News
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
Police arrest three suspected kidnappers in Gombe
Police arrest three suspected kidnappers in Gombe
By: Zagazola Makama
The Gombe State Police Command has arrested three suspected kidnappers following a tip-off from credible intelligence, sources said on Friday.
Police sources said the suspects were apprehended on March 10 at about 10:00 p.m. by operatives working in conjunction with local hunters.
The arrested suspects were identified as Mohammed Abubakar, 29; Mohammed Bello, 23; and Mohammadu Ali, 25, all residents of Galda Village, Fika Local Government Area of Yobe State.
According to the report, the suspects were planning to carry out a kidnapping in an unspecified location in Bauchi State. Upon interrogation, they allegedly confessed to the planned crime.
Police said investigations were ongoing to uncover further details and apprehend any other accomplices involved in the plot.
Police arrest three suspected kidnappers in Gombe
News
Youths attack and kill two army officers while responding to dispute in Cross River
Youths attack and kill two army officers while responding to dispute in Cross River
By: Zagazola Makama
Two army officers, including an intelligence officer, were reportedly killed during a violent clash between youths in a disputed crisis zone between Isabang and Alesi communities in Obubra Local Government Area of Cross River State.
Sources told Zagazola Makama that the incident followed a conflict on March 11 when Ibrahim Musa, a 25-year-old miner from Kusa, who deals in tin ore at Ekuri village, was allegedly beaten by youths at a village checkpoint and had his mined minerals seized.
The miner reportedly reported the attack to soldiers stationed at 245 Battalion, Edor Barracks, near Jenifer Etuh’s Hospital in Ochon. Troops responded by moving into the forest to arrest four youths allegedly involved in the attack.
Residents said other youths blocked the access road to prevent the arrest and attacked the soldiers. In response, they fired which resulted to the injuries of four persons, including Christopher Agara, 27, and Ogobi Egbe, 30, while two others were evacuated for native treatment.
The attack resulted in the deaths of two soldiers.
Additional troops have since deployed additional personnel to restore order in the area, and normalcy has reportedly returned.
Youths attack and kill two army officers while responding to dispute in Cross River
News
New Tax Regime to Ease Burden on Workers, Small Businesses — Tegbe
New Tax Regime to Ease Burden on Workers, Small Businesses — Tegbe
By: Michael Mike
Chairman of the National Tax Policy Implementation Committee (NTPIC), Joseph Tegbe, has said Nigeria’s new tax regime is structured to reduce the financial burden on workers and small businesses while strengthening the country’s fiscal stability and economic competitiveness.
Speaking at the BusinessDay Tax Reform Conference 2026 themed “Navigating the New Tax Regime: What It Means for Your Wallet,” Tegbe described the reforms as the most far-reaching restructuring of Nigeria’s tax system in decades. He noted that the initiative is aimed at simplifying tax processes, promoting fairness, and creating an environment that supports economic expansion.

According to him, the reforms are anchored on four major legislations — the Nigeria Tax Act, 2025, Nigeria Tax Administration Act, 2025, Nigeria Revenue Service (Establishment) Act, 2025 and the Joint Revenue Board of Nigeria (Establishment) Act, 2025 — which collectively introduce a more coordinated and transparent tax administration framework.
Tegbe explained that the new structure provides targeted reliefs for individuals and small enterprises, ensuring that low-income earners and emerging businesses are not overburdened by taxation.
Under the new regime, individuals earning below ₦800,000 annually will be exempted from personal income tax. Workers will also benefit from a rent relief allowance of up to 20 per cent, capped at ₦500,000, among other incentives designed to ease financial pressure on households.
Small businesses are equally positioned to gain from the reforms. Companies with annual revenues below ₦100 million and assets not exceeding ₦250 million will be exempted from Company Income Tax, while nano-enterprises with annual earnings below ₦12 million will not be required to pay income tax.
Despite these relief measures, Tegbe stressed that individuals and businesses within the exempted thresholds must still maintain proper documentation of their earnings and comply with the requirement to file tax returns.
He noted that beyond the tax reliefs, the reforms will also strengthen institutional coordination among key agencies including the Nigeria Revenue Service, the Joint Revenue Board of Nigeria, the Tax Appeal Tribunal and the Office of the Tax Ombud. He added that increased digitalisation of tax processes will improve transparency, efficiency and compliance across the system.
According to Tegbe, the broader objective of the reforms is to create a tax structure that supports enterprise development, encourages investment and enhances Nigeria’s ability to mobilise revenue for national development without placing excessive strain on citizens.
“The goal is to build a tax system that works for everyone — one that supports government in delivering development while also protecting the financial wellbeing of ordinary Nigerians,” he said.
Other dignitaries at the conference included Executive Secretary of the Joint Revenue Board of Nigeria, Olusegun Adesokan; Acting Executive Chairman of the FCT Internal Revenue Service, Michael Ango; renowned economist Uche Uwaleke; and policy expert Sam Amadi, among others, who also contributed to discussions on the implications of the new tax framework for businesses and households.
New Tax Regime to Ease Burden on Workers, Small Businesses — Tegbe
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