The Nigerian-British Chamber of Commerce (NBCC) has taken Nigeria’s economic reform narrative to London, seeking to reassure British investors that macroeconomic stability is gradually strengthening and that early positioning could yield long-term investment gains.
At its inaugural Economic Outlook UK Forum, organised in partnership with the Institute of Directors Africa Group, the Chamber convened policymakers, financiers and trade stakeholders to evaluate Nigeria’s 2026 prospects under the theme of stability, growth and private-sector expansion.
The engagement comes at a pivotal moment for Africa’s largest economy, which is emerging from one of its most sweeping reform cycles in decades. Key policy shifts—including foreign-exchange liberalisation and the removal of fuel subsidies—have intensified investor scrutiny even as inflationary pressures persist and businesses continue to grapple with rising operational costs.
President of the Chamber, Abimbola Olashore, said the forum was designed to spotlight areas where stability is beginning to take hold while identifying pathways for companies to drive sustainable growth across both economies. He noted that the United Kingdom remains one of Nigeria’s foremost trading partners and a major source of capital inflows, despite fluctuations in bilateral trade driven by currency volatility and global economic headwinds.
Economic analysts at the event projected cautious optimism. Yemi Kale, Group Chief Economist at the African Export–Import Bank, alongside Razia Khan, Chief Economist for Africa and the Middle East at Standard Chartered, pointed to expectations of easing inflationary pressures, improved foreign-exchange liquidity, and a gradual recovery in output, contingent on sustained policy consistency.
Despite progress in reform, investors remain cautious, closely monitoring currency stability and the effectiveness of tight monetary policy in anchoring prices. Nigeria’s inflation rate has remained at multi-decade highs, eroding household purchasing power and complicating business planning.
The forum also reflected a strong UK interest in expanding commercial engagement with Nigeria. Florence Eshalomi, the UK’s Trade Envoy to Nigeria, attended alongside officials from the UK Department for Business and Trade. Robert Lally, the department’s Africa lead for economic security and trade relations, outlined Britain’s evolving trade framework and investment priorities on the continent.
Representatives from the British Chambers of Commerce and FirstBank UK also participated in discussions centred on expanding trade flows, enhancing access to finance and reducing regulatory bottlenecks. Participants emphasised that affordable capital and clear policy signals remain critical for scaling cross-border investment.
Established in 1977, the NBCC has grown to more than 400 members and operates as an affiliate of the British Chambers of Commerce network. By hosting the forum in London, the Chamber is positioning itself as a bridge between reform-driven optimism in Abuja and cautious investment sentiment within the City’s financial markets.
For Nigeria, sustained foreign investment could ease pressure on external reserves, support job creation and strengthen currency stability. For UK businesses, a more predictable Nigerian policy landscape could unlock opportunities in infrastructure, financial services, energy transition, and consumer markets.
Ultimately, analysts note that investor confidence will hinge less on policy messaging and more on measurable outcomes in the coming quarters, particularly inflation trends, exchange-rate stability, and fiscal discipline, as the true indicators of Nigeria’s economic trajectory in 2026.
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