Nigeria, Ireland Sets To Deepen Bilateral, Economic Ties

Nigeria, Ireland sets to deepen bilateral, economic ties. Mr Chambers revealed that the engagement would foster collaboration and explore investment opportunities.

They said this during Ireland’s Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers’, visit to the Lagos Chamber of Commerce and Industry (LCCI).

The aim of the visit was to strengthen economic and trade relations between Nigeria and Ireland and to foster dialogue on infrastructure development, digital transformation, public-sector reform, and investment opportunities.

Mr Chambers stated that his visit to Nigeria was to deepen bilateral trade and investment relations between the two countries.

Mr Chambers revealed that the engagement would foster collaboration and explore investment opportunities across key sectors of the Nigerian economy.

He identified priority areas of interest to include technology, infrastructure development, agriculture, and healthcare, stressing that Nigeria’s large market and growing economy present significant opportunities for Irish businesses.

According to him, Lagos, as Nigeria’s commercial hub and a key economic centre in West Africa, remains an attractive destination for investment and strategic partnerships.

“The roundtable is designed to bring together key stakeholders to discuss opportunities and challenges in Nigeria’s critical sectors and Ireland’s potential role in supporting development, and ways to enhance bilateral trade and investment,” he said.

Mr Chambers added that his visit, the first to Nigeria, also featured the opening of Ireland’s new embassy building in Abuja.

This, he described as the country’s largest capital investment on the African continent and a demonstration of its commitment to Nigeria and the wider region.

The minister said Ireland, though a small country, had developed globally competitive industry hubs in areas such as technology, finance, infrastructure, and agri-food, which could serve as a foundation for deeper collaboration.

He emphasised that partnerships between Ireland and Nigeria would be mutually beneficial, noting that Ireland also offers access to the European Union market of over 450 million consumers.

“The partnerships we seek are two-way and mutually beneficial, based on shared expertise, local knowledge, and long-term commitment,” he said.

The Governor of Lagos State, Babajide Sanwo-Olu, said the minister’s presence was a clear symbol of the deepening friendship and shared aspirations uniting both nations.

Mr Sanwo-Olu, represented by Bimbola Salu-Hundeyin, the Secretary to the State Government, said his administration was committed to nurturing a friendship grounded in shared values, mutual respect, and purposeful collaboration across several sectors.

They include education, governance, healthcare, infrastructure, technology, and economic development, reflecting a commitment to progress, innovation, and prosperity.

The governor revealed that the current Lagos administration was transforming into a more efficient, responsive, and forward-looking government.

“From landmark transport projects like the Lagos Rail Mass Transit and the Blue Line, to the expansion of our road networks, waterways, and improvements in healthcare services, we are committed to making daily life easier, safer, and more productive for our residents,” he said.

He added that Lagos was modernising governance, strengthening its public service, enhancing accountability, and ensuring citizens can access services seamlessly.

Mr Sanwo-Olu said the state’s digital transformation agenda simplified processes, reduced delays, and built a transparent, citizen-focused system.

“We welcome innovative ideas, partnerships, and opportunities that can improve the lives of our people.

“Lagos is a city of opportunity, collaboration, and shared progress.

“We are particularly delighted by the opportunities to deepen our engagement with Ireland, and we believe there is much we can learn from each other, and even more that we can achieve together,” he said.

The president of LCCI, Leye Kupoluyi, said the Nigeria-Ireland roundtable had gone beyond diplomatic engagement to reflect a convergence of shared economic priorities between the two countries.

Nigeria, Ireland

Mr Kupoluyi said the discussions focused on key areas critical to economic transformation, including infrastructure development, efficient public expenditure, digitalisation, and institutional reforms needed to build resilient economies.

He noted that Nigeria and the United Kingdom had recently signed various agreements, including a £746 million deal to redevelop Lagos ports, the expansion of business visas, and other foreign direct investments.

He added that the visit reinforced a critical point: that the future of economic prosperity is increasingly collaborative.

“Nigeria, as Africa’s largest economy, presents vast opportunities across infrastructure development, digital innovation, agribusiness, and industrialisation.

“Ireland, with its strong track record in public sector reform, technology, and investment facilitation, offers valuable lessons and potential for partnership.

“We trust that this engagement marks not an endpoint but the beginning of a deeper, more structured partnership between our two economies,” he said.

UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa

United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.

The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.

Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.

To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.

“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK

“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa

The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.

This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.

Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.

ABOUT UNITED BANK FOR AFRICA (UK) LIMITED

UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.

UBA

ABOUT UNITED BANK FOR AFRICA GROUP

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

ABOUT BRITISH INTERNATIONAL INVESTMENT

British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.

Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.

The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.

Obi Knocks FG Over Global Terrorism Ranking – “Painful Indictment Of Failed Leadership”

Peter Obi, the 2023 presidential candidate of the Labour Party (LP), has described Nigeria’s latest ranking on the global terrorism index (GTI) as a troubling reflection of poor leadership.

Obi noted that the country remains one of the most terrorised in the world, with a significant rise in terrorism-related deaths.

According to the GTI, Nigeria recorded the highest global increase in terrorism-related deaths in 2025, with fatalities rising by 46 percent from 513 in 2024 to 750.

This places the country fourth on the GTI ranking, behind Pakistan, Burkina Faso and the Republic of Niger.

In a statement shared on X on Thursday, Obi said that while many countries are recording a decline in terrorism, Nigeria appears to be moving in the opposite direction.

“This trend is a direct result of misplaced priorities, weak governance, corruption, a lack of rule of law, and the persistent neglect of security, which is the government’s most fundamental duty,” the former governor of Anambra wrote.

Peter Obi

“From the insurgency of Boko Haram to the growing threat posed by the Islamic State West Africa Province, the crisis of kidnapping, and unchecked violence in our rural communities by heavily armed bandits, Nigerians are dying daily while those in power continue to feast.”

“What is the purpose of government if it cannot protect lives? Why are we normalizing tragedy while other nations make progress?

“This is not the Nigeria we should accept. We cannot continue down this path. It is time to move from excuses to action and from failure to measurable progress.

“A safe and secure Nigeria is not too much to ask; it is the right of every citizen, and it must be delivered.”