Indian Minister of State for External Affairs Shri Vellamvelly Muraleedharan has disclosed that Indian investments in Nigeria amount to $20 billion.
Muraleedharan who spoke during the inaugural Session of the Nigeria-India Business Council (NIBC); in Abuja, also said Nigeria has always been a favourite investment destination for Indian businesses.
Muraleedharan further said the multi-sectoral, high-level business delegation from India; is ready to collaborate in different sectors in the country.
“I am aware that there are around 135 Indian companies in Nigeria estimated to have invested over US$ 20 billion. It is a matter of pride that companies owned by Indians are the second largest providers of employment in Nigeria.
The large and growing population of Nigeria, its talented youth, the abundance of natural resources; a democratic and business-friendly Government and very strong cultural bonds between our peoples have all fuelled the rising economic engagement between both countries. But there is still great potential to enhance our economic cooperation and, with the pandemic behind us, both countries must look to vigorously make up for opportunities lost during the last two years,” Muraleedharan said.
The Indian Foreign Minister said Nigeria has been India’s largest trading partner in Africa; and a very valuable energy partner.