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AFRICAN ECHO BUSINESS NEWS
Complied by Cass Gilroy-Business Editor

Britain to invest over £100 million in Nigerian economy

Prince Charles has said that the United Kingdom is to increase its investments in Nigeria to the tune of £100 million or about N24 billion in the next two years. Charles, who was recently on a tour of Nigeria, said during his visit that Britain intends to increase its development assistance to northern Nigeria.

He disclosed that through the Department for International Development (DFID), Britain has been supporting development in Nigeria since 1997, adding that with the restoration of democracy the support would increase substantially from a modest twenty million pounds in 2001.

In order to develop and manage the increased support to the North, DFID has opened an office in Kano as a clear demonstration of Britainís long-term commitment to Nigeria. The new office will work closely with state governments and other stakeholders to develop and implement poverty reduction programmes.

 

 

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