Nige­ria-In­dia trade vol­ume drops to $12bn in 2016

Weekly Trust - - News - Ab­dul­la­teef Salau

The Act­ing In­dian High Com­mis­sioner, Mr. Kaiser Alam, has said that the trade vol­ume be­tween Nige­ria and In­dia dropped from $16 bil­lion in2015 to $12 bil­lion in 2016. Speak­ing at a re­cep­tion in Abuja to mark the 68th Repub­lic Day of In­dia, the en­voy said the fall was be­cause of de­clin­ing oil price in the in­ter­na­tional mar­ket. He said “We were im­port­ing the same amount but the oil prices came down. Above all, our trade was the same and the trade sur­plus was in favour of Nige­ria.”

Alam said that 2016 marked a sig­nif­i­cant year in bi­lat­eral re­la­tions, adding that both coun­tries sought to ex­pand re­la­tions in all ar­eas. Ac­cord­ing to him, the In­dian Vice Pres­i­dent, Mr Hamid An­sari, was in Nige­ria in Septem­ber last year and co­op­er­a­tion in agri­cul­ture was dis­cussed in great de­tail.

As such, he said Nige­ria’s agri­cul­ture min­istry of­fi­cials will visit In­dia in March and it is hoped the visit will dis­cuss fur­ther co­op­er­a­tion and im­ple­ment ideas.

On bi­lat­eral re­la­tions, he said there is al­ways room for im­prove­ment while schol­ar­ship slots for short-term cour­ses un­der the In­dia Tech­ni­cal and Eco­nomic Co­op­er­a­tion, (ITEC), had been in­creased from 200 to 300.

Alam added that the in­crease will open more op­por­tu­ni­ties for Nige­rian gov­ern­ment of­fi­cials to par­tic­i­pate in such plat­forms to im­prove their skills in var­i­ous ar­eas.

The Min­is­ter of For­eign Af­fairs, Mr. Ge­of­frey Onyeama, in a mes­sage urged both coun­tries to strengthen eco­nomic re­la­tions to re­duce trade im­bal­ance.

The min­is­ter, who was rep­re­sented by the min­istry’s Di­rec­tor of Re­gions, Mo­hammed Suleiman, said this could be done by cre­at­ing more ac­cess for Nige­rian prod­ucts in In­dian mar­kets.

Kogi Govt. House

Gov­er­nor Yahaya Bello of Kogi State (left) and the Sul­tan of Sokoto, Al­haji Sa’ad Abubakar III dur­ing Ju­mat Prayer in Lokoja yes­ter­day in Lokoja yes­ter­day. The Sul­tan was in the state to in­au­gu­rate the ul­tra­mod­ern Kogi State Rev­enue House. Photo:

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