Nigeria can explore $5bn line of credit with low interest rate from India, the Indian High Commissioner to Nigeria, Abhay Thakur, has said.

Thakur made the disclosure when he visited the Minister of Communications, Adebayo Shittu, according to a statement made available to our correspondent in Abuja on Monday.

He said that the Prime Minister of India made available to Africa $10bn credit line during India – Africa Forum Summit out of which only fifty per cent had been utilised.

The Indian envoy added that Nigeria had the opportunity to explore the credit line which had an interest rate of only 1.75 per cent.

“This is a good facility which to my knowledge half of it has just been utilised and for Nigeria, we can enhance our areas of collaboration,” the envoy said.

Thakur said India was making moves to upgrade the bilateral agreement existing between both countries in the areas of human capacity development, e-government, industrialisation and Information and Communications Technology.

Responding, Shittu said India was one of the best countries Nigeria had enjoyed a relationship with in terms of partnership.

Shittu said, “In the area of bilateral agreement, we can raise a team to work on crucial areas and look at the details and appraise what we can do on low hanging fruit that would be beneficial to both countries.

“A lot of Indian companies had often indicated interest to invest in Nigeria by way of establishing industries but rarely translate such into action, hence, the need to encourage them to translate such interest into reality.”

The minister called on the envoy to encourage India investors to establish a 5G village in Nigeria and also partner with stakeholders in building the proposed ICT Park in Abuja which is expected to be located in a free trade zone that would add beauty and elegance to the country as well as boost revenue base of the investors.


https://gidient9ja.com/india-offers-nigeria-5bn-line-of-credit/

The one that will end in private pockets ni?


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ANOTHER MORTGAGING OF NIGERIA FUTURE AGAIN


BUHARAIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII,WHY?

When one of the world's poorest country starts loaning you money , it means you're finished completely.

Buhari has succeded in ruining the economy of Nigeria so bad that A POVERTY STRICKEN COUNTRY LIKE INDIA, took pity on Nigeria by offering her a credit life line .

Even India that was once the poorest country before Buhari overthrown them to that inglorious position, now dishes out loan to us?
Hmm there is hope for Zimbabwe, that before 2023 they will start giving us loan if this disaster of a president returns reelected.

Isokay

So Indians too are now begging us to come and borrow money, we need to step up our game as a country and become a lender to other countries not always borrower

Lol

Isa lie

Just look at... even india is offering to lend nigeria some money .

NaijaRoyalty:
When one of the world's poorest country starts loaning you money , it means your finished completely.

You called India "World Poorest Country"

Brother you need to consult Google

NaijaRoyalty:
When one of the world's poorest country starts loaning you money , it means your finished completely.

If i tell you that I’m not tired of this Country let thunder strike me

Even India

No problem after all, baba needs the money to buy millions of votes and has collected from China, Islamic bank, Nigerian people,and Europeans, so adding India to that list it's not a problem. After the election, he will increase fuel t and withdraw the dollars from CBNo pay back. Remember he promised more hardships after the elections

For india to start lending NigerIa money means this country is in big trouble.

NaijaRoyalty:
When one of the world's poorest country starts loaning you money , it means you're finished completely.

We no sabi who you give the money oo..
Our baba is lifeless..
Make quarrel 4 no start..

yinchar:

You called India "World Poorest Country"

Brother you need to consult Google

Og

yinchar:

You called India "World Poorest Country"

Brother you need to consult Google

Og

Oya Buhary, go for another loan

India wey no get toilet


Buhari will never go unpunished sha