India’s Acting High Commissioner in Nigeria Kaisar Alam on Sunday said the
trade volume between Nigeria and India reached 17 billion dollars from
April 2013 to March 2014.
He said in Abuja that India imported 14 billion-dollar worth of goods from
Nigeria during the year while Nigeria imported three billion-dollar
worth of goods from India in the same period.
Alam explained that India was currently the largest importer of
Nigeria’s crude oil, importing 12 billion-dollar worth of the product in
the year under review.
“India imported 14 billion-dollar worth of goods from Nigeria from
April 2013 to March 2014, including 12 billion-dollar 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 the optimism that the bilateral relations between
Nigeria and India would improve significantly in the current year.(NAN)
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