Nigeria135 Indian Companies Invested $19 billion In Nigeria

135 Indian Companies Invested $19 billion In Nigeria

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Abuja, Nigeria – The Indian High Commissioner to Nigeria, Shri Balasubramanian, says over 135 Indian companies have invested $19 billion in Nigeria in the last four decades of diplomatic relations between the two countries.

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Mr Balasubramanian, who said this when he paid a courtesy visit to the News Agency of Nigeria (NAN) on Wednesday in Abuja, commended the India-Nigeria mutual bilateral relations.

He said the relationship between India and Nigeria had been excellent, saying the visit was to deepen news and cultural programme exchanges between both countries.

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According to him, the visit seeks to promote avenues whereby India and Nigeria could cooperate through information sharing, and news networks, among other things.

“The cultural relations, the connection between our people is really good, and with your assistance, I will certainly like to strengthen this tie. There are over 135 Indian companies which have invested about $19 billion in Nigeria over a period of years, not in one year, but for the past four decades,” the Indian ambassador explained.

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Mr Balasubramanian added, “Most of them are in Lagos, they are in every part of Nigeria and are in the manufacturing sector of the economy, steel, oil and gas or pharmaceuticals. Three 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.”

The Indian high commissioner noted that Nigeria “is home to about 60,000 Indians living and who have made Nigeria their home literally, for the past four decades.”

Mr Balasubramanian revealed 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. (NAN)

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