Wednesday , June 12 2024
Nigeria Home Over 60,000 Indians as Companies Invest $19 Billion in Nigeria

Nigeria Home Over 60,000 Indians as Companies Invest $19 Billion in Nigeria

The Indian High Commissioner to Nigeria, Shri Balasubramanian, has disclosed that over 135 Indian companies have so far invested $19bn in Nigeria in the last four decades of diplomatic relations between the two countries.

The News Agency of Nigeria reports that Balasubramanian, who disclosed during a courtesy visit to the agency, expressed his thrill at the India-Nigeria mutual bilateral relations.

The high commissioner noted that India and Nigeria have enjoyed a healthy relationship, and his visit was geared towards consolidating these ties and deepening news and cultural programme exchanges between both countries.

“There are over 135 Indian companies, which have invested about $19bn in Nigeria over a period of years, not in one year, but for the past four decades.

“Most of them are in Lagos. They are in every part of Nigeria and have invested in the manufacturing sector of the economy, steel, oil and gas or pharmaceuticals.

“$3 billion dollars of that is in pharmaceuticals manufactured in Nigeria by Indian companies. There is a strong relationship we have in pharmaceuticals and other business activities.”

According to him, the country is home to about 60,000 Indians who are living and who have made Nigeria their home for the past four decades.

The envoy also promised to strengthen the relationship between his country and Nigeria, with the assistance of NAN management.

He said that Nigeria’s invitation as a guest participant to the G20 Summit scheduled for 2023 in India would form a unique opportunity to showcase the priority of developing countries to the world.

He said that the importance of the relations between the two countries was well known in India, hence Nigeria’s invitation to the summit from September 9-10 in New Delhi.

The envoy listed plans by the mission to host journalists from across West Africa on field visits to India with a renewed offer of 500 scholarships to Nigerians and promote the study of Mass Communication in India in 2023.

He further reeled out the mission’s programmes to be India National Day on January 26, the Food Festival and Cooking Competition on January 28,  and the facilitation of “Yoga” weekly exercise to boost healthy living

About Bukola Olanrewaju

Check Also

Fitch Upgrades Fidelity Bank’s Rating to ‘Positive’

Fitch Upgrades Fidelity Bank’s Rating to ‘Positive’

Fitch Ratings has revised the outlook on Fidelity Bank PLC’s LongTerm Issuer Default Rating (IDR) …

Leave a Reply

Your email address will not be published. Required fields are marked *