Tuesday, September 25, 2018
Advertisement

India still Nigeria’s largest trade partner, says Onyeama

India still Nigeria’s largest trade partner, says Onyeama
May 25
07:06 2017
Advertisement

India remains Nigeria’s largest trade partner, Geoffrey Onyeama, the minister of foreign affairs, has said.

Onyeama made the statement on Wednesday in Abuja when a delegation from the Defence College, India, led by Indian high commissioner to Nigeria, Nagabushana Reddy, paid him a courtesy visit.

NAN reports that the visiting military officers were on a three-day world study tour to Nigeria as part of the curriculum for their Masters Degree in Philosophy (MPhil) programme.

NAN reports that the volume of trade between India and Nigeria dropped from 16 billion dollars in 2015 to 12 billion dollars in 2016 due to the fall in oil price.

The minister, who expressed Nigeria’s determination to strengthen trade relations between Nigeria and India, recalled that the two countries had long term trade relations.

“India is our largest trading partner at the moment; India is a very important partner in all aspects and we continue to look forward to sustain that,” he said.

The minister told the delegation that the federal government had put in place measures to boost Nigeria’s economy.

He said that the government is working hard to strengthen Nigeria’s economy and attract foreign direct investment.

Onyeama informed the delegation that when the incumbent administration came on board, it focused on three areas which include security, good governance and anti-corruption as well as job creation.

He said that in its efforts to fast track the process of diversification of the economy, the government adopted policy of economic diplomacy.

“This is where economic diplomacy came up; we realise that we cannot rely on one commodity, we need to diversify and we have to reach out to other countries that we are ready for business,” Onyeama said.

“We also tried to make the environment more conducive for investment; there have been a lot of policies in reaching out to other countries that we are serious for business.

“We have put a lot of policies in place to show to investors and the world at large that Nigeria is ready for business.”

In his remarks, the high commissioner said the officers were in Nigeria on a world tour as part of the requirements for their military academic qualification.

He said that the visiting officers would leverage on the existing relationship between India and Nigeria to acquire the needed knowledge for their courses.

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2018 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

0 Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Write a Comment

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

*

Advertisement
Advertisement

Exchange Rates

September 24, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement