Nigeria, India Set Up Business Council To Expand Trade, Investment

Nigeria and India in Abuja established the Nigeria-India Business Council NIBC to expand trade and investment between both countries.

The council is aimed at furthering efforts at reaching an anticipated 40 billion dollars’ worth of trade between both countries.

The NIBC was inaugurated by Vice President Yemi Osinbajo in Abuja.

Vice President Yemi Osinbajo who inaugurated the council said both countries would explore new areas of doing business and cooperation to further strengthen bilateral ties between both countries.

Osinbajo, who was represented by Minister of Mines and Steel Development Olamilekan Adegbite, also emphasised the need for the partnership to focus on areas of entrepreneurship that will help reduce the level of unemployment in the country.

India’s Minister of State of External Affairs, Shri V. Muraleedharan said Nigeria had always been a favourite investment destination for Indian businesses with about 135 Indian companies operating in Nigeria with investments worth 20 billion dollars.