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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
NISER, NiDCOM Advocate Stronger Diaspora Policy to Boost National Development
NISER, NiDCOM Advocate Stronger Diaspora Policy to Boost National Development
By: Michael Mike
The Nigerian Institute of Social and Economic Research (NISER), in partnership with the Nigerians in Diaspora Commission (NiDCOM), has called for a more robust and coordinated diaspora policy framework to enhance Nigeria’s development prospects.
This call was made on Tuesday during a high-level validation workshop convened to review findings from a comprehensive diaspora study spanning six continents. The initiative aims to strengthen engagement with Nigerians abroad and maximize their contributions to the country’s economic and social growth.
In her opening remarks, NISER Director-General, Antonia Taiye Simbine, described the Nigerian diaspora as a critical national asset, noting that annual remittances exceed $20 billion—one of the highest in Africa.
She emphasized that beyond financial contributions, diaspora Nigerians bring valuable expertise, innovation, and international networks that can significantly enhance national competitiveness.
Despite these advantages, Simbine pointed to persistent challenges hindering effective engagement, including inconsistent policies, weak institutional coordination, regulatory constraints, and trust gaps between stakeholders.
She stressed that the validation workshop provides an opportunity to refine the study’s recommendations, ensuring they are practical, inclusive, and capable of driving meaningful impact.
Also speaking, NiDCOM Chairman/CEO, Abike Dabiri-Erewa, urged a strategic shift in how diaspora remittances are utilized. According to her, Nigeria must transition “from remittances for consumption to remittances for investment.”
Dabiri-Erewa highlighted the global competitiveness of Nigerians abroad, noting their contributions across key sectors such as healthcare, technology, and governance. She explained that the study’s findings would help shape a structured roadmap for diaspora engagement, anchored on improved policy coordination, investment-friendly systems, and technology transfer.
She further underscored the need for data-driven policymaking, adding that Nigeria must intentionally transform the challenge of “brain drain” into opportunities for “brain gain” and “brain circulation.”
Contributing to the discussion, representatives of the Nigerian Medical Association (NMA) emphasized the growing role of diaspora professionals in strengthening Nigeria’s healthcare system. Speaking on behalf of the association’s president, Dr. Bala Muhammad Audu, Dr. Idris Liman noted that innovations such as locally available in vitro fertilisation (IVF) services—once largely accessed abroad—demonstrate the impact of knowledge transfer from Nigerian experts overseas.
He reaffirmed the association’s commitment to fostering collaboration with diaspora medical professionals to improve healthcare delivery and reduce the need for medical tourism.
Participants at the workshop collectively stressed that sustained and well-coordinated diaspora engagement could be transformative for Nigeria’s development. The validation process is expected to yield refined, evidence-based policy recommendations to guide government efforts in integrating diaspora contributions into national planning.
NISER, NiDCOM Advocate Stronger Diaspora Policy to Boost National Development
News
UK Launches Creative Fund to Strengthen Nigeria’s Film, Fashion, Music Industries
UK Launches Creative Fund to Strengthen Nigeria’s Film, Fashion, Music Industries
By: Michael Mike
The UK-Nigeria Tech Hub has unveiled a new Creative Fund aimed at boosting local production capacity across Nigeria’s film, fashion, and music industries.
The initiative, backed by the UK Government, is designed to address critical gaps in technical skills, infrastructure, and access to modern production tools within Nigeria’s creative sector.
The fund aligns with the goals of the UK-Nigeria Economic Transformation and Investment Partnership (ETIP) Creatives Working Group, launched in 2025, and follows commitments made during Bola Ahmed Tinubu’s state visit to the United Kingdom in March 2026.
Speaking on the launch, Director of the Tech Hub, Oyinkansola Akintola-Bello, said the initiative represents a shift from policy discussions to practical action.
She noted that while Nigeria’s creative industry already contributes significantly to the economy, more support is needed to enable creatives to produce high-quality work locally rather than outsourcing key technical processes abroad.
Funded under the UK’s Digital Access Programme and implemented by Tech4Dev, the Creative Fund draws on findings from a 2024 study of Nigeria’s creative ecosystem. The research revealed that the sector employs about 4.2 million people and contributes roughly $3 billion annually to the country’s GDP, despite facing structural challenges.
