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Nigeria, India to expand $12bn bilateral trade

botchway March 15, 2019


The Federal Government and the Government of India are working on ways to enhance the $12bn annual bilateral trade between both countries in a way that will focus on investment.
The Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, said the partnership had become imperative as a result of the economic potential of both countries.
A statement from the minister revealed that Enelamah spoke during a meeting with the Indian High Commissioner to Nigeria, Mr Shri Abhav Thakur, in his office.
He commended the level of relationship between Nigeria and India but said it had become necessary to expand it beyond trade for increased investment.
The minister welcomed the envoy’s interest in Project Made in Nigeria for Export, a new initiative by Nigeria to develop world-class special economic zones to position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa, and a major exporter of made in Nigeria goods and services regionally and globally.
Last month, the Federal Government signed investment agreements with three Development Finance Institutions: Afreximbank, Bank of Industry and the Nigeria Sovereign Investment Authority for the project.
Thakur, who expressed interest in the project, stated that Nigeria and India were important trade partners, noting that there was the need to grow the partnership.
Credit: punchng.com

Lagos Collapsed Building: 16 reported dead, 41 rescued
Rescue operation at the building that collapsed in Ita Faji area of Lagos Island on Wednesday has gotten to ground zero, an official has said.
Although the official casualty is yet to be announced, an official involved in the rescue operation told PREMIUM TIMES 16 people have died while 41 were rescued alive.
The General Manager of the Lagos Emergency Management Agency, LASEMA, Adesina Tiamiyu, said that the agency would end its rescue operations Thursday.
In disaster management, Ground Zero refers to the point of most severe destruction or damage.
PREMIUM TIMES reported how the building caved in Wednesday, killing scores of victims and injuring others.
On Thursday, residents claimed there are more people still trapped in the building as emergency officials intensified efforts to rescue more victims.
But Mr Tiamiyu said the rescue operations has reached the base of the destruction.
Apart from the victim said to have been rescued in the middle of the night, PREMIUM TIMES can report that no other victim of the building collapse was brought out from the debris Thursday morning.
“It is not yet official but operations have ended,” an official told PREMIUM TIMES around 10:16 a.m.
Credit: premiumtimesng.com

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