FCT Minister woos Indian investors for Abuja development

The Minister of the Federal Capital Territory, FCT, Mr. Nyesom Wike, has appealed for significant investments from Indian investors to accelerate the development of the capital territory, Abuja.

Wike made this request during a visit from the Indian High Commissioner to Nigeria, Mr. Shri Balasubramanian, in Abuja on Tuesday. He recognized the presence of numerous Indian companies in Nigeria, particularly in sectors such as petrochemicals and fertilizers.

“We would also like to have this kind of relationship in Abuja. You have seen improvement in security; you have seen improvement in infrastructure in Abuja. That is part of the “Renewed Hope” agenda of President Bola Tinubu. We will discuss other areas that will be of mutual interest between India and Nigeria, and Abuja in particular,” he said.

FCT Minister woos Indian investors for Abuja development
FCT Minister woos Indian investors for Abuja development

The minister highlighted the FCT Administration’s responsibility to maintain a welcoming environment for all embassies in Nigeria, facilitating their operations. Ambassador Balasubramanian underscored the longstanding diplomatic ties between India and Nigeria, dating back to 1958, before Nigeria’s independence, when India established a diplomatic presence in Lagos.

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He said that there were over 155 Indian companies in Nigeria, with more than 27 billion dollars of investments in various manufacturing areas and companies ranged from plastics to steel, oil, and pharmaceuticals among others in every sector.

Indian companies are the second largest employer of labour after the Nigerian government, according to him.

“So that is the level of engagement that we have, including wonderful political relationships.

“Culturally, we also have excellent cooperation. We have been having various groups from Nigeria going to India to participate in different exhibitions and cultural activities.

“We are very happy with all the facilities that are being extended to our Embassy.

“We are more than happy about it and would like to continue the relationship”.


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