360° Coverage : New oil-rich Nigerian province seeks Indian investments

9 Updates

New oil-rich Nigerian province seeks Indian investments

Dec 9 2013, 12:18am CST | by IANS

Addis Ababa, Dec 9 (IANS) A newly created Nigerian province that contains 40 percent of the country's known oil reserves has sought investments from India, primarily in the exploration and healthcare sectors.

Addis Ababa, Dec 9 — A newly created Nigerian province that contains 40 percent of the country's known oil reserves has sought investments from India, primarily in the exploration and healthcare...

Filed under: news

YouTube Videos

 
 
 

38 weeks ago

New oil-rich Nigerian province seeks Indian investments

Dec 9 2013, 12:18am CST | by IANS

Addis Ababa, Dec 9 (IANS) A newly created Nigerian province that contains 40 percent of the country's known oil reserves has sought investments from India, primarily in the exploration and healthcare sectors.

Addis Ababa, Dec 9 — A newly created Nigerian province that contains 40 percent of the country's known oil reserves has sought investments from India, primarily in the exploration and healthcare sectors.

"There are various opportunities in Bayelsa that are suitable for Indian companies and investors and we want them to invest," Governor Henry Seriake Dickson told IANS on the sidelines of the Economist African High Growth Markets Summit here.

"Synergy can also be created between Bayelsa and India so that both countries can tap the gas and energy resources that the state has to offer", Cyril Akika O, senior special adviser to the governor on investment, told IANS.

"They will have opportunities to own oil blocks that would produce crude and this could be taken to India to refine and sell", Akika O added.

Bayelsa, located in the Niger Delta region of southern Nigeria, was created in 1996 after splitting Rivers state. It is the country's largest oil producing state, contributing 40 percent of total crude production and 60 percent of gas. It has the nation's largest gas reserves, exceeding 18 trillion cubic feet.

The governor said that since India is a health hub and destination for people from many countries, including Nigeria, Bayelsa is looking for collaboration in world-class healthcare services.

"If Indian corporations and firms could work with us it would be an opportunity for both the countries since they have the specialties and we have large health-related projects like big hospitals", Dickson said.

The state has investment potential in agriculture, aquaculture, tourism and hospitality, minerals, fisheries, energy, maritime industry and shipping, light manufacturing and infrastructure.

The state is giving priority to the Bayelsa Integrated Security Strategy (BISS) to attract foreign investors."

"We acknowledge the need for a strong rule of law; so we're working on an alternative dispute resolution (ADR) system to match an efficient and independent judiciary" the governor said.

He also pointed out that Bayelsa quickly processes investment accreditation requests through an automated system to facilitate land titles within 60 days of their acquisition by investors."

"There are no Indian companies so far in our state and we have been working through the Indian high commissioner to Nigeria to bring investors . The efforts will hopefully be successful," Dickson said.

There are many Indian investors in Nigeria in various sectors, including telecom, plastics manufacturing, toothpaste and palm oil production, the governor's advisor said.

With a population of 158 million and considerable revenue from oil exports, Nigeria is the largest trading partner of India in Africa, with bilateral trade touching $17 billion in 2011-12.

The Indian community in Nigeria is estimated to be 35,000-strong. Most Indians in the country are well off and enjoy a non-controversial existence.

(Hadra Ahmed can be contacted at hadraahmed@gmail.com)

IANS

Source: IANS

 
Update
9

5 days ago

‘Taxes Really Do Matter’: Whopper of a Lesson From Burger King’s Move

Aug 27 2014 9:02am CDT | Source: Canada Free Press

Following Burger King’s example, more companies will aim to move their headquarters to other countries if the United States doesn’t lower — or eliminate — the corporate tax rate, a prominent ec ...
Source: Canada Free Press   Full article at: Canada Free Press
 

 
Update
8

3 weeks ago

Do Trade Sanctions Work? One Economist Tackles a Question for our Time

Aug 11 2014 10:50am CDT | Source: IBTimes UK

A new study shows that non-oil exports in Iran were deflected rather than los ...
Source: IBTimes UK   Full article at: IBTimes UK
 

 
Update
7

3 weeks ago

China Growth Boom to Last Another 20 Years

Aug 11 2014 3:00am CDT | Source: IBTimes UK

Former World Bank chief economist says China growth could stick at 8% thanks to late developing advant ...
Source: IBTimes UK   Full article at: IBTimes UK
 

 
Update
6

3 weeks ago

Why The 'Intelligence Explosion' Of Machines Would Not Be A Good Thing

Aug 10 2014 1:42pm CDT | Source: Business Insider

This post is about "Superintelligence: Paths, Dangers, Strategies," by Nick Bostrom, which will be published in America in September. Humans like to think of themselves as special. But science has a way of puncturing their illusions. Astronomy has demoted Earth from the centre of the universe to just one planet among zillions. Darwin's theory of evolution has proved that, rather than being made in the image of so ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
5

