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India to invest $4b in Nigeria

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India is to invest some $4 billion in the Nigerian economy, Minister of Communications, Adebayo Shittu said on Monday.

Briefing journalists on the planned, Indo-Africa Information, Communication, Technology (ICT), Expo 2018, Shittu said the two-day expo would help Nigeria’s start-ups, entrepreneurs and businesses to form partnerships with their foreign counterparts.

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The event, the 4th in the series would organized by both the government of India and Nigeria in Lagos, on between May 22 and 23, 2018, According to Shittu, “Last year the Indian government made a commitment to invest $4 billion into Nigeria economy. This expo is very important to Nigeria because the two day national and international forum falls under my ministry purview.

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India to invest $4b in Nigeria

“Nigeria being the fastest growing ICT market and with a young population that have capacity and innovative mind, we stand to partner and learn from India. The Federal Government’s campaign to encourage the patronage of locally produced goods and services is on course.

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“The Federal Government has also put the spotlight on local manufacturers. Via three strategic Executive Orders, it compelled all government parastatals to channel at least 40% of procurement to locally made services. These executive orders, signed were to promote patronage of local products, transparency and ease of doing business in Nigeria’. Click here to read more.

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