President Buhari welcomes $5bn investment from India

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President Muhammadu Buhari on Tuesday in Abuja welcomed the proposed investment of five billion dollars in the Nigerian economy by the vising Indian business delegation led by the Indian Vice-President Hamid Ansari.

The president made this known in a statement issued by his Senior Special Assistant on Media and Publicity, Malam Garba Shehu.

Shehu stated that the president was speaking when he received the Indian Vice-President, Hamid Ansari, at the State House, Abuja.

In the statement, President Buhari noted that India had already invested 10 billion dollars in the economy.

He said Nigeria would continue to deepen its relationship with India in the areas of health, education, agriculture, technology and trade.

The president said Nigeria had over the years benefited from the cooperation of the Asian country in trade and investment, agriculture, technology and the fight against terrorism.

According to him, Nigeria will emulate the Asian country’s agricultural model and capacity to feed its one billion population, and also export to other countries, describing the country as “sustainable and prosperous’’.

President Buhari noted that Nigeria would continue to support the reform of the United Nations Security Council, pointing out that it was unfair on the rest of the world for five countries to exercise power of ‘‘yes or no’’ in the UN.

In his remarks, the Indian Vice-President said his country, which was the leading buyer of Nigeria’s crude oil, would increase its purchase of the commodity in addition to natural gas.

According to him, the relationship between Nigeria and India is near perfect as both countries ‘‘have nothing to quarrel about’’.⁠⁠⁠⁠

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