Abuja, Nigeria (CU)_ The federal government and the Republic of India have identified ways to deepen bilateral ties between the two nations in order to advance growth in information and communications technology (ICT) and renewable energy. This was the heart of a renewed commitment by both countries to promote investment.
Mr Emeka Offor, acting executive secretary, Nigerian Investment Promotion Commission (NIPC), indicated on the friendly relationship between the two countries and the importance of improving investment in ICT sector. He also stated that the NIPC is using the strategic cooperation between Nigeria and India to diversify the economy, create more employment, and wealth. He mentioned that NIPC is discussing with India on growing the ICT industry in light of Nigeria’s efforts to diversify its economy and reduce its total reliance on oil.
Mr Emeka Offor explained, “Following the pandemic, ICT was one of the sectors that did very well and we regard them as winners because a lot of things can be done using technology. So that is why we see a lot of traction in areas like ICT, e-commerce, health- tech, amongst others. We are leveraging on the relationship we have with India to attract as much tractions to Nigeria’s ICT space from India”.
According to Mr Velagaleti Surendra, India’s Acting High Commissioner to Nigeria, Nigeria is India’s major partner in Africa and that India is prepared to assist Nigeria in strengthening its economy. Surendra noted that in addition to ICT, India is expanding its investments in renewable energy sector and investigating new areas for investment diversification in Nigeria.
Surendra clarified, “One potential area we see is in renewable energy because there is a lot of interest in Nigeria in solar energy, setting up of solar plants and even in the agricultural sector. We see that renewable energy is a major growth opportunity for both countries and of course in areas of health, setting up of hospitals, in education, setting up for institutes of educations, learning centers. So the opportunities are endless and we hope to see much collaboration between both countries”. He added, Nigeria is the largest trading partner of India in the African Region, Nigeria is one of the most important energy partners for us, and Indian investments are strong in Nigeria. We have more than 135 companies in various sectors, Pharmaceuticals, power, vehicles and lots more. We see that there are potentials for more collaboration between the two countries because Indian industries are here to be part of your growth story.”
