By IANS,
New Delhi : Nigeria, which is India’s second largest supplier of oil and is aiming to be among the world’s top economies, is seeking to ramp up bilateral trade and is looking for help in capacity building, including restructuring of its “shattered railway system,” its planning minister said Wednesday.
“We are looking at enhancing bilateral trade agreements. We are looking for technical relations between your planning commission and our planning body,” visiting Nigerian Planning Minister Shamsuddeen Usman said at an interactive session at the Sapru House here.
“We are looking at exchange of ideas for developing capacity and evolving some kind of understanding for developing capacity,” he said at the event, organised by the Indian Council of World Affairs (ICWA).
He said Nigeria, which is aiming to be among the world’s top 20 economies by 2020, was focusing on education, health and catering to the weaker sections of society.
“There is a very strong focus on what we need to do,” he said.
Usman also said Nigeria could learn from India’s efforts to ensure inclusive growth.
“There is not much inclusiveness in Nigeria. Fifty-four percent of our people live in poverty and that’s criminal, the minister said.
Usman and a 12-member delegation of parliamentarians and officials, is here at the invitation of Planning Commission Deputy Chairman Montek Singh Ahluwalia.
On Tuesday, apart from Ahluwalia, he also met External Affairs Minister S.M. Krishna.
He also indicated that India could play a role in restructuring the West African nation’s “shattered railway system”.
“Over dinner last night, Dr. Ahluwalia mentioned that India’s trains were not too fancy. I said to him: ‘At least your railway system is functional. Ours is not even functional.'”
“In the 1960s (before the military intervened and ruled for 35 years), 70 percent of the freight traffic was handled by the railways. Today, it is down to four percent. We are making a major effort to restructure the system,” Usman said.
There were other areas too where Nigeria could learn from Nigeria, the minister said.
“We have noted the debate here on FDI in retail. We too have a parallel debate as we want to reduce petroleum subsidies. That’s why I have brought my bosses, these parliamentarians, with me,” Usman said amidst laughter from both sides.
While India’s trade with Nigeria is greater than with a country like Britain, it is steeply titled in the latter’s favour. India’s imports from Nigeria stand at $10 billion and exports at a mere $2 billion.