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Remarks by EAM, Dr. S. Jaishankar at the India- Nigeria Business Forum in Abuja (January 22, 2024)

January 23, 2024

I had a brief business discussion yesterday evening as well in Lagos, and it actually drove home to me what I had already read in my briefing books, which is, we have to keep finding ways of improving the enabling climate. It is clear that there are some banking challenges, there are payment issues, there could be some travel concerns. In many cases we have started something but not necessarily brought it to fruition. There are regulatory challenges, if we took a mutually helpful approach which is, in a way the CII and our businesses help to solve problems of our Nigerian partners in India and they in turn open more doors for us in Nigeria. I think a lot is possible.

So immediately after this, I'm preparing to go to the Foreign Ministry for a meeting with my counterpart Minister Tuggar and also for the session of the Joint Commission. I will be joined by colleagues from other departments of the government as well. And the picture that we present is really one where our political leadership wants to take this up. That was a very clear message that we heard from President Tinubu, when he came to India last year. And it's a message which is a sentiment that Prime Minister Modi very strongly reciprocates.

So, we will continue to push the system, motivate business, address whatever are the obstacles, also facilitate and look for new opportunities. Because there is a lot where the changes in each country, if we could harness those as business opportunities; and a very good example is in the digital field, it is in the digital field, it could be in the field of green and clean energy as well. I think there's a lot of interest in agriculture. I would like to share with our Nigerian friends, we have done some really solid work in water, in the distribution of water and distribution of power on actually a tremendous scale in the last decade.

So, a lot of our learnings and our experiences, we would like to bring to bay here. We would certainly go through that exercise to ascertain which would be relevant, where would the business come out of it. And I do want in turn to assure Nigerian business that those two opportunities in India too are very open. We do see…I mean if today, I were to say if there are some big geopolitical bets that India is taking, one of the bets is on the rise of Africa. That we are betting that in the next decade we're going to see an amazing transformation here. So, whether it is opening new embassies, encouraging more trade and investment interactions, creating more opportunities for political contacts, getting the systems really to know each other more, that is very much our objective because we do want to start strengthening our relationship with Africa, not in the future but really from yesterday.

So, once again thank you for this brief opportunity to share some thoughts and I hope I've been able to add some more enthusiasm for the discussions which will be coming.

Again thank you very much.



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