Nigeria and India have signed a cooperation agreement on renewable energy to boost trade and investment, expand economic relations and strengthen bilateral ties.
Indications to this development emerged on Monday when Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar hosted the Minister of External Affairs of India, Ambassador Subrahmanyam Jaishankar during the Sixth Nigeria – India Joint Commission in Abuja on Monday.
The Commission reviewed the decisions of the 5th Joint Commission as well as the entire scope of bilateral relations between the two countries as both Ministers emphasised the significance of the Sixth Session with the aim of expanding economic interaction.
The Memorandum of Understanding of Cooperation on Renewable Energy will be the hub of future discussions especially as India will host the Seventh Edition of the joint commission.
Addressing a joint press conference after signing the MoU, Ambassador Tuggar pointed out that the relationship between the two countries will continue to grow stronger.
He said that Jaishanka had earlier visited Lagos where he held fruitful sessions with the India-Nigeria Business Forum and addressed the Nigerian Institute of International Affairs (NIIA) in Lagos on India and the Global South.
He said “We had very fruitful deliberations at the 6th Joint Commission between Nigeria and India. Several issues were discussed as regards different sectors ranging from economy, trade, consular issues, culture and aviation. I have to say that the meeting was very fruitful and rich.
“You know that Nigeria and India have a lot in common, we are two largest democracies on the continent of Africa and Asia, we are the most populous and we have a strong bond and we have been friends for a long time, our relationship will continue to grow stronger”.
In his remarks Jaishankar acknowledged Nigeria as an important business partner of India, adding that both nations have a long-standing and friendly relationship and share common aspects of history.
“We have about 130 Indian companies that have really put their economic future, struck roots in this country, to a point where they have actually become one of the largest employers in this country.
“One of the agreements we signed was on solar energy. We will see cooperation on green and clean growth. Secondly, Nigeria and India both face health challenges. How do we make medicines and health facilities affordable and accessible? There will be new things happening in the relationship. They will take into account new technologies and new capabilities between our two countries. It is a very forward-looking relationship that we envisage,” he said.
