Connect with us

National News

Nigeria, India Make Commitments To Scale Up Economic Ties

Published

on

Nigeria, India Make Commitments To Scale Up Economic Ties

Nigeria, India Make Commitments To Scale Up Economic Ties

By: Michael Mike

Nigeria and India have made commitments toward scaling up economic ties to enhance investments in Nigerian government economy and create jobs for teeming Nigerian youths.

Both countries made the commitments on Wednesday at the commemoration of the 73rd Republic Day of India hosted by the Indian High Commission in Abuja.

Speaking at the event, the Acting Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Mr Emeka Offor, said that the NIPC is leveraging on the strategic partnership between Nigeria and India to diversify the economy, create more jobs and wealth.

He said: “India is of strategic importance to Nigeria Investment Promotion Commission and indeed Nigeria, as a result of the similarities we share together as countries in terms of socio-economic development. 

“We went through a diligent process to identify 20 countries that we consider to be of strategic importance to Nigerian economic development and India is one of the 20 countries that we identified. 

“Based on that, NIPC will now begin to deepen relationships with those countries, especially India for the purpose of developing an investment promotion arrangement with them. So that we can attract investors from India into Nigeria and if Nigeria also wants to invest in India, they should be free to do that.”

Offor added: “That is why we want to deepen that relationship but our focus is mainly on attracting investments from India to Nigeria to create jobs, to create wealth, develop the investment landscape in Nigeria.”

He also said that taking cognizance of Nigeria’s quest to diversify the economy and reduce total reliance on oil, NIPC is consulting with India on developing the ICT sector.

Offor said: “Following the pandemic, ICT was one of the sectors that did very well and we regard them as winner because a lot of things can be done using technology.

“So that is why we see a lot of tractions in areas like ICT, e-commerce, health- tech, amongst others. 

“We are leveraging on the relationship we have with India to attract as much tractions to Nigeria’s ICT space from India.”

India’s Acting High Commissioner to Nigeria, Mr Velagaleti Surendra, said that Nigeria remains India’s most strategic partner in Africa and India is ready to support Nigeria in growing its economy.

Surendra said that India is also working on diversifying its investments in renewable energy exploring new areas to diversify its investments in Nigeria 

He added that the High Commission also invited the Nigeria Investment Promotion Commission and the private sector to the event considering how key they are to diversifying Nigeria’s economy.

Also Read: NNS arrests 20 foreigners, intercept two wooden boats…

He said: “One potential area we see is in renewable energy because there is a lot of interest in Nigeria in solar energy, setting up of solar plants and even in the agricultural sector. 

“We see that renewable energy is a major growth opportunity for both countries and of course in areas of health, setting up of hospitals, in education, setting up for institutes of educations, learning centers. 

“So the opportunities are endless and we hope to see much collaborations between both countries. 

“Nigeria is the largest trading partner of India in African Region, Nigeria is one of the most important energy partners for us, and Indian investments are strong in Nigeria.”

He revealed that: “We have more than 135 companies in various sectors, pharmaceuticals, power, vehicles and lots more. 

“We see that there are potentials for more collaborations between the two countries because Indian industries are here to be part of your growth story.”

Nigeria, India Make Commitments To Scale Up Economic Ties

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National News

President Tinubu Commends Zulum over dividends of Democracy even as he commissions new projects in Borno

Published

on

President Tinubu Commends Zulum over dividends of Democracy even as he commissions new projects in Borno

By: Bodunrin kayode

President Bola Tinubu on Saturday commended Prof Umara Zulum for doing a good job even as he delivers series of new project for his people.

The President who made the remarks during the commissioning ceremony of several projects performed separately, commended Governor Zulum for his transformative leadership which is really touching the lives of the people.

“I congratulate the Governor and the people of Borno State for this transformation. Government is all about people, and Professor Zulum is doing a very good job of caring for people.” Said Tinubu.

Tinubu had Commissioned three newly constructed mega schools and a fleet of 620 fully electric vehicles and tricycles delivered by the Governor of Borno State, Professor Babagana Zulum.

