The Minister of Communications, Adebayo Shittu, on Monday said some Indian investors have indicated interest to invest about $4billlion in Nigeria’s manufacturing sector.
Shittu, who disclosed this during a press conference to announce the 4th Indo-Africa ICT Expo 2018 in Abuja, said the Indian investors made the promise last year at an investment forum in Switzerland.
The event is scheduled to hold on May 22-23, 2018 in Lagos.
“When I went to Switzerland last year, I met with some Indian investors who promised to invest at least $4billion on manufacturing industries in Nigeria’’, the minister said.
He said apart from the Indian investors, many foreign investors had also shown interests in investing in the country as Nigeria’s population is a great opportunity for them.
Shittu, therefore, assured Indian investors of many untapped resources and a huge potential market in Nigeria.
“We are looking to create a viable environment for increased investment in network infrastructure, partnerships, and increased availability of spectrum for mobile broadband in the knowledge that these will further drive growth,” he said.
Speaking on the expo, the minister said the two-day event would provide immense opportunities for Nigeria’s start-ups, entrepreneurs and businesses to form partnerships with their foreign counterparts as well as pitch their innovative creations for public/commercial acceptance.
He reiterated the government’s readiness to patronize made-in Nigeria goods to stimulate the economy.
Speaking earlier, the Indian High Commissioner to Nigeria, Mr Shri Reddy said the event was expected to bring together over 300 companies/delegates from India and Africa as well as attract over 3,000 visitors for the exhibition.
The expo would serve as a platform to bring together thought-leaders across the entire ICT value chain to discuss solutions to regulatory issues and business, the envoy said.
“This mega event encapsulates strategies and learning that transcend the two most important present-day industries having potential of unlocking huge demand of ICT services across multiple domains,” he added.
