UK Investors Eye Africa’s Wealth: What This Means for Nigerians 

Minister of Industry, Trade and Investment, ⁣ Dr Jumoke Oduwole

A new report shows that more UK companies are now investing in Africa, especially in Nigeria, as they see the continent as a major growth destination. The shift is driven by Africa’s youthful population, large consumer market, mineral resources, and ongoing economic reforms. About 50% of UK companies earning over £20 million annually are already doing business in Africa, and 28% more are interested in coming in. 

Where the Investments Are Going 

Sectors attracting the most interest include: 

    Technology & Digital Services 

    Oil & Gas 

    Renewable Power 

    Agriculture & Manufacturing 

    Strategic Minerals (e.g., lithium, cobalt) 

    Infrastructure & Transport 

With Africa home to 30% of global mineral reserves and expected to have 25% of the world’s workforce by 2035, the continent is now seen as more than a source of raw materials—it’s a rising economic power. 

How Nigerians Can Benefit 

 Entrepreneurs should align their businesses with sectors UK investors are targeting, such as tech, agriculture, and clean energy. 

 Youth can learn digital skills, as jobs in fintech, logistics, and tech are in high demand. 

 Policy Makers need to remove regulatory barriers and support Public-Private Partnerships (PPP) to attract more funding. 

 Local Professionals (engineers, lawyers, business developers) can position themselves to manage and structure investment deals. 

    “PPP is not just an option; it’s a necessary strategy,” said Babatunji Adegoke of the Nigerian Society of Engineers, stressing the need for Nigeria to embrace infrastructure partnerships to attract foreign capital. 

“Africa is no longer just a source of raw materials—it is now a strategic hub of innovation, talent, and opportunity. Those who invest wisely today are investing in the future of global growth.” – Muibat Ijaiya, Partner at Strategy Management Partners 

Challenges to Overcome 

Despite interest, issues such as unclear policies, unstable currency, and infrastructure gaps still worry investors. Fixing these will help turn potential into profit and secure long-term jobs and development.  

Africa is in focus, and Nigeria stands to gain if the right steps are taken. As UK investors double down on the continent’s promise, Nigerians must prepare to tap into this wave through skill development, business readiness, and stronger governance.