India’s Vice President, Mohammad Ansari, is currently in Nigeria on a state visit and has revealed the plans of the country to assist Nigeria’s economy, specifically highlighting 2 areas. He mentioned this at the State House, Abuja, where he met with President Buhari.
The first area he promised that the Indian Government would help Nigeria is by increasing the volume of crude oil purchased by India from Nigeria. This would lead to higher crude oil sales and revenue for Nigeria, who currently depends on crude oil sales for funding the majority of its revenue and is now suffering from the global oil glut.
Secondly, Ansari promised Indian investment of over $5 billion into the Nigerian economy. If this happens, it would further stimulate an economy that is currently contracting and is in recession. Ansari said that India was ready to assist in these areas due to their peaceful relationship with Nigeria.
While responding, President Buhari said that the plan to assist Nigeria is laudable and a welcome development, while indicating that Nigeria would do its best to imitate India’s agricultural practices that currently feeds over a billion people.
Parts of this article originally appeared in Punch Newspapers