Nigeria-India trade volume hits $17 billion -Envoy

India’s Acting High Commissioner in Nigeria, Kaisar Alam, on Sunday said the trade volume between Nigeria and India reached $17 billion from April 2013 to March 2014.

He told the News Agency of Nigeria in Abuja that India imported $14 billion worth of goods from Nigeria during the year while Nigeria imported $3 billion worth of goods from India in the same period.

Mr. Alam explained that India was currently the largest importer of Nigeria’s crude oil, importing $12 billion worth of the product in the year under review.

“India imported $14 billion worth of goods from Nigeria from April 2013 to March 2014, including $12 billion worth of crude oil,’’ he said.

He also explained that with the reduction of U.S. import of Nigeria’s crude oil, India was currently Nigeria’s largest trading partner.

According to him, a large number of Indian companies and businesses have footprints in Nigeria, which have made substantial investments in Nigeria.

The envoy explained that the increasing trade relations between the two countries would boost trade volume in 2014-2015 fiscal year.

He said that the relations between the two countries had always been friendly, noting that “Nigeria is a very important country to India.”

He expressed optimism that the bilateral relations between Nigeria and India would improve significantly in the current year.
(NAN)

Advertisements

Support PREMIUM TIMES' journalism of integrity and credibility

 

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.