The scramble for Africa is gathering momentum. Under the guise of helping the Third World and develop African countries, the developed world – from China, Japan, Russia, Saudi Arabia, and France – are inviting former colonies and others to ‘re-colonise’ them using the baits of aids, loan incentives, religion, and advise on how to navigate the intricate international economy, to corner them for selfish motives.
Two weeks ago, France allegedly prodded her former colonies in West Africa to embrace Eco, the planned West Africa single currency. France last week met these former colonies.
This time, it is the United Kingdom (UK), Nigeria’s former colonial masters, that is meeting its African ‘friends’ to put its foot in the door to draw benefits for herself.
In fact, President Muhammadu Buhari departs Abuja this Friday for London to participate in the inaugural UK-Africa Investment Summit holding on Monday, January 20, 2020.
Hosted by the British Prime Minister, Boris Johnson, the event, according to the organisers, is expected to bring together African leaders, international business chief executives and heads of international organisations “to create new partnerships that will deliver more investments and jobs” to the benefit of people and businesses in African countries and the United Kingdom.
Apart from highlighting new perspectives on UK-Africa Partnership for Prosperity, issues of Sustainable Finance and Infrastructure; Trade and Investment; Future African Growth Sectors and Clean Energy and Climate, are expected to dominate presentations and discussions during the Summit.
With the expected take-off of the African Continental Free Trade Area (AfCFTA) in mid-2020, the London investment summit will provide Nigeria with the opportunity to project itself as a leading investment destination for new industries.
In addition, the summit will deepen Nigeria-United Kingdom investment ties post-Brexit given that Africa currently represents just two per cent of British trade activity, with Nigeria accounting for only 10 per cent of that total.
The Nigerian delegation to the investment meeting will further showcase what the Federal Government has done through policies and legislations to improve the investment and business climate in the country.
While in the United Kingdom, President Buhari will hold a meeting with the Head of the Commonwealth, Prince Charles in Glasgow, Scotland.
The President and his delegation will also have bilateral meetings with Prime Minister Johnson as well as heads of multilateral organisations.
President Buhari will be accompanied to the Summit by Governors Yahaya Bello, Muhammad Inuwa Yahaya and Okezie Ikpeazu of Kogi, Gombe and Abia States respectively.
Also on the presidential entourage are the Minister of Foreign Affairs, Geoffrey Onyeama; Minister of Industry, Trade and Investment, Otunba Niyi Adebayo; the Minister of Finance, Budget and National Planning, Zainab Ahmed; the National Security Adviser (NSA), Maj-Gen. Babagana Monguno (retd); and the Director General, National Intelligence Agency (NIA), Ambassador Ahmed Rufai Abubakar .
President Buhari is expected back in Abuja next Thursday.