The President highlighted the projects as tangible evidence of effective governance and a blueprint for holistic state development needed in times like these.

The commissioned schools include: Mafoni Day Secondary School, Bola Ahmed Tinubu Government Day Secondary School and Mafoni Primary School.

They are part of Governor Zulum’s ambitious 104 Mega School Initiative designed to drastically improve access to quality education and rebuild the sector after over a decade of insurgency.

Each of the school complexes is equipped with modern classrooms, laboratories, libraries, sports facilities and an administrative complex to create a conducive learning environment.

Earlier, the President had also commissioned the international terminal of the Muhammadu Buhari International Airport, Maiduguri, in preparation for the commencement of international operations.

Responding to the President’s gesture Zulum expressed gratitude for the federal government’s support and reiterated his administration’s commitment to rebuilding Borno’s infrastructure, economy and human capital.

President Tinubu concluded his state visit by attending the wedding ceremony of the son of the former Borno State Governor Senator Modu Sheriff’s, conducted at the Maiduguri Central Mosque in front of the Palace of the Shehu of Borno state.

The event was attended by state government officials, traditional rulers community leaders and a group of federal officials in the Presidential convoy.

President Tinubu Commends Zulum over dividends of Democracy even as he commissions new projects in Borno

Continue Reading

National News

Tinubu’s Procurement Reforms, a Turning Point for National Economic Growth – NEFGAD

Published

on

Tinubu’s Procurement Reforms, a Turning Point for National Economic Growth – NEFGAD

By: Michael Mike

The Network for the Actualization of Social Growth and Viable Development (NEFGAD), a frontline public procurement advocacy group, has commended President Bola Tinubu for the bold, visionary, and far-reaching reforms outlined in his presentation of the 2026 Appropriation Bill to the National Assembly.

NEFGAD particularly commended President Tinubu’s remarks on public procurement at the presentation of the budget, stating that the President’s statement underscores the administration’s unwavering commitment to transparency, efficiency, and prudent management of public resources.

In a statement signed by the organisation’s acting head of office, Barrister Unekwu Ojo, and made available to journalists on Saturday, NEFGAD lauded the President’s disclosure that the Federal Government commenced a comprehensive procurement reform framework from November last year, describing it as a decisive shift toward strengthening due process, reducing waste, and enforcing accountability across Ministries, Departments, and Agencies (MDAs).

The statement noted that the reforms have demonstrably shortened procurement processing timelines, enhanced compliance, and strengthened sanctions against erring contractors and public officials, setting a new benchmark for governance and fiscal prudence.

The group said that November 2024, the period referenced by Mr. President, coincides with the assumption of office of the Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale Adedokun, and established beyond doubt, that the procurement reforms acknowledged by Mr. President are being driven and implemented under the leadership of Dr. Adedokun, in alignment with the policy direction of the Tinubu administration.

Of particular significance is the President’s emphasis on the Nigeria First Policy, which mandates MDAs to prioritize Nigerian-made goods and local companies in public procurement, NEFGAD described this policy as a strategic intervention aimed at deepening local content, stimulating domestic industries, creating jobs, encouraging innovation, and reducing Nigeria’s over-reliance on imports, and emphasised that procurement is no longer a mere administrative process but a powerful instrument for national economic development and industrial growth.

Ojo further commended the remarkable achievement of the Bureau of Public Procurement under Dr. Adebowale Adedokun, which has recorded over ₦1 trillion in savings within just one year through enhanced price intelligence and benchmarking mechanisms.

She insisted that: “This figure is larger than the cumulative savings recorded by the BPP in 17 years from 2007 to 2024 before Dr. Adedokun’s assumption of office, marking the most significant cost-saving milestone in the history of the Bureau and perhaps in the entire continent by any government in a single budget cycle.”

NEFGAD observed that these gains are a clear demonstration that Nigeria’s procurement system is entering a new era defined by efficiency, national interest, and sustainable economic growth. The organisation stressed that while the achievements are commendable, sustained reforms must be safeguarded through strict adherence to due process, impartial enforcement, and continuous transparency.

