Nigeria, African leaders woo UK investors at LSE

Minister hints on leading global talent economy as external reserves rise by $1.22b
Nigeria has reiterated its commitment to attracting foreign investment and deepening economic ties with global financial institutions as the Federal Government joined other African leaders at the London Stock Exchange (LSE) yesterday to promote stronger Africa-United Kingdom (UK) investment relations.

This was as the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the country was well-positioned to become a leading player in the global talent economy.

Her comment came amid the increment of the country’s external reserves by about $1.22 billion in May 2026, reaching $49.58 billion by May 29, according to data from the Central Bank of Nigeria (CBN).

In a statement issued by the Federal Ministry of Finance and through its Head of Information and Public Relations, Efe Ovuakporie, yesterday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, who represented President Bola Tinubu at the official opening of trading at the LSE, noted that the opening ceremony brought together heads of government, finance ministers, policymakers, global investors, chief executives and representatives of major financial institutions from Africa, Europe and other parts of the world.

The Presidents of Ghana and other African leaders also witnessed the event.

According to the statement, the participation of African leaders at the event reflected efforts to position the continent as an attractive destination for investment and long-term economic partnerships.

The ministry added that the event provided an avenue to showcase Africa’s economic potential and ongoing reforms designed to improve the business environment and attract capital inflows.

During engagements at the event, Oyedele reaffirmed Nigeria’s commitment to implementing economic reforms aimed at promoting stability, supporting private-sector growth, and improving investor confidence.

Oduwole, in a statement issued yesterday by the National Coordinator of the National Talent Export Programme (NATEP), Teju Abisoye, to mark one year since the relaunch of the agency, noted that NATEP had intensified efforts to develop the country’s workforce and expand opportunities in the international services market, highlighting a series of policy reforms, institutional developments and strategic partnerships.

According to the minister, the global economy is increasingly being driven by knowledge, skills and talent, creating new opportunities for countries that invest in human capital development.

“We are witnessing a shift in the global economy, where greater value and the competitive advantage will be determined by a nation’s ability to cultivate talent, harness deep knowledge-based industries, and participate in high-value services markets built seamlessly across borders,” she said.

Africa, she added, stands to benefit significantly from this transition and Nigeria is laying the groundwork to emerge as a major contributor to the global talent market.

Originally launched in September 2023 and redesigned in 2025, NATEP seeks to tap into the estimated $1 trillion global outsourcing industry by positioning Nigerian youth as a world-class talent pool for digital and professional services.

Nigeria’s reserves rose from $48.36 billion at the end of April, representing a 2.5 per cent increase within one month.

The increase reflects stronger foreign exchange inflows, ongoing economic reforms, and efforts by the CBN to stabilise the foreign exchange market.

External reserves grew from $48.34 billion on May 4 to $49.58 billion on May 29, 2026.

The reserves crossed the $49 billion mark on May 25 and continued rising.

The latest figure is one of the highest reserve levels recorded in recent years and brings the country close to the $50 billion milestone.