Having been the fourth largest source for India's imports of crude petroleum, Nigeria is now inviting companies to make more investments in the African country. Through the '3rd CII-Nigeria India Business & Investment Forum (NIBF2010)', which was held in Ahmedabad on Wednesday, the country is wooing Gujarat firms to set up units in Nigeria.
"Held every alternate year, the forum intends to renew relationship with India. We have good relations with South Africa, Brazil, Egypt and India and tend to work together. Through this forum, we want to invite Gujarat's business community to visit and invest in Nigeria," said Mustafa Bello, executive secretary, Nigeria Investment Promotion Commission (NIPC). The forum is organised by the two countries through Confederation of Indian Industries (CII) and NIPC.
Speaking at the forum, Yatindra Sharma, vice chairman, CII – Gujarat Council and joint managing director KHS Machinery Pvt. Ltd highlighted the rich and ancient relationship shared between the two countries especially with people of Gujarat. "We seek to increase business propositions under this realm which will thereby enlighten progress on worldwide basis," said Sharma.
Talking about the potential of investments, Bello said, "Nigerian government has created various means to improve the fiscal situation and to attract investment in the country. There are huge opportunities of investment in sectors like telecom, IT, mining, agriculture, pharmaceuticals, healthcare, and hospitality."
