India’s High Commissioner to Nigeria, Ajjampur Ghanashyam, has said that Nigeria was India’s biggest trading partner in Africa.
Ghanashyam who made the disclosure when he visited the Nigerian Stock Exchange (NSE) in Lagos,said bilateral trade between Nigeria and India were mostly in the area of stock transactions “because the stock market is critical to the economic growth of any country.”
The envoy said India had been in trade relation with Nigeria for more than 40 years, stressing that the partnership had been rewarding to India.
He added that “our trade relations with Nigeria had been favourable, though we experienced periods of challenges during which we burnt our fingers and incurred losses.
“But today, Nigeria has become India’s biggest trade partner among African countries. We believe that more business opportunities will be opened between the two countries to strengthen our bilateral trade.”
He urged Nigeria to develop the Exchange’s trading platforms to become the biggest trading country in the world.
Samuel Ndanta, the Doyen of the Market, assured the high commissioner of the stock market’s readiness to continue to partner with India.
According to him, it is the collective support of local and foreign investors like India that will help to grow the exchange and the Nigerian economy at large.
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