Shri Vellamvelly Muraleedharan, Indian Minister of State for External Affairs, reveals that Indian investments in Nigeria amounted to $20 billion. Around 135 Indian companies are said to have invested in the country.

At the inaugural session of the Nigeria-India Business Council (NIBC) in Abuja, Muraleedharan said that the preferred investment destination for Indian businesses is Nigeria. According to him, India's high-level multi-sectoral trade delegation was ready to collaborate in different sectors of the country.

“Nigeria's large and growing population, its talented youth, its abundance of natural resources, a democratic and business-friendly government, and very cultural ties strong between our peoples have all fuelled the growing economic engagement between the two countries. But there is still great potential to strengthen our economic cooperation and, with the pandemic behind us, both countries must vigorously seek to make up for the opportunities lost over the past two years,” Muraleedharan emphasized.