STRONGEST ECONOMIC AND INVESTMENT MOMENTUM EXPECTED IN 2023

Rising demand from developing countries and industrial transformation for a smooth supply chain management across countries in the Middle East & North Africa is expected to carry the most dynamic economy and investment across diversified sectors in 2023. Investors continue to part ways with investment in China which brings favorable opportunities to another rising Asian economic powerhouse “India” which is offering growth drivers with digital infrastructure, suitable ecosystem, and open access to the global market. Mining & gas projects are leading the way with a positive outlook of Foreign Direct Investment flow for 2023 into Africa. Attractive foreign direct investment, with trends in commercial and state investment, will make the ASEAN region remain one of the fastest-growing regions of the world in 2023. Europe continues to face momentous challenges in the form of rising energy prices, squeezed household expenses, rising manufacturing costs, increased inflation, disruptions to international transport, & an intensifying global food crisis due to ongoing conflict between Russia, Ukraine & post-Brexit adjustments that are downgrading FDI figures.

Trade

The bilateral trade between India & Nigeria has been growing steadily and reached USD 14.95 billion for the year 2021-22. India-Nigeria economic cooperation is flourishing with Nigeria becoming India’s largest trading partner in West Africa. India exports most of its goods to Nigeria such as automobile accessories, pharmaceuticals, machinery, mechanical equipment, electrical appliance, mineral fuels & oils, organic chemical, apparel, textiles, etc. India imported oil worth USD 10 billion from Nigeria. India imports mineral fuels, oils, distillation products, Edible fruits, nuts, coffee, tea, mate, spices, wood, lead, aluminium, etc. from Nigeria.

FOREIGN DIRECT INVESTMENT

India is one of the largest investors in Nigeria with more than 135 Indian companies operating to enhance development & growth across diversified sectors of pharmaceuticals, automotive, electrical & electronics, telecommunication, chemicals, etc. It is estimated that India has an investment of approximately USD 19.3 billion in Nigeria. India’s investment in Nigeria is guided by the availability of resources & ease of access to the market. Foreign Direct Investment from India to Nigeria is mainly into Oil, Mining, Gas & primary commodities. Greenfield investments & joint ventures from Indian companies have contributed to the creation of new production capacity, employment generation, technology transfer, etc. in Nigeria.

GOVERNMENT

India & Nigeria share a long history of partnership that is guided by solidarity & political affinity. This goes back to the period of the early 19th century when both countries were colonized by British rule and were fighting oppression. In 1958, India established its first Diplomatic House in Lagos, and since then the bilateral ties between both nations have been strengthened & nurtured, and engagement has developed both on the commercial as well as cultural front.

CRESCENDO WORLDWIDE SUPPORT

FOR TRADE & INVESTMENT

Vishal Jadhav (Founder & Managing Director at Crescendo Worldwide) visited Nigeria to discuss growth opportunities for Trade & Investment Cooperation with officials of the Nigerian Investment Promotion Commission (NIPC). Crescendo Worldwide & Enyimba Economic City Development (EECD) will closely work with NIPC to attract & facilitate FDI from India. NIPC will also cooperate & support Indian investors associated with Crescendo Worldwide for FDI facilitation.

INVESTOR B2B

MEETINGS

Crescendo Worldwide connects you with potential investor companies seeking an ideal business expansion destination and supports customer acquisition, market placement, and brand building, and establishes credibility globally. The FDI team of Crescendo Worldwide organizes investor meetings as per the requirement of the agencies in each target city of the focused country in each span of time. Investor meetings can be in a series of visits to different regions of the focus country and conducting maximum meetings during the visit with investors. The number of visitors and days of visit of the agency are finalized as per the requirement of the agency

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