In order to drive economic growth, the Commonwealth Enterprise and Investment
Council (CWEIC) has emphasized the need for policies and practices that support the
ease of doing business in Nigeria and other Commonwealth nations.
Chief Executive Officer (CEO), of CWEIC, Rosie Glazebrook, stated that the GDP of the
Commonwealth is currently $14.5 trillion and is projected to expand to $19.5 trillion by 2027.
The CEO of the council made an investment in removing trade barriers that impede Nigeria’s
ease of commerce. Speaking at a press conference in Lagos regarding the Commonwealth Trade and business
Summit, which is scheduled to take place in London on November 27 and 28, she remarked
that interest in Nigeria’s business climate is high, particularly in light of the recently held
general elections that have restored stability.
In order to expedite business relations and growth, she advised Nigerian businesses to take
advantage of the summit as well as the Commonwealth Trade and Investment Forum, which
would be held in October 2024 in Samoa prior to the Commonwealth Heads of State
Summit. She stated that even though Nigeria came in second place to the UK in terms of strategic
partnership rating, CWEIC works to promote trade and investment by offering assistance to
companies.
In her explanation of the necessity for closer commercial ties, she emphasized that trading
within the Commonwealth is 21% less expensive. “Trading within the Commonwealth is typically 21% less expensive. For this reason, we support the removal of trade barriers to facilitate trade with Nigeria. We aim to take advantage of the Commonwealth’s sizable population and business potential,” she stated.
According to Glazebrook, the organization works to maintain partnerships in order to assist
companies and create connections with other industries.
“We are expanding our collaboration and exploring methods to aid companies in commerce
and investments, while establishing connections with companies in a variety of industries,
including technology, financial services, oil and gas, and healthcare,” the spokesperson
stated.
