Uzoka-Anite Reveals That Indian Investors Plan to Invest $14 Billion Into Nigeria

The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, recently revealed that Indian investors are prepared to invest $14 billion into the Nigerian economy.

She made this known in her statement on Wednesday after she acknowledged the efforts of both countries in the sixth section session of the Nigeria-India Joint Commission meeting.

The Minister stated that Nigeria currently accommodates over 150 Indian companies, many of which have become popularly known.

She named some of the famous companies in Nigeria: Bharti Airtel, Tata, Stallion Motors, Churchgate and Indorama.

However, the Federal Governments of Nigeria and India are working on strategies to strengthen bilateral relations, especially on economic development and attracting more investments in the blue economy.

Olujimi Oyetomi, the Director of Press and Public Relations at the Ministry of Marine and Blue Economy, disclosed this in a statement on Wednesday.

This was during the India Trade Mission to Nigeria/Nigeria-India Business Forum, Nigeria-India Business Council, with the theme 'Expanding Trade & Investment Opportunities Between Nigeria and India' held in Abuja. The Minister of the Ministry of Marine and Blue Economy, Adegboyega Oyetola, expressed his hope that the potential collaboration between the two countries will be fruitful.

He said,

• I am happy that this forum has brought Nigeria and India together to collaborate and strategically plan on exploring investment opportunities in both countries.

• This forum will further strengthen the bilateral ties between the two countries, thereby increasing foreign direct investment, facilitating capacity/technology transfer and fostering sustainable business partnerships between both countries' governments and private sectors.

Oyetola said that this is the perfect time for the business forum to partner, as there is no ideal time due to the Federal Government's focus on boosting the potential of the blue economy through public-private partnerships.

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