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Nigeria: More Indian Investors in Nigeria Agribusiness


India promises to woo investors to Nigeria’s agricultural business

The Associated Chambers of Commerce of India (ASSOCHAM) said it would collaborate with the Nigerian Government to woo investors to invest in agriculture and other allied sectors of Nigeria’s economy.

Mr Edwin Devakumar, Chairman of ASSOCHAM India-Nigeria chapter, announced this to the News Agency of Nigeria (NAN) in Abuja.

He made this known at the side line of business event titled: “Nigeria-India cooperation in agriculture and allied sectors, opportunities and way forward.’’

Devakumar said ASSOCHAM had signed MoU with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to encourage investors from India to invest in agriculture in Nigeria.

He said this would promote business investment in Nigeria and also fill the lapses in agriculture and other allied sectors.

He said that ASSOCHAM had also launched a website recently where investors in Nigeria and India could be linked, interacted and tap business opportunities.

“It is a website where Nigeria and India chambers can speak with one voice; where they can use as means to encourage Indians to invest in Nigeria agriculture, ICT and Housing sectors,’’ he said.

At the event, Mr Yashpal Jain, Triton Group on Aquaculture and Poultry in Nigeria, said in spite of 1.3 billion population of India, the youth created job opportunities for themselves through agro sectors, among others.

According to Jain, India produces 3.8 million broilers (chicken) per year, and it is the largest producers of eggs in the World.

He said that Indian Government resisted importation of chicken and fish, as Indians reared large quantity of fishes every year.

According to him, Nigeria is currently producing 1.12 million fishes annually; this is mainly done by artisanal fishery.

He urged Nigeria to encourage its youths to invest in agriculture business to meet the demands of its 170 million population.