The Nigerian-British Chamber of Commerce has submitted that Nigeria’s GDP growth rate will gradually expand.

Nigeria’s local currency began gaining momentum after the Central Bank of Nigeria (CBN) cleared all valid FX backlogs.

This is believed to be improving the value of the currency.

In its drive to connect businesses while exploring opportunities in the business world and the bilateral economy, the Nigerian-British Chamber of Commerce (NBCC) has inducted 15 new members.

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The induction ceremony, which took place on Thursday, was attended by NBCC members, inductees, and representatives from the public and private sectors.

Also, the chamber emphasised the importance of collaborative efforts for business excellence.

The new members inducted were from Virgin Atlantic, Charter House Lagos, Tangerine Africa, and others, expanding its membership pool, according to a statement.

Sponsors and partners of the event included Zenith Carex, Richardson Oil and Gas, and Greenfort Insurance Brokers Limited.

The CEO of First Ally Capital Limited, Ebenezer Olufowose, highlighted strategies for an insulating portfolio in the market.

Olufowose was represented by the MD of First Ally Asset Management, Olumayowa Ogunwemimo.

According to her, Nigeria’s GDP growth is expected to record a moderate expansion given the historical resilience of the economy.

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Established in 1977, NBCC promotes trade and investment between Nigeria and Britain.

With about 400 members across various sectors, the chamber plays a crucial role in facilitating business connections and growth opportunities.