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Nigeria seeks $ 15 billion Indian investment: Opportunity there?
Nov 17: When the Nigerian Energy Minister Dr Emmanuel Ibe Katchikwu came calling on New Delhi in October, 2016, he sought an investment of a massive $ 15 billion for Indian companies in the Nigerian refining sector, oil and gas marketing sector, upstream sector, development of gas infrastructure and training of oil and gas personnel.
8Nigeria is currently the largest trading partner of India in Africa, and India is the largest trading partner of Nigeria globally.
8Bilateral trade is dominated by trade in crude oil. In 2015-16, India imported over 23.7 MMTA of crude from Nigeria, equal to nearly 11.7% of India’s total requirement. India also imported 2 MMTPA LNG from Nigeria in 2015.
8But Nigeria is not an easy place to do business in.
8Nevertheless, it may be worth the while of business development managers to look out for opportunities in Nigeria.
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