UKTI Nigeria has offices in Abuja, Lagos and Port Harcourt.  In 2008 alone, we have supported 79 British companies enter the Nigerian market, providing introductions to 313 Nigerian companies.  So far this year, 22 British companies and organisations commissioned UKTI services through our On-line Market Introduction Service.  Four British trade delegations have visited, comprising representatives of over 60 companies.  The number of British companies seeking UKTI's help to do business in Nigeria has doubled year on year since 2005, several of whom have already formed Joint Ventures with local companies and/or established local subsidiaries.  British exports to Nigeria exceed $1 billion for the first time this year and we expect to see that growth rise.  British companies wishing to learn more about UKTI services or how to do business in Nigeria should visit the UKTI website.  Nigerian companies interest in procuring British services, products or technology should send us an email or visit the nearest British High Commission office.

1. Financial services

''The Nigerian Financial Services sector is a star performer in Nigeria's macro-economy. It constitutes approximately 70% of the market capitalisation in one of the fastest growing emerging markets in the world.

A visit from the Lord Mayor of the City of London in May 2008 together with a large accompanying business delegation demonstrated that there are significant opportunities in the market.

Good opportunities are apparent in:

Banking
Islamic banking
Microfinance
Fund management
Insurance
Private equity and venture capital
Pensions
Capital markets
Future IPOs
Commodities and trading services
Debt markets
Legal and accounting services
Financial services education and training
Public private partnership

A new sector report, 'Opportunities for UK companies in the Nigerian financial services industry' is available [etc]''

2. Oil and Gas

Despite the difficulties experienced by the oil and gas industry in Nigeria in 2007, partly because of uncertainty over the general election outcome and not least, concerns over personnel security in the country's Delta region, there have been a number of developments in the last few months that, taken together, indicate there may be a substantial increase in activity both on and offshore over the next 9-24 months.  These include solutions to project financing problems and the launch of the government's gas master plan.   Local Content is high on the agenda, but with shortages in domestic capability, a partnership of British expertise and Nigerian local contact networks can help both access the countless projects on offer.  UKTI Nigeria stand ready to help bring compatible Nigerian and British companies together through introductions, market research and arranging face-to-face meetings through our on-line services.

3.  ICT

From barely 450,000 connected lines in 2002 - most of them fixed, Nigeria now has over 40 million mobile subscribers, the fastest rate of expansion in the world' - The Financial times, June 24 2008

Between 2001 and now, the telecoms market has attracted for Nigeria, foreign direct investment worth over $12billion, yet the market remains largely untapped and therefore, a destination of choice for foreign investors.

Some of the major British operators and service providers have expressed an inerest in the Nigerian market, and a good number have commenced business in Nigeria with the help of the UKTI Nigeria ICT team; who are ready to support UK businesses interested in the market.

A planned sector visit scheduled for October has revealed that there are several opportunities in the ICT/Telecoms sector, these include:

Co-location and co-sharing of infrastructure
Infrastructure companies - (building/ towers and masts co-location)
Sims card accreditation (software and hardware providers)
Number portability - legal/regulatory and practical solutions (software and hardware providers).
Power management systems
Alternative energy for cellular sites/services (solar, wind, etc)
Vehicle tracking systems
Satellite navigations systems
Call logging solutions
Recharge card solutions and other value-added services
ICT/telecoms solutions for telematics and healthcare
Consultancy

4. Power

The Nigerian Power Sector becomes alive with potential investment opportunities and with the release of the Federal Government blue print and financial support towards a 20,000MW national power output by 2020.

Upcoming events in the power and infrastructure sectors will point the way forward for investment opportunities. Consultancy services are already being sought by the Federal Government, Power holding Company of Nigeria (PHCN) and Ministry of Energy for the regulatory framework to promote the National Energy Development Project and rural electrification.

Current opportunities abound in:

Consultancy services in design, construction and renovation of Energy Commission Projects
Development of power substations
Supply of mobile substations

Public Private Partnership

5. Education

Support received from the World Bank towards national and state education projects strategically place the Nigerian education sector in a position for rapid development and greater investment opportunities. The Federal Government allocated 2.4 trillion Naira towards the sector in 2008. Further assistance by The Department for International Development (DFID) towards capacity development for management and planning and reforms, including project implementation support this . World Bank loans and IDA credits received aim towards achieving the millennium Development goals (MDGs) and universal basic education with a focus on creating a credible sector plan for the implementation of the educational goals for the sector.

Opportunities in the sector include development of schools, basic education facilities infrastructure, provision of educational and learning materials, consulting services in educational institutional and ICT development to state ministries of education and local government education authorities. UK Trade and Investment Nigeria recently nominated  and supported Nigerian delegates to the BETT 2008 Education Show in January.