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Trade ties between India, Nigeria, others below potential, says Adebayo


Minister of Industry, Trade and Investment, Otunba Niyi AdebayoPHOTO: TwitterThe Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, yesterday, lamented that African countries have not realised their true potential in bilateral trade with India.
In his address at the 16th CII-EXIM Bank Conclave on India and Africa Project Partnership with the theme: “Harnessing the Africa-India Opportunity: Connect, Create, Collaborate”, the Minister said despite the fact that India is Africa’s third-largest trading partner, African countries predominantly export raw crude oil and other extractive resources to the Asian country.
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He said: “As you may be aware, India is now Africa’s third-largest trading partner. Yet the bilateral trade data and patterns suggest the true potentials have not yet been realised as African countries predominantly export raw crude oil and other extractive resources to India. ....

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India committed to support Africa's energy transition through deployment of clean energy technologies: EAM