UK Targets £9 Billion Investment for Nigeria and Africa

The United Kingdom is targeting £9 billion in fresh capital inflow for Nigeria and other African frontier markets as part of a new five-year investment strategy led by British International Investment (BII). This plan, disclosed in a statement seen by Nairametrics, outlines a shift towards mobilizing private capital to support economic growth across underserved markets.

BII's strategy aims to contribute nearly £5 billion, with expectations to raise additional funds from private investors across Africa. UK Minister for Development, Jenni Chapman, noted that this approach marks a shift from traditional aid to long-term partnerships.

The strategy combines investment tools with research and diplomacy to help businesses grow and create jobs. Chijiutomi, Managing Director and Head of Africa at BII, emphasized the focus on frontier markets and the need to navigate complex market conditions.

The initiative comes amid growing UK-Nigeria economic engagement following a recent high-level meeting and trade deal signed during President Bola Tinubu's state visit.