For there to be a strong foreign investment that will create jobs, wealth and develop the investment landscape in Nigeria there must be a deep relationship that will drive better business opportunities and growth
The Acting Executive Secretary, Chief Executive Officer of the Nigerian Investment Promotion Commission, NIPC, Emeka R. Offor, made this assertion at the seventy third Republic celebration of India by the India High Commission in in Abuja.
Mr. Offor, disclosed that India is one of the twenty countries identified by the Commission as strategic to Nigeria’s economic growth owing to the similarities shared by both countries which according to him, is one of the reasons NIPC intends to and have been partnering with them.
He said the Commission went through a deligent process to identify the twenty countries especially India so they can begin to deepen relationship with them for the purpose of developing an investment promotion arrangement that can attract investors from India to Nigeria and also assist Nigerians who want to invest in India to do so.
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According to him, the recently launched development plan for Nigeria shows that about three hundred and forty eight trillion naira is required for the purpose of advancing Nigeria’s economic development and about eighty percent of that investment is expected to come from the private sector.
He described ICT as one of the sectors that remained alive during the pandemic hence they are regarded as winners because a lot of things can be done using technology to move away from the challenges posed by infrastructure and has led to his according tractions in areas such as ICT, e-commerce, health-tech, agri-tech among others.
The Acting Executive Secretary, revealed that they intend to hold sector specific events in those areas to highlight Nigeria investors to look at opportunities in those areas and we are leveraging in this relationship we have with India to attract as many attraction as possible to Nigeria’s ICT space from India.
Earlier, the Acting High Commissioner of India to Nigeria, Velagaleti Surrendra, who had delivered the message of the president of India to the people, described Nigeria as the largest trading partner for his country in the African region hence a great energy partner for India
According to him, investment is strong in Nigeria and India has various companies in all sectors adding that there is potential for more collaboration between the two countries because the Indian companies are in Nigeria. to be a part of her growth and success story.
He claimed that Indians are the largest employers of labour in Nigeria after the federal government saying that their investors will want to remain in the country to help support the Nigerian economy especially as they are looking to deepen collaboration on renewable energy which will be great opportunity for both countries since solar is in high demands now.
The seventy third Republic day celebration which had in attendance, members of the India community, and representatives of top government functionaries and organisations including the Minister of foreign Affairs, Geoffrey Onyeama, represented by a Director in the ministry, Ambassador Yahaya Faruk commenced with the unfurling of India’s national flag and singing of the National Anthem.