Thursday, 29 October 2015

President Buhari Meets Indian Prime Minister, Modi

credit: Femi Adesina
President Buhari at a bilateral Meeting with India Prime Minister Narendra Modi at the Hyderabad House in New Delhi India during his 4 days official visit to New Delhi India to attend the 3rd India-Africa Forum Summit on 28th Oct 2015.

As India looks to correct the trade imbalance between Nigeria and itself by negotiating cheaper price for Nigerian crude after the Dezeani fiasco, the current security challenges being faced by the country will provide an ample opportunity to discuss ways to move past the Madueke era and hopefully, both countries will feel they got screwed after leaving the negotiation table.  

Currently, Nigeria is India’s biggest trading partner in Africa and India is Nigeria’s biggest partner overall. In 2014, Nigerian exports to India was about $15.66 billion, all of which was crude oil, while India exported only $2.88 billion in goods to Nigeria. If we add Nigerian medical tourist and international students, that number might reach the $3 billion mark. 

godspeed Mr. President.

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