…To invest additional $74.96m on solar power projects in 6 regions and Bauchi
GODFREY OFURUM
Aba
The Government of India says it fully supports Nigeria’s economic recovery and growth plan with predominant focus of building a globally competitive economy.
Shri B.N. Reddy, India’s high commissioner to Nigeria, made this known, Saturday, in Aba, the commercial hub of Abia State, at a Symposium and Cultural Fiesta, organised by Indian Universities Alumni Association, Aba area chapter.
Represented by Subhash Chand, India’s deputy high commissioner to Nigeria, Reddy explained that India has offered line of credit of $100 million to Nigeria for three power projects in 2016, stressing that his home country has already approved $60 million in respect of Kaduna and Cross River States power projects, while that of Enugu, which will cost $40 million is being processed.
He stated also that India has offered to construct solar power plants (Solar PV Renewable Micro-Utility (REMU)) in six geopolitical zones of Nigeria, at the cost of $8.36 million and 50 mw solar power plant, in Bauchi at a cost of $66.60 million.
He explained that the decision was a fallout from the recently concluded International conference and Solar Summit, which took place in March 11, 2018 in New Delhi.
The Indian High Commissioner stated that India-Nigeria trade and commercial relations has remained steady, despite the year-and-a-half long recession in Nigeria.
India is the largest trading partner of Nigeria and Nigeria is India’s largest trading partner in Africa. India-owned or operated companies in Nigeria are estimated to be one of the largest employers in Nigeria.
India’s export to Nigeria in 2016 stood at $1.74 billion, as against India’s import of $7.41billion from Nigeria, leaving the trade balance of $5.74 in Nigeria’s favour.
Reddy observed that there were signs of improvement in trade figures between the two countries in 2017 with considerable potential for diversifying the trade basket.
He also affirmed that Nigeria’s President Muhammad Buhari’s visit to India in October 2015 and the visit of the vice president of India to Nigeria in September, 2016 have further strengthened the bonds of friendship between the two countries.
The Indian Universities Alumni Association (IUAA), Aba Area Chapter, an association of Indian trained graduates, said they organised the programme to share ideas on issues that would deepen Indo/Nigeria relationship.
Ben Egwuonwu, president, IUAA, in an interview with BusinessDay, explained that they used the event to also draw the attention the Indian High commissioner for the need to develop a cultural, educational and language centre in Aba.
According to him, the Indian government with their support and some businessmen here, “along with our initiative, can create a centre in Aba, so that anybody in Aba, or any other part of the South-East or South-South regions of Nigeria that needs information on India, can easily get such information within the region, without traveling to Abuja.
He also explained that the event provided an opportunity for the Abia State Government to showcase its policies at attracting fresh investments and improving commerce in the State.
He itemised such programmes of government, to include Governor Okezie Ikpeazu’s plan to dredge the Azumili Blue River, in Ukwa East Local Government Area, which is about 40 nautical miles to the Atlantic Ocean, establishment of a free trade zone in Ukwa, close to Port Harcourt and the expansion of Aba metropolis to greater Aba”.
Egwuonwu, observed that the expansion of Aba would attract fresh investments , stressing that Aba is the heart-beat of Abia and the South-East Region of Nigeria.
Some of the topics discussed at the symposium include “Commerce and industry as tool for consolidating Indo-Nigeria relationship, Indian small and medium scale enterprises, a revolutionary path to Nigeria’s sustainable development and growth and education and cultural exchanges, a sin qua non for diversification and deepening Indo-Nigeria relationship”.
The event attracted Indian Alumni from the entire South-East/South-South regions of Nigeria and Abuja, the nation’s capital.