3 weeks ago

Peter Thiel Says He Never Invests In A CEO Who Wears A Suit

Aug 6 2014 12:52pm CDT | Source: Business Insider

Superstar venture capitalist Peter Thiel has strong opinions about the tech business and fashion. In Thiel's new book, "Zero To One," he reveals his venture fund's policy on suits: never invest in a tech CEO who wears one, The Economist reports. Thiel, an early investor in many successful startups, including Facebook, Yelp, and LinkedIn, says his trick about suits saved him from making bad gambles on clever businessmen tr ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
3

3 weeks ago

Sowing Confusion About Renewable Energy

Aug 5 2014 8:30am CDT | Source: Forbes Real Time

­­Sowing Confusion About Renewable Energy By Amory B. Lovins Readers of The Economist may have been surprised to read in its 26 July 2014 “Free exchange” section on page 63, or in its online version, the “clear” conclu­sion that solar and wind power are “the most expen­sive way of reducing green­house-gas emissions,” ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
2

6 weeks ago

Why Isn't The United States Growing Faster?

Jul 21 2014 2:21pm CDT | Source: SeekingAlpha

By John M. Mason: The lead article in the Economist this last weekend focused on why the United States is not growing faster.Recently, it seems as if everyone has lowered the rate at which they expect the United States to grow in the near future. We are talking here about the potential growth rate of the country.The International Monetary Fund just reduced its estimate of America's potential ...
Source: SeekingAlpha   Full article at: SeekingAlpha
 

 
Update
1

6 weeks ago

IEA Chief Economist: Middle East Remains Central to Oil Markets

Jul 18 2014 12:25pm CDT | Source: Forbes Real Time

Long held tenets of the oil and gas sector are being rewritten, but the Middle East remains central to the wider market, according to Dr Fatih Birol, Chief Economist and Director of Global Energy Economics at the International Energy Agency (IEA). The IEA expert lent his voice to market assumptions about [ ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Nigeria to get Japanese drug for Ebola treatment
Abuja, Sep 2 (IANS) Nigeria will soon get a Japanese drug to treat Ebola, the country's Health Minister Onyebuchi Chukwu said Monday.
 
 
Japan to aid connectivity upgrade in northeast India
Tokyo, Sep 1 (IANS) India and Japan Monday decided to strengthen cooperation for improving connectivity and socio-economic development in northeastern states of India.
 
 
Three Ebola cases recorded in Nigeria oil hub
Abuja, Sep 1 (IANS) At least three cases of Ebola virus disease (EVD) have been recorded in Nigeria's oil hub of Port Harcourt, where a fatality was confirmed last week, the country's Minister of Health Onyebuchi Chukwu said here Monday.
 
 
India, Japan to elevate strategic partnership
Tokyo, Sep 1 (IANS) Prime Minister Narendra Modi Monday said relations with Japan were of the "highest priority" for his government and announced a slew of initiatives, including turning the strategic partnership into a "special" partnership and a fast-track channel for Japanese investors.
 
 
 

Latest from the Network

Modi stresses on women empowerment, education
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday stressed on the need for women's empowerment in the present-day world. Modi, who was addressing students of the Sacred Hearts University here, said he has...
Read more on Politics Balla
 
Country with knowledge will lead world: Modi
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday said that 21st century is the century of knowledge and the country with "knowledge and information will lead the world". "...the one who has knowledge and...
Read more on Politics Balla
 
Eight killed in China landslides
Beijing, Sep 2 (IANS) At least eight people were killed and 24 missing Tuesday after heavy rains caused landslides in China's Chongqing province. Rescue teams, including fire-fighters and police, have evacuated over 7...
Read more on Politics Balla
 
Spain returns Colombian treasure
Bogota, Sep 2 (IANS/EFE) Spain has returned to Colombia 691 indigenous artefacts seized in a police operation 11 years ago. The items - from different epochs, cultures and regions, include objects with organic and...
Read more on Celebrity Balla
 
Travel across India for enhanced learning: Modi
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday asked IT experts to step out of their rooms and travel across India to enhance their learning. "You will learn as much outside your rooms as you will learn...
Read more on Politics Balla
 
New anti-terror measures to be introduced in Britain: Cameron
London, Sep 2 (IANS) British Prime Minister David Cameron Monday said his country will introduce a slew of measures to prevent terror suspects from travelling abroad, imposing tougher constraints on suspected...
Read more on Politics Balla
 
I don't enjoy my voice: Romeo Santos
Los Angeles, Sep 2 (IANS) Singer Romeo Santos is often baffled by fans who pay to listen to him sing, because he hates his own voice. The 33-year-old says he hates both his speaking and singing voice, reports...
Read more on Celebrity Balla
 
Eight killed in France building collapse
Paris, Sep 2 (IANS/EFE) As many as eight people have died due to a building collapse in Paris till Monday, French emergency management services said. Firefighters had recovered before dawn Monday the bodies of two...
Read more on Politics Balla
 
Modi focuses on women's empowerment, education
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday stressed on the need for women's empowerment in the present-day world as he began the fourth day of his visit to Japan. Modi, who was addressing students of the...
Read more on Politics Balla
 
George Clooney's back pain continues
Los Angeles, Sep 2 (IANS) Almost 10 years after filming the Oscar-nominated movie "Syriana", actor George Clooney is still feeling the effects of his on-set back injury. The actor traveled to Duke University earlier...
Read more on Celebrity Balla