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With 150 Companies and $27b Investment in Nigeria, India Interested in More, Says Envoy
With 150 Companies and $27b Investment in Nigeria, India Interested in More, Says Envoy
By: Michael Mike
About 150 Indian companies have invested more than US$27 billion in Nigeria in the last four decades, the Indian High Commissioner to Nigeria, Gangadharan Balasubramanian has revealed.
Balasubramanian made the disclosure in his address at the anniversary celebration of the 75th Republic Day of India, organised by the Indian mission on Friday night in Abuja, noting that India remains interested in investing more in Nigeria.
The envoy while describing relations between India and Nigeria as excellent, said India will continue to play significant role and contribute to the global good, adding the recently concluded Indian Presidency of G20 showcased the country’s readiness to effectively play a global role.
He said India stand shoulder-to-shoulder with Nigerian friends in the joint journey towards development and that the Government of India is committed to further strengthening such ties.
Balasubramanian also said: “India and Nigeria enjoy strong and historical relations. With the ties dating back to before Nigeria’s independence, our bilateral relations have been nurtured by the leadership of both the countries.
“Our economic and trade relations are strong and growing. Currently nearly 150 Indian companies with an investment of 27 billion dollars are in Nigeria, mainly in the manufacturing sector and employ the largest number of people after the Federal Government.
He noted that: “Owing to the special relationship, India had invited Nigeria as a Guest Country during her presidency of G20. We had a memorable visit of President Bola Tinubu to the G20 Summit in September, 2023 that consolidated the ties further.
“Out of the 14 billion dollars promised during this visit as investment into Nigerian economy, 7 billion dollars has already been signed immediately after the visit.”
The envoy reiterated his country’s commitment to deepen the India-Nigeria ties in terms of the recent visit by India External Affairs Minister, Dr. Subrahmanyan Jaishankar for the Joint Commission meeting held in Nigeria.
The envoy attributed progress made by his country to the working of his country’s Constitution adopted in 1950, saying from the end of the last century till now, India has become one of the fastest growing emerging economies.
He said: “Today with more that 3.7 trillion dollars GDP, her economy is the fifth largest in the world. Education, health and economy have been consistent targets of successive governments in India resulting in all round improvement of standard of living of Indian citizens.
“We run one of the world’s largest health insurance schemes, made education a fundamental right, continue with the biggest welfare initiative in providing food grains to significant percentage of Indian citizens, increased the paying capacity of the people and provided equal opportunities to all.
“We have drawn up schemes to uplift the vulnerable and on gender equality, passed legislation providing 33per cent reservation for women in parliament, to name a few.
“Starting from 1964, we have been providing scholarship for a large number of short-term courses under the Indian Technical and Economic Partnership to people around the world.
“We have become significant development partner through Lines of Credit and Grants-in-Aid to the global south, which today stands at 39 billion dollars, which includes more than 12 billion dollars to Africa,” he added.
Also speaking at the occasion, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, who was represented by Ambassador Alex Kefas, Director of Europe and Regions in the ministry, said Nigeria-India cordial and friendly relations dates back to 1958.
According to him, the bond between the two countries is deep and can be characterized by historical and cultural connections strengthened through our shared struggle for independence, which formed basis for their partnership.
“The state of Nigeria-India economic relations has seen remarkable improvement in recent years. Trade volume between the two countries has increased significantly.
“India is now Nigeria’s largest trading partner in Africa and the highest importer of Nigeria’sCrude Ol. Similarly, Nigeria is India’s largest trading partner in A fica.
“Bilateral trade between both countries in the last two years amounted to approximately 14.95 billion dollars in the formal sector and about USD 5 billion in the informal sector,” Tuggar said.
He said Nigeria will continue to open its door for collaboration with India as pathway to advance cordial relationship and between both countries.
The event attracted Gov. Uba Sani of Kaduna State, Mrs. Hannatu Musawa, Minister of Art, Culture and Creative Economy, Dr Jamila Ibrahim, Minister of Youth Development, Mrs. Pauline Tallen, former Minister of Women Affairs and diplomats, among others.
