India To Invest Five Billion Dollars In Nigeria

President Buhari receives Indian Vice President Hon. Mohammad Hamid Ansari at the State House
President Buhari receives Indian Vice President Hon. Mohammad Hamid Ansari at the State House

President Muhammadu Buhari on Tuesday said Nigeria will continue to expand its relationship with India in the areas of health, education, agriculture, technology and trade.

Receiving the Indian Vice President, Mohammad Hamid Ansari, at the State House, President Buhari said Nigeria had over the years benefited from the cooperation of the Asian country in trade and investment, agriculture, technology and the fight against terrorism.

The President welcomed the proposed investment of 5 billion US dollars in the Nigerian economy by the business delegation that accompanied the Vice President, while noting that India had already invested 10 billion US dollars in the economy.

Indian-VP-Minister-Buhari-Osinbajo-CTV
President Buhari with Indian Vice President Hon. Mohammad Hamid Ansari flanked by Indian Minister of State for Finance Mr Gangaram Meghwal and Vice President Yemi Osinbajo at the State House.

President Buhari said Nigeria would emulate the Asian country’s agricultural model and capacity to feed its one billion population, and also export to other countries, describing the country as “sustainable and prosperous”.

The President noted that Nigeria would continue to support the reform of the United Nations Security Council, pointing out that it was unfair on the rest of the world for five countries to exercise the power of ‘‘yes or no’’ in the UN.

Indian-VP-Buhari-Osinbajo-CTV

In his remarks, the Indian Vice President said that his country, which is the leading buyer of Nigeria’s crude oil, will increase its purchase of the commodity in addition to natural gas.

According to him, the relationship between Nigeria and India is near perfect as both countries “have nothing to quarrel about”.

Foreign Investment: Presidency Defends China Trip

Foreign InvestmentSix billion US dollar is what the Presidency claims that Muhammadu Buhari’s trip to China has attracted as the Asian country appears to be the new bride in Nigeria’s foreign investment drive.

The President’s Media Adviser believes that the country hasn’t seen anything yet and more investments will flow in within the next few days.

Mr Femi Adesina was the guest of Channels Television programme, Sunday Politics, where he answered some of the questions raised by Nigerians concerning President Buhari’s recent trip to China.

“It is not like going to the market and then you come back home at the end of the day and they ask how much you have sold, because investments take time to yield but this trip to China has been particularly productive because it is a continuation of what has been started by the previous administration.

“Like it is said, government is a continuum, some of the things started by the Goodluck Jonathan administration have now been consummated by this administration through this trip.

“For example, we know China is well endowed in the area of infrastructure, while Nigeria today has plenty infrastructural deficit. So we have a lot to gain in the areas of power, agriculture, housing, railway, transportation generally and so many other areas,” he said.

 

Law Weekly Features Highlights Of International Bar Conference

This edition of Law Weekly examines a global perspective on combating terrorism while focusing on what the African Continent and Nigeria needs to get right to continue attracting foreign investment and patronage.

The programme also featured the International Bar Conference (IBA 2013) which held in Boston, Massachusetts in the United States of America.

The IBA is the largest yearly gathering of lawyers from all over the world and it is regarded as the global voice of the legal profession. The 2013 edition attracted 6000 international delegates from 120 countries.

On this episode of the program, we featured highlights of the conference as well as highlights from the African Regional Conference when the IBA came to Lagos.

Former United States Secretary of State, Madeleine Albright, delivered the keynote address at the opening ceremony of the conference. While Governor Babatunde Fashola, of Lagos State, was one of the speakers at the conference.

Jonathan vows to eradicate Boko Haram

President Goodluck Jonathan said on Thursday that insecurity in Nigeria is not as gloomy as it is painted and has called on the international community to assist the country with the latest technology to fight the insurgency by the Islamic fundamentalist, Boko Haram.

The president made this known while speaking at a joint press conference after holding bilateral talks with the German chancellor, Angela Merkel at the Chancery in Berlin.

He noted that what is needed now is a stable political environment for investment and added that Nigeria can boast of having embraced democracy with a smooth conduct of the general elections.

The president, on a visit to Germany centered on strengthening economic ties, offered assurances that his government “is working very hard and that we’ll bring this under control.”

Mr Jonathan said that Nigeria could envision foreign help with “training our manpower” and providing technology to monitor terrorists.

Asked what kind of assistance Germany could provide, he said “In areas of training manpower and modern equipment… You need superior technology to fight terrorists and we think Germany and others can help us in such areas.”

He arrived office of the German chancellor at about 11.45AM to a full official reception by a detachment of the German military at the Chancery.

The president had earlier in the morning had a breakfast meeting with the German businessmen, where some of them have been doing business in Nigeria in the past fifty years.

“I can assure the global community, especially investors from Germany, that the government is working very hard to bring this problem under control,” Jonathan said.

“Nigeria is still safe for investment. Nigeria is one country where… investment returns are quite high and where we believe in the rule of law.” With 70 percent of the population below the age of 35, Nigeria offers a vibrant market for investors, he added.

At one of the meetings the president signed a memorandum of understanding with German company, Siemens on how to bring a lasting solution to the nation’s power problems.