May says Lagos can explore UK’s £750 million credit for development

British Prime Minister, Theresa May, said yesterday that the Lagos State Government can explore the export credit finance to the tune of £750 million (pounds) which the UK government has in place for considerable development finance.

May disclosed this at a meeting with the Lagos State Governor, Mr Akinwunmi Ambode in Lagos on Wednesday.

Saying she was happy to be in Nigeria and Lagos in particular, May affirmed the important role that a stable government in Lagos plays in giving extra confidence to investors in the state.

She said, “I have had a fantastic visit to Nigeria and we have outstanding relationship between UK and Nigeria but there is much more that we can do in the future. I enjoyed being able to come to Abuja and also to Lagos to see the thriving business community here.

“We want to see increased trade between Nigeria and UK; increased investment; bringing jobs here to Nigeria, jobs in the UK being good for both countries and I have had an excellent time here and I am very pleased to being able to be here and thank you Governor (Ambode).”

In his own remark, Governor Ambode said Lagos remained a place of choice for British investors given the stability in the government, the size of Lagos economy and population.

“We just had a sort of bilateral discussion with the Prime Minister of Britain and just like what you are already aware of, she had actually visited Abuja earlier in the day to see Mr President but again the important part of this visit to us more or less is to discuss about how investment in Lagos can be improved upon by British investors and you would realize the fact that Lagos is the commercial capital of Nigeria and a whole lot of British investments are actually domiciled in Lagos,” he said.