Follow Us on Google
By Chinenye Anuforo
The British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, has said that science, technology and innovation must be deliberately positioned at the centre of Nigeria’s economic growth agenda, as the United Kingdom deepens its modern strategic partnership with Nigeria.
Baxter spoke in Abuja during the Science and Technology Media Training for Journalists, organised by the UK Government, where he outlined how stronger collaboration in innovation, research and investment could unlock sustainable growth, job creation and global competitiveness for both countries.
He described the UK–Nigeria Strategic Partnership signed in 2024 as a decisive shift from historic ties to a forward-looking partnership of equals, anchored on economic prosperity and innovation.
“Science and technology are central to our daily lives, our businesses and our prosperity. In the UK, we place them deliberately at the heart of our economy to drive innovation, create jobs and ensure ideas move into the real economy,” Baxter said.
According to him, the UK’s engagement with Nigeria spans the entire innovation and investment pipeline from early-stage grants and technical support for startups, through concessional financing via British International Investment (BII), to fully commercial investments.
He explained that the objective is to help Nigerian businesses move from ideas and research into profitable, scalable enterprises capable of competing globally.
Baxter cited examples of companies that initially received small grants, later accessed concessional loans, and have since grown into large businesses expanding across Africa.
“The end goal is companies that make money, provide services people want, create jobs and pull the wider economy forward,” he said.
He highlighted Moniepoint as a notable success story, explaining that the company evolved from a technology concept into a fully commercial financial services firm and later established its global headquarters in the UK.
According to him, UK regulation and access to deep capital markets made global expansion easier for the company.
“Being regulated in the UK opens doors internationally. It allows companies to raise large-scale capital and operate across multiple markets,” Baxter noted.
Other News
Baxter also spoke on the importance of linking academic research to commercial outcomes, announcing recent activities under the West Africa Research and Innovation Hub, aimed at helping universities and researchers translate ideas into market-ready solutions.
He acknowledged that even the UK historically struggled with commercialising research but said sustained reforms over the past decade had begun to close that gap.
“Having brilliant research is not enough. You need systems that help move it from universities into the real economy,” he said.
Beyond foreign investment, the Deputy High Commissioner stressed that Nigeria already has substantial domestic capital, particularly within pension funds, that remains underutilised in local businesses.
He said the UK is working with Nigerian institutions and regulators, drawing on UK pension system experience, to explore ways of responsibly unlocking long-term capital for Nigerian companies.
“This is not just about bringing British money into Nigeria. There is Nigerian capital here, and we want to understand why it is not flowing into Nigerian businesses and how that can change,” he explained.
Baxter described the Enhanced Trade and Investment Partnership (ETIP) between both countries as a critical framework for removing trade barriers, improving market access and strengthening private-sector collaboration.
Nigeria, he noted, is only the second country globally, after India, to enter such a structured partnership with the UK.
He added that trade goes beyond exports to include two-way direct investment, pointing out that Nigerian investors are increasingly investing in the UK for regulatory certainty, learning opportunities and global exposure.
Addressing journalists, Baxter emphasised the media’s role in explaining complex policy and economic issues to the public, noting that informed reporting strengthens accountability and democratic participation.
“One of the biggest challenges is explaining complicated processes clearly. Journalists play a critical role in helping citizens understand, question and engage with these policies,” he said.