The group called on all stakeholders, including MDAs, civil society organisations, and the media, to actively engage in monitoring the implementation of procurement reforms, ensuring that the Nigeria First Policy achieves its intended goals without being hijacked by vested interests or manipulated for political patronage.

NEFGAD also urged the government to institutionalise best practices, consolidate savings, and expand the culture of accountability, warning that the long-term success of the reforms hinges on consistent oversight, robust regulatory frameworks, and unwavering political will.

According to NEFGAD, the ongoing transformation of Nigeria’s procurement landscape is not only a victory for public finance management but also a template for good governance that other sectors can emulate. The organisation reiterated its commitment to supporting the government’s reform agenda through advocacy, capacity building, and independent monitoring, emphasizing that procurement must continue to serve as a strategic driver of economic development, job creation, and national prosperity.

Tinubu’s Procurement Reforms, a Turning Point for National Economic Growth – NEFGAD

Continue Reading

National News

China-Nigeria Trade Volume Surpasses $22b- Envoy

Published

on

China-Nigeria Trade Volume Surpasses $22b- Envoy
…10,000 Nigerians Have Enjoyed Training Programmes in China So Far

By: Michael Mike

China-Nigeria trade volume has surpassed $22 billion, China Ambassador to Nigeria, Yu Dunhai has said.

Speaking at the 1st Annual China-Nigeria Government Exchange Program Alumni Reunion Gala, in Abuja, Yu also disclosed that over 10,000 Nigerians have benefited from opportunities for the exchange provided by China.

Yu while noting that 2025 trade volume has surpassed that of the previous year, said that China’s direct investment to Nigeria increased by 130%, while Nigeria’s export increased by over 200%.

He said: “ I think this bilateral relations not only has a political meaning, but it’s actually more about people-to-people relations. And I’m very happy to let all of you know that our trade volumes, this year, already surpassed 22 billion U.S. dollars.

“That’s already surpassed the total amount of last year. And China’s direct investment to Nigeria increased by 130%. And another good news is Nigeria’s export increased by over 200%.”

The envoy also said his country is working closely with Nigeria authorities to implement the zero tariff policy announced in June 2025, which is meant to expand Nigeria’s export to China while also enhancing Nigeria’s position on the international global trading system.

He said: “We are working very closely with the Ministry of Industry, Trade and Investment to implement the zero tariff policy, which the Chinese government announced last June. That is, China is going to provide zero tariff for 100% of products from all 53 African countries, including Nigeria, to China.

“And I believe that this is going to expand Nigeria’s export to China and contribute also to the enhancing of Nigeria’s position on the international global system, the trading system.”

He noted that China-Nigeria are working on other various projects which are aimed at providing mutual benefits, stating that he believed that Nigeria and China are natural partners, as both countries shared the same interest.

He therefore said both countries need to work together to enhance the current global governance, to address the active representation of African countries, and to better let our voices be heard globally.

Yu, while stating that: “China’s today is Nigeria’s tomorrow,” noted that China and Nigeria shared a lot of similarities.

On bringing the alumni together, Yu said: “is to provide a platform for our alumni who attended the Chinese Government Exchange Programme to stay connected, to exchange ideas, and thus contribute to China-Nigeria relations.

“Indeed, over the years, China has provided over 10,000 opportunities for the training programme for Nigerians.

He said the training opportunities aimed at building the capacities and sharing experience of governance, to poverty reduction, to manufacturing, agriculture, public health, trade, investment, science, technology, innovation, food economy, digital economy.

He added that: “And I believe that this not only helps to enhance the capabilities of the individuals, but also contributes to the economic and social development of Nigeria.”

Yu said the alumni of the exchange programme cut across Nigeria’s cities of Abuja, Lagos, Maiduguri and Ibadan, among others.

China-Nigeria Trade Volume Surpasses $22b- Envoy

Continue Reading

Trending

Verified by MonsterInsights