Low Energy Designs will install the streetlights as part of its “Light up Lagos” initiative and invest about US$53.3mn.
Lagos, Nigeria’s capital, is Africa’s largest city with about 21mn residents. The streetlights will help tackle pollution and crime in the city and create over 500 local jobs.
The investment was announced at the Commonwealth Heads of Government Meeting (CHOGM) which focussed on boosting intra-Commonwealth trade.
The organization includes 53 countries and is home to 2.3bn customers including fast-growing markets in Asia and Africa.
Nigeria’s minister of industry, trade, and investment, Okechukwu Enelamah opened the London Stock Exchange along with the UK’s trade minister Greg Hands and Pakistan’s minister of commerce, Muhammad Pervaiz Malik.