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India Business Community Injects $15bn Into Nigerian Economy

President Muhammadu Buhari has welcomed the proposed investment of $5 billion in the economy by Indian business community.

Nigeria President Buhari and Indian Vice President, Mohammad Hamid Ansari
President Buhari and Indian Vice President, Mohammad Hamid Ansari
Already, India had invested $10 billion in the economy. 

President Buhari also said Nigeria would continue to expand its relationship with India in the areas of health, education, agriculture, technology and trade. 

The President spoke while receiving the Indian Vice President, Mohammad Hamid Ansari, who visited the State House, Abuja, yesterday with a business delegation from his country. 

President Buhari said Nigeria had over the years, benefited from the cooperation of the Asian country in trade and investment, agriculture, technology and the fight against terrorism. 

He said Nigeria would emulate the Asian country’s agricultural model and capacity to feed its one billion population, and also export to other countries, describing the country as “sustainable and prosperous.” 

The President noted that Nigeria would continue to support the reform of the United Nations Security Council, pointing out that it was unfair on the rest of the world for five countries to exercise power of “yes or no” in the UN. 

In his remarks, the Indian Vice President said his country, which is the leading buyer of Nigeria’s crude oil, will increase its purchase of the commodity in addition to natural gas.

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