Nigeria Fosters New Relationship With India For LPG Manufacturing Companies

Nigeria Fosters New Relationship With India For LPG Manufacturing Companies

Nigeria is nurturing a new alliance with India, for boosting modular refinery projects, in addition to building up Liquefied Petroleum Gas(LPG) or cooking gas cylinder manufacturing companies.

Hailing India’s strength in these areas, the Nigerian Content Development and Monitoring Board (NCDMB), has negotiated the deal on behalf of government. With the aim of leveraging on India’s advancement in Information and Communication Technology (ICT), NCDMB has begun to partner the Indian Government and its relevant institutions to develop the Nigerian fuel industry’s capabilities for research and innovation.

The Executive Secretary NCDMB, Engr. Simbi Wabote along with selected senior officials of the Board met with the Indian High Commissioner to Nigeria, His Excellency, BNReddy. They discussed the Board’s plans to engage the Indian Institute of Technology (IIT), the Indian Chamber of Commerce and a host of other institutions.

The trade relations between India and Nigeria specifically in the supply of crude oil and Liquefied Natural Gas (LNG) was emphasized during the meeting. 10 percent of India’s crude oil needs are supplied by Nigeria.ICT, manufacturing and processing of hydrocarbons are areas where the countries can work to deepen the bond. The Board is always on the lookout for means to push the boundaries of Local Content practice, particularly in key sectors of the economy that are linked to the fuel industry and have the capacity to create multiplicity of jobs for Nigerians.

Wabote said that “the way India has grown its technology companies is of interest to the Board” and they would like to collaborate with Indian institutions, exchange ideas so that they could replicate these achievements in their Research and Development journey.

Fostering collaborations between Nigerian manufacturing firms and their Indian counterparts was also focused on during the discussion to domesticate the fabrication of modular refineries. Investors from the South Asian country were hoped to be allured by the Board to establish LPG cylinder manufacturing factories in Nigeria besides participating in the Nigerian Oil and Gas Parks Scheme (NOGAPS).

The High Commissioner, BNReddy stated that India has the highest rate of start-ups in the world. It was through a program called ‘Start-up India that the feat was achieved. Pointing out that the IIT had trained many Indians and impacted their nation’s economy significantly, he promised to facilitate the Board’s engagements with the Indian institutions and advised the Board to engage the Indian Chamber of Commerce, which has cluster companies with specialty in ICT and R&D, an area NCDMB is keen to chase. Source: Oriental News PWKD08082018

Last modified onWednesday, 08 August 2018 09:43
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