Market News

Expert hopeful of economic growth despite challenges - BLOOMBERG

OCTOBER 19, 2021

By Benjamin Alade

19 October 2021   |   3:00 am

An investment and asset manager, Michael Diongoli, has expressed optimism over the dwindling economy of the country, stating Nigerians can collectively grow the economy by supporting small businesses.

Diongoli mentioned this at the official grand opening of UK-Dion Group newly acquired head office building in Lagos.

According to him, the group has subsidiaries to include UK-Dion investment, a microfinance bank, real estate, bureau de change, logistics, entertainment, and factories, and has generated employment for over 400 people.

Diongoli, who doubles as the Group Managing Director, UK-Dion Group, said with the number of staff working with the group, the investment company would continue to create jobs for thousands of Nigerians to grow the ailing economy.

He said the group’s steady growth and expansion necessitated the move to acquire the new corporate office building.

The seven-floor building would accommodate the flagship brands of the group, UK-Dion Investments and Dion Factories, as well as the new ones: UK-Dion Micro Finance Bank; UK-Dion Bureau de Change; Dion Homes; Dion Logistics and the Entertainment arm, House of Dion.

“These subsidiaries were created to diversify UK-Dion Group’s investments while leveraging on viable businesses that would thrive in a post-COVID-19 economy,” he said.

The acquisition of the new corporate head office happened barely two years after UK-DION relocated its head office from Port Harcourt to Lagos. The recently acquired property is four times bigger than the former, an indicator of the tremendous growth that UK-DION investment has achieved in a short time.


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