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India exports to Nigeria now $2.66 billion

The Indian High Commission has said India's exports to Nigeria hit $2.66 billion about N529.4 billion in 2013 -14, from $1.08 billion, about N214.9 billion in 2007 -08, ITRealms reports.

This was made known in a press release by the Indian High Commission in Nigeria while announcing a show organized by the commission in association with the Confederation of Indian Industry (CII) from August 25 to 27 to showcase Indian expertise and also to promote "Brand India".

"During 2013-14, India's imports, mainly consisting of petroleum and crude products, stood at $14.31 billion about N2.84trillion as against $13.82 billion about N2.75 trillion in 2012-13," it added.

The information said about 50 Indian companies, including Godrej, Airtel and Kirloskar are among companies billed to take part in the show, adding that the companies will showcase their expertise in agriculture, farm and construction equipment, electricity, infrastructure, roads, highways and ports, automobiles, auto components, and information and communications technology among others.

Another 15 Indian companies, ITRealms gathered, are currently operating in Nigeria's power sector. Pharmaceuticals, steel and power transmission are also dominated by Indian companies. The high commission said "over a hundred companies are currently operating in Nigeria that are owned and/or operated by Indian or Persons of Indian origin".

The organizers said the show was being held in Nigeria, as the country with a population of 175 million was "a political and economic powerhouse" in Africa. The high commission said, adding that "over a hundred companies are currently operating in Nigeria that are owned and/or operated by Indian or Persons of Indian origin".

The Bisiness Standard quoting  the commission, said other companies  to take part in the show include  Bharti Airtel, Indorama, Olam International (now Singapore registered), Tata, Bajaj Auto Birla Group, Mahindra and Mahindra, Ashok Leyland, NIIT, ApTech, New India Assurance, Bhushan Steel, and Dabur.

Cyriacus Nnaji/GEE/ED,OPs

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