Middle East & Asia News

Indian High Commissioner to Nigeria, Abhay Thakur yesterday disclosed that Nigeria has the opportunity to explore $5billion line of credit from India, with low interest rate. According to Punch, he made the disclosure during a visit to the minister of communication, Adebayo Shittu in Abuja.

Thakur noted that the credit line, which has a low interest rate of 1.75% is the untilised 50% out of the $10billion made available to Africa by India during the India - Africa Forum Summit.

The High Commissioner further said the credit line offer was a step by India to enhance the existing bilateral agreement between the two countries in areas of Information and Communication Technology, human capacity development, industrialisation, and e-government.

While responding, Shittu appreciated the high commissioner, saying India was one of the most outstanding countries Nigeria has partnered with.

He implored Thakur to encourage Indian investors establish a 5G village in Nigeria and partner with stakeholders to build the proposed ICT Park, at the Free Trade Zone in Abuja, which would enhance the elegance of the city and the country at large.