Nigeria’s economy is set to receive a major boost with the commitment of the Indian government to invest US$5 billion in Nigeria’s economy – a move that had been welcomed by Nigeria’s President, Muhammadu Buhari.
The proposed investment was announced by the business delegation that accompanied the Vice President of India to Nigeria. Nigeria’s president disclosed that India has already invested $10 billion in the Nigerian economy.
In a statement signed by senior special assistant on media, Garba Shehu, President Buhari said Nigeria will continue to expand its relationship with India in the areas of health, education, agriculture, technology and trade.
Receiving the Indian Vice President, Mohammad Hamid Ansari, at the State House, 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. The president said Nigeria would emulate India’s agricultural model and capacity to feed its one billion population, and also export to other countries, describing the country as “sustainable and prosperous’’.
Responding, the Vice President of India remarked that his country is the leading buyer of Nigeria’s crude oil and will increase its purchase of the commodity in addition to natural gas.
“The relationship between Nigeria and India is near perfect as both countries have nothing to quarrel about,” he said.
