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The bilateral trade volumes between Nigeria and India has risen to $14.95 billion in the formal sector, and around $5 billion in the informal sector in the last two years.
India’s High Commissioner to Nigeria, Ambassador Shri Balasubramanian, says the country has appetites to invest more in the Nigerian economy.
" Nigeria currently hosts about 150 Indian enterprises, with a total investment of $27 billion, largely in the manufacturing sector," he said during the Nigeria currently hosts about 150 Indian enterprises, with a total investment of $27 billion, largely in the manufacturing sector." on Monday, in Abuja.
The envoy also said that the bilateral trade volumes between Nigeria and India has risen to $14.95 billion in the formal sector, and around $5 billion in the informal sector in the last two years.
He said, “Over the past few years, Nigeria and India have continuously had constructive engagements. The first joint meeting held in India in December 2019. This enabled both countries to review the economic ties on Trade and Investment, which eventually shored up increased volume of trade and more robust bilateral relations between the two countries.”
Similarly, the lead negotiator of the Indian delegation, Amardeep Singh Bhatia, of India’s Ministry of Commerce and Industry, added that Indians are eager to invest more in Nigeria.
“We are here to explore bilateral relations between the two countries to stimulate trade and investment, especially in the non-oil sectors of pharmaceuticals, agriculture, and mining.
“India and Nigeria have strong and historical relations. Our bilateral connections, which date back before Nigeria’s independence, have been nurtured by both countries’ leaders,” he noted.
