Wednesday, 28 September 2016

President Buhari welcomes $5 Billion investment from India


President Muhammadu Buhari on Tuesday welcomed the proposed five billion dollars investment in Nigeria by visiting Indian business delegation, led by Indian Vice-President Hamid Ansari.

According to a statement issued by Buhari’s Senior Special Assistant on Media and Publicity, Malam Garba Shehu, the President made the remark when he received Ansari at the State House, Abuja. Shehu quoted Buhari as saying “India has already invested 10 billion dollars in the Nigerian economy. “Nigeria will continue to deepen its relationship with India in the areas of health, education, agriculture, technology and trade.”

The President also said Nigeria had over the years benefited from the cooperation of the Asian country in trade and investment, agriculture, technology and the fight against terrorism. According to him, Nigeria will emulate India’s agricultural model and capacity to feed its one billion population, and also export to other countries, describing the country as “sustainable and prosperous’’. President Buhari noted that Nigeria would continue to support the reform of the UN Security Council, pointing out that it was unfair on the rest of the world for five countries to exercise power of ‘‘yes or no’’ in the UN.

 In his remarks, the Indian Vice-President said that his country, which was the leading buyer of Nigeria’s crude oil, would increase its purchase of the commodity in addition to natural gas. He said the relationship between Nigeria and India was near perfect as both countries ‘‘have nothing to quarrel about.”

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