With 150 Companies and $27b Investment in Nigeria, India Interested in More, Says Envoy
News
Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA
Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA
By Zagazola Makama
Troops of the 1 Brigade of the Nigerian Army operating under Operation FANSAN YANMA have neutralised a suspected terrorist and recovered arms during an offensive operation in Shinkafi LGA.
Security sources told Zagazola Makama that the operation was carried out on March 13 by troops of CT 5, who launched a deliberate clearance mission targeting terrorist camps located at Tubali and Zangon Danmaka.
The sources said the operation followed credible intelligence on the presence of armed bandits and other criminal elements using the locations as operational hideouts.
During the operation at Tubali, troops made contact with the suspected terrorists and engaged them in a brief gun battle, forcing the criminals to flee into nearby forested areas.
“During the engagement, one terrorist was neutralised, while others escaped with possible gunshot wounds,” the source said.
Following the encounter, troops conducted exploitation of the area and recovered one AK-47 rifle, a magazine containing two rounds of 7.62mm special ammunition, and a motorcycle believed to belong to the fleeing terrorists.
The recovered items were secured by the troops while further search operations were carried out around the camp to ensure that no other threats remained in the vicinity.
The sources added that when troops advanced to Zangon Danmaka, no contact was made with terrorists as the suspects were believed to have fled the area ahead of the troop arrival.
However, troops maintained dominance in the general area while conducting further patrols and surveillance operations aimed at preventing the terrorists from regrouping.
Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA
News
Troops arrest suspected ISWAP spy in Kanama, Yobe
Troops arrest suspected ISWAP spy in Kanama, Yobe
By Zagazola Makama
Troops of 159 Battalion in collaboration with members of the Civilian Joint Task Force have arrested a suspected spy linked to terrorists operating in the North-East in Kanamma Yobe state.
Security sources told Zagazola Makama that the suspect, identified as Malam Fantami, a native of Dikwa was apprehended during a security operation by troops deployed in the area.
The sources said the suspect was intercepted following credible intelligence indicating that he might be working as an informant for terrorists affiliated with the ISWAP.
According to the sources, items recovered from the suspect at the time of his arrest included a mobile phone, a smart watch, prayer beads, a motorcycle key, and a cash sum of ₦7,000.
Preliminary examination of the suspect’s mobile phone by security personnel reportedly revealed several suspicious materials, including photographs of motorcycles, large sums of cash, AK-47 rifles and other items believed to be linked to terrorist activities.
“The discovery of these materials has raised serious suspicion about the suspect’s role as a possible logistics informant or intelligence asset for insurgent elements operating in the region,” the source said.
The suspect is currently in military custody, where he is undergoing further interrogation to determine the extent of his involvement with terrorist networks and to identify possible collaborators.
The military high command said the arrest forms part of ongoing counter-terrorism efforts by troops in the North-East aimed at dismantling the intelligence and logistics networks that support insurgent operations.
Kanama, located in Yunusari Local Government Area of Yobe State near the border with Niger Republic, has remained an important corridor frequently exploited by insurgent groups for movement and supply activities.
Troops arrest suspected ISWAP spy in Kanama, Yobe
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Troops repel ISWAP attack in Bita, Borno
Troops repel ISWAP attack in Bita, Borno
By: Zagazola Makama
Troops of Operation HADIN KAI successfully repelled an attack by terrorists suspected to be members of ISWAP in Bita area of Borno state following a fierce overnight encounter.
Security sources said the attack began at about 1:09 a.m. on Saturday, when the insurgents launched a coordinated assault on troops of the 26 Task Force Brigade deployed in the Bita axis.
According to the sources, the terrorists attempted to overwhelm the troops’ position but were met with stiff resistance from the soldiers who engaged them in a sustained gun battle.
“In a decisive and coordinated operation, gallant troops of Operation Hadin Kai launched a simultaneous land and air assault on terrorist positions in Bita in the early hours of today,” the source said.
The coordinated response involved ground troops engaging the insurgents while aerial support conducted precision strikes and surveillance over the battlefield, forcing the attackers to retreat.
The intense engagement compelled the terrorists to withdraw towards their enclaves after suffering heavy pressure from the combined land and air assault.
Following the withdrawal of the insurgents, troops immediately commenced exploitation operations to pursue fleeing elements of the terrorist group and prevent them from regrouping.
Troops repel ISWAP attack in Bita, Borno
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