India boosts Nigeria’s power supply with $174million – High Commissioner
Abuja, May 17, 2018 (AltAfrika)-The Indian High Commissioner to Nigeria, Mr. Shri Reddy, has said his country offered about $174.96million to boost power supply in Nigeria.
Reddy disclosed this on Wednesday at a workshop organised by All Indian Universities Alumni, in Abuja.
Reddy, who was represented by the Deputy High Commissioner, Mr Subhash Chand, said the government of India had already approved $60m ‘’Line of Credit’’ in respect of power projects in Kaduna, Cross River states respectively, while $40m in respect of Enugu state is currently being processed.
‘’I am also happy to inform you that during the recently concluded International Solar Alliance [ISA] Founding Conference and Solar Summit which took place on 11 March, 2018 in New Delhi, the Government of India has offered the following two solar projects [i] Solar PV Renewable Micro-Utility [REMU] in six political zones of Nigeria for amount of USD8.36million and [ii] 50MW Solar Power Plant in Bauchi State in Nigeria for an amount of USD 66.60million’’, he said.
On trade relations between Nigeria and India, the envoy disclosed that the value of India’s exports to Nigeria in 2016 stood at $1.74billion as against India’s imports of $7.41bn from Nigeria leaving the trade balance of $5.74bn
He said India fully supported Nigeria’s Economic Recovery and Growth Plan with predominant focus on promoting agriculture and allied sectors as part of building a globally competitive economy.
Earlier in his welcome address, the President-General of All Indian Universities Alumni, Chief Charles Robin Njoku urged the federal government to focus more on the Small and Medium Enterprises sector.
‘’The contribution of Micro, Small and Medium Enterprises [MSMEs] is quite significant in employment generation, industrial production and exports. Small scale industries have the advantage of labour intensiveness, low cost technology, low investment and short gestation period’’, he said.
He said the relationship between Nigeria and India would no doubt be of immense benefit and would ensure greater experience sharing among the two nations.