The Prime Minister of the United Kingdom, Theresa May on her recent visit to Cape Town, South Africa stated that Africa is home to a majority of the world’s most fragile states, and a quarter of the world’s displaced people, and also Nigeria is the home of the highest number of poor people in the world. Recent records show that Africa has the highest number of poor people in the world, with 87 million Nigerians living below the poverty line of $1 and 90 cents per day. In the words of the UK Prime Minister  “Much of Nigeria is thriving, with many individuals enjoying the fruits of a resurgent economy, yet 87 million Nigerians live below $1 and 90 cents a day, making it home to more very poor people than any other nation in the world.”

The Prime Minister mentioned that achieving the inclusive growth is a challenge across the world and Africa will need to create 50,000 new jobs per day to keep employment rate at its current levels till 2035. However, the UK plans to become the biggest G-7 investor in Africa by 2022, building around shared prosperity and shared security, leading to a healthy African economy which will also be beneficial for the UK.

The UK has one of the biggest overseas aid programmes in the world, with $18 billion spent on aid overseas in 2017 alone.

 

Olatorera Consultancy Limited provides business development services to high net-worth individuals and companies looking to grow, enter or do business in Africa. Olatorera Consultancy Limited is headquartered in Oniru Royal Estate, Lagos, Nigeria.