economic difficulties and on how UK and Nigeria can do even more bilateral trade and investment. My pitch was that the UK remains the natural partner for Nigeria because we offer the gateway and contacts to the globalised world and also offer good quality and standards. In the current banking situation in Nigeria and elsewhere, one of the key lessons has been the need for better regulation for example. Transparency is important. So are standards. And so is the need for all countries to work together to rebuild confidence and look outwards, building regional and international trade. It is certainly not the time to be protectionist. Anyway the feeling round the table was that there are some cautious positives about Nigeria including the Central Bank Governor's banking reforms, the current peace in the Nigeria Delta and the increase in the world oil price, which helps the revenue situation.   Our own Trade and Investment office remains very busy indeed, which shows the interest of UK companies. In terms of performance (UKTI reports and revenue raised etc) we're doing better than other UK offices in sub Saharan Africa.  Good stuff.

Posted at 13:16 13 November 2009 by Bob Dewar  |  Comments[0]

The port is Benin's lifeblood

Fascinating to go down the dual highway to Cotonou in Benin. Not nearly so many loaded trucks coming into Nigeria as when I last visited. That's a sign of the impact of the world economic downturn and the credit squeeze in Lagos. The port is Benin's lifeblood. West Africa should be a growing trading region and the challenge is to get the wheels of world commerce moving again.

Infrastructure is getting better in Benin with the new port now privatised and prospect of modernisation of the railway to the north. So it could become a key regional transport hub in time. But the daily reality for many is a small bit of 'informal' trade- a bag of rice in one direction, cheap Nigerian petrol in the other.

Posted at 17:06 17 September 2009 by Bob Dewar  |  Comments[1]

Rain is a blessing

Rain is a blessing. Economists talk of growth of the economy from inward investment and better policy and governance. Quite right. But is a good 'climate' for economic growth more important in the minds of  the poor- and this is still the country with the most poor people in Africa- than rain which grows their food?

So as I wait for a plane to Lagos looking out at the downpour, delay of take-off is a plus not a minus. Let it rain!

Posted at 10:13 26 August 2009 by Bob Dewar  |  Comments[1]

Important issues for the private sector

Held a reception in Lagos to mark the Queen's official Birthday. Well attended by leading opinion formers in this, West Africa's key commercial hub. Focused my speech on important issues for the private sector including international standards (and how British links can help introduce those) transparency, regulation and further progress on economic reform.

Also underlined the need to make a determined push against corruption and crime. There's a movement towards quality here in the banking sector following a predominantly locally influenced correction last year, which reflected the need to introduce full international standards of transparency and regulation.

Posted at 15:02 07 May 2009 by Bob Dewar  |  Comments[0]