Nigeria, India partner to expand trade, investment

Nigeria, India partner to expand trade, investment

Nigeria and India have inaugurated the Nigeria-India Business Council (NIBC) to serve as a fulcrum for the expansion of trade and investment between the two countries in new areas such as fintech, artificial intelligence, renewable energy, and technology among others.

Vice President Yemi Osinbajo, who inaugurated the platform in Abuja on Tuesday, said that the NIBC will bring about a mutually beneficial economic exchange.


Daily Post Nigeria
Daily Post Nigeria

NEWSNigeria, India partner to expand trade, investmentPublished on August 24, 2022By Maina Maina

Nigeria and India have inaugurated the Nigeria-India Business Council (NIBC) to serve as a fulcrum for the expansion of trade and investment between the two countries in new areas such as fintech, artificial intelligence, renewable energy, and technology among others.

Vice President Yemi Osinbajo, who inaugurated the platform in Abuja on Tuesday, said that the NIBC will bring about a mutually beneficial economic exchange.

Speaking on the theme “Expanding Trade and Investment Opportunities between Nigeria and India”, the Vice President, represented by the Minister of Mines and Steel Development, Olamilekan Adegbite, noted that both countries have dynamic business environments which provide opportunities for trade and investment in addition to their common aspiration for promoting growth and improving the welfare and material conditions of the people.

He noted that in the area of security both countries are collaborating on defense to curb the scourge of insecurity in Nigeria.

He however called for more collaboration in the areas of entrepreneurship and vocational training, stressing that India has been able to use entrepreneurship to bring its unemployment level to around 7% while that of Nigeria is quite high at about 35%.

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