The Federal Government has expressed readiness for stronger collaborations with the government of India on the area of rich maritime heritage to boost investments in the Nigerian blue economy.
Minister of Marine and Blue Economy, Adegboyega Oyetola, stated this while speaking at the Nigeria, India Business Forum, put together by Nigeria-India Business Council (NIBC), in Abuja.
Oyetola, who spoke with optimism on immeasurable gains that will be derived from the forum, said: “I am particularly glad this forum has brought Nigeria and India together to collaborate and strategically plan on exploring investment opportunities in both countries.
“I am optimistic this forum will further strengthen the bilateral ties between the two countries thereby increasing foreign direct investment, facilitate capacity/technology transfer and foster sustainable business partnerships between the government and private sectors of both countries.”
According to the minister, the business forum could not have come at a better time as the Federal Government is poised to harnessing the potential of the blue economy through public private partnership.
Oyetola said the Marine and Blue Economy Ministry expects to develop from the forum, closer economic cooperation in the areas of enhancing port infrastructure/operations in the construction of deep-sea ports and ship repair yards; promotion of blue economy investments through the creation of residential/ancillary facilities at the ports; development of tourism facilities; creation of export processing terminals for agro exports; and provision of inland waterways passenger transport and tourist cruise services.
Minister of Industry, Trade and Investment, Doris Uzoka-Anite, in her remarks, said: “Today’s forum is a testament to the progress made upon the foundations laid by President Bola Tinubu, during a presidential roundtable in New Delhi, India, on the sidelines of the G20 Summit. That pivotal meeting saw Indian investors pledge an impressive total of almost $14 billion worth of investment into Nigeria’s economy.
“I would like to commend the efforts of both countries in concluding the sixth session of the Nigeria-India Joint Commission Meeting on Monday, January 22, 2024,” the minister said.
She disclosed Nigeria is home to approximately 150 Indian companies, many of which are strong household names in the country, including Bharti Airtel, Tata, Stallion Motors, Churchgate, and Indorama as part of the Indian companies operating in Nigeria.
Also, Minister of External Affairs, Republic of India, S. Jaishankar, spoke on the essence of government, saying it is the primary responsibility of any government to improve the enabling environment, look at the challenges, place such on the table for discussions and approach identified challenges with practical and constructive solutions.
The minister assured the Nigeria business community that India can be the support and fulcrum for Nigeria in aspects of sharing technology, digital public infrastructure, agricultural sustainability, security and the blue economy.
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“Proof of our commitment to fostering of ties and cooperation with Nigeria,” Jaishankar said, “is indicative in the 200 development projects of the Indian government across Nigeria.”
He said India extends its hands of alliance to Nigeria and Africa.
Jaishankar also spoke of the honour of meeting with the Minister of Marine and Blue Economy, noting that such relationships will build more linkages that will foster relationships between both countries.
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