Abuja: Minister Express Desire for Indian Investments in the FCT … As he Receives Indian High Commissioner to Nigeria

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Abuja.

 

Minister of the Federal Capital Territory (FCT), Barrister Ezenwo Nyesom Wike has expressed the desire for an expanded trade partnership between India and Nigeria to encourage more Indian business people to invest in the FCT.

The FCT Minister made this known when he received the Indian High Commissioner to Nigeria, Shri G. Balasubramanian, who paid him a courtesy visit in his office in Abuja on Tuesday, March 26, 2024.

Wike acknowledged the cordial relationship between India and Nigeria and the huge Indian business presence in Nigeria and said he would also like to see an increase in Indian investments in the FCT.
He assured that the FCT has adequate security and the necessary infrastructure for businesses to thrive in the nation’s capital.

According to the Minister, “I do know that India has a huge presence in Nigeria, in terms of companies, particularly Indorama (Eleme Petrochemicals Ltd), when I was Governor. That’s one of the biggest petrochemicals in West Africa, and then in terms of fertilizer. It’s quite a huge investment and we would also like to have that kind of relationship with you in Abuja”.

The Minister also acknowledged the efforts of President Bola Ahmed Tinubu to improve bilateral relations between India and Nigeria and pledged that the FCT Administration will also continue to ensure that the environment is conducive for foreign missions in the FCT to conduct their affairs.

He said, “We are here to see that whatever you require within our purview, we will not hesitate to do that for you”.

Speaking earlier, the Indian Ambassador to Nigeria, G. Balasubramanian also acknowledged the excellent and longstanding diplomatic and trade relations between India and Nigeria.

He said India started its diplomatic relations with Nigeria two years before Nigeria’s independence in 1958 when it established a diplomatic office in Lagos, adding that India also has more than 155 companies operating in Nigeria with investments worth billions of dollars.

According to him, “There are more than 155 Indian companies in Nigeria with more than 27 billion dollars of investments in various manufacturing areas, from plastics to steel, to oil, to pharmaceuticals, almost in every sector. Indian companies are the second largest employers after the Nigerian government.

“That is the level of engagement that we have and we have a wonderful relationship between our two countries in terms of political relationship. His Excellency President Tinubu has been to India as part of the G20 invitation that was extended by India and attended the G20 Summit in September last year.

“Agriculturally also, we have excellent cooperation. We have been having various groups from Nigeria going to India to participate in different areas of exhibitions and in cultural activities”.

The Indian Envoy also thanked the FCT Minister for ensuring that the environment is conducive for the embassy to conduct its affairs in the FCT.

Present at the vent were the FCTA General Counsel Barrister Salman Dako, Secretary, Economic Planning, Revenue Generation and PPP, Arch. Ubokutom Nyah and SSA on Legal and Multilateral Cooperation, Barrister Benedict Daudu.

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