These challenges include limited access to formal financing, heavy reliance on self-taught skills, and the outsourcing of high-value technical work outside Nigeria.
The fund will support projects across film, fashion, and music, particularly those with strong potential for scalability, job creation, and local impact. It will also help cover technical gaps by funding access to specialists such as visual effects artists, sound engineers, and post-production experts, as well as digital tools like content delivery systems and AI-powered production technologies.
Country Manager for Nigeria and Sub-Saharan Africa at Tech4Dev, Abraham Akpan,, emphasized that the initiative prioritizes inclusion by supporting women-led and youth-driven ventures, as well as underrepresented groups in the creative economy.
He added that the fund is intended to ensure Nigeria’s creative growth is backed by sustainable local talent and infrastructure.
Applications for the Creative Fund are currently open and will be reviewed on a rolling basis. Eligible applicants include creative companies, studios, production houses, fashion enterprises, and music labels with clearly defined technical needs and a commitment to co-investment.
The initiative is expected to strengthen Nigeria’s creative value chain and position the country as a hub for high-quality, locally produced creative content.
UK Launches Creative Fund to Strengthen Nigeria’s Film, Fashion, Music Industries
News
NESREA Shuts Down 30 Non-Compliant Facilities Over EIA Violations
NESREA Shuts Down 30 Non-Compliant Facilities Over EIA Violations
By: Michael Mike
The National Environmental Standards and Regulations Enforcement Agency (NESREA), alongside members of the press, carried out an enforcement exercise in Abuja, sealing 30 facilities over non-compliance with Environmental Impact Assessment (EIA) requirements in the construction sector.
In a speech delivered at the briefing, the Director of Environmental Quality Control, Elijah Udofia, said the affected facilities were found to have violated environmental regulations guiding construction activities, prompting decisive action by the agency.
“These violations were identified through NESREA’s routine inspections and compliance monitoring activities. In addition, these facilities also demonstrated unwillingness to fully comply with regulatory requirements relating to environmental documentation and responsiveness to compliance engagements. Where regulatory communication is clear, time-bound, and evidence-based, failure to respond constitutes a serious breach of compliance obligations and poses risks to both the environment and public health,” he said.
Udofia explained that the construction sector, while vital to national development, poses serious environmental risks when safeguards are ignored, including improper waste management, building on floodplains, uncontrolled emissions, and unsafe handling of materials.
He stressed that NESREA’s actions were in line with its mandate to enforce environmental laws and ensure public safety.
“Environmental compliance is not a choice. The regulations are designed to prevent harm before it occurs and to ensure that construction activities are managed responsibly from the start,” he stated.
He added that the agency moved from engagement to enforcement after the facilities failed to meet compliance requirements or respond adequately to regulatory concerns.
The director outlined the measures taken by NESREA, noting that the enforcement actions were aimed at stopping or curtailing environmentally harmful activities, compelling compliance through regulatory interventions, and ensuring that corrective measures are implemented within stipulated timelines.
“These enforcement steps are consistent with the agency’s powers under the NESREA Act and the National Environmental (Construction Sector) Regulations 2011,” he added.
Sending a strong warning to developers and contractors, Udofia emphasized that environmental documentation is mandatory and must be submitted as required by law. He also urged operators to respond promptly to compliance notices and implement proper environmental safeguards on-site.
“Dust control, waste management, erosion prevention, and safe site practices must be integrated into project execution—not added after problems arise. Compliance is part of project success,” he said.
NESREA also reassured the public that its enforcement actions are based on evidence and due process, not sentiment.
“We will continue to enforce the law fairly and consistently across the country,” Udofia noted.
He further called for cooperation from stakeholders to improve environmental performance across the construction sector.
“While we enforce compliance, we also call on stakeholders to cooperate with NESREA. Communities deserve clean and safe environments, and developers deserve predictable regulatory processes,” he said.
The agency concluded that the enforcement action should serve as a clear warning, reaffirming its commitment to strict enforcement of environmental regulations, especially where violations pose risks to public health and the environment.
NESREA Shuts Down 30 Non-Compliant Facilities Over EIA Violations
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