India’s Investment in Nigeria Hits $27bn in 2023

Gilbert Ekugbe

India’s investment in Nigeria has hit over $27 billion in 2023 from more than 200 companies operating in the country.

The Consul General of India, Lagos, Nigeria, Chandramouli Kern, stated this on the sidelines of an annual prayer service event tagged, “Mata ka Jagran,” organised by the Shan E Punjab Association of Nigeria (SPAN).

According to him, India is one of the largest trading partners of Nigeria, saying that India is the biggest importer of Nigeria’s crude oil and natural gas while Nigeria is also a net importer of India’s rice and pharmaceuticals.

“This event is organised by a prominent Indian community association. It is an important occasion to remain culturally aligned with India which the Indian community generates funds to donate to charity. It is keeping our people happy and we want to thank Nigerians for giving us the support to celebrate the Indian community,” he said.

Earlier, the president, SPAN, Mr. Narindera Chugh, said Nigeria is the best kept secret of the world, adding there are a lot of economic potentials Nigeria and India can explore going forward.

“I feel there are a lot of similarities between both countries as they have lots to gain as far as culture and economics are concerned. I believe there is a lot for both countries to gain from this prayer event,” he said.

On his part, the Vice President, SPAN, Dr. Grover, said the prayer service is an annual annual prayer service event organised before celebrating one of the major religious festivals in Hinduism, called Divali where it brings in the Chief Priest and some artistes in India to pray and recite hymns.