Nigeria has signed a multi-billion dollar deal with an Indian investment agency to support infrastructure projects including power, rails, warehousing and ports in Africa’s most populous nation.
The agreement, signed on Sept. 6 with Invest India, is expected to help the West African country industrialize its agriculture and manufacturing sectors and cut reliance on imports, the head of the government-backed infrastructure vehicle said Friday.
It’s the latest in a string of deals between the two nations as Nigeria, a country of more than 200 million people, seeks to plug an infrastructure deficit and stimulate economic growth. To do this, it needs at least $3 trillion over 30 years, Angbazo said.
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