Indian High Commissioner to Nigeria, Shri Balasubramanian
135 Indian companies invest $19bn in Nigeria – High Commissioner
Over 135 Indian companies have so far invested the sum of $19bn in Nigeria within the last four decades, according to the country’s High Commissioner to Nigeria, Shri Balasubramanian.
Balasubramanian, who disclosed this in Abuja, said the investment by Indian firms was driven by diplomatic relations between the two countries, as he argued that ‘India-Nigeria mutual bilateral relations have grown stronger over the years.’
The high commissioner noted that India and Nigeria have enjoyed a healthy relationship, and his visit was geared towards consolidating these ties and deepening news and cultural programme exchanges between both countries.
“There are over 135 Indian companies, which have invested about $19bn in Nigeria over a period of years, not in one year, but for the past four decades.
“Most of them are in Lagos. They are in every part of Nigeria and are in the manufacturing sector of the economy, steel, oil and gas or pharmaceuticals.
“$3 billion dollars of that is in pharmaceuticals manufactured in Nigeria by Indian companies. There is a strong relationship we have in pharmaceuticals and other business activities.”
According to him, the country is home to about 60, 000 Indians who are living and who have made Nigeria their home for the past four decades.
