Mr. Gangadharan Balasubramanian, the Indian High Commissioner to Nigeria, announced that 150 Indian companies have invested $27 billion in Nigeria, mainly in manufacturing, during a dinner in Abuja commemorating India’s 75th Republic Day.
Emphasizing strong economic ties, he revealed that India invited Nigeria as a Guest Country during its G20 presidency and mentioned a $14 billion investment commitment, with $7 billion already signed.
Expressing solidarity, Balasubramanian highlighted India’s commitment to strengthening relations.
Nigerian Minister of Foreign Affairs, Ambassador Yusuf Tuggar, acknowledged shared commitments, citing bilateral associations like the Nigeria-India Joint Commission and trade growth.
Ambassador Alex Kefas noted significant improvement in economic relations, making India Nigeria’s largest trading partner in Africa and vice versa, with a total bilateral trade of approximately $14.95 billion in the formal sector and $5 billion in the informal sector over the last two years.
