As the Federal Government admitted yesterday that the economy is in recession, President Muhammadu Buhari declared that his administration is opened to innovative ideas in the gas, technology and agricultural sectors to resuscitate the economy.
The Finance Minister, Mrs Kemi Adeosun had yesterday while briefing senate on the state of the economy disclosed that the economy is in a ‘technical’ recession.
Buhari said this while receiving the Letter of Credence of the High Commissioner of the Republic of India, Mr. Nagabhushana Reddy, at the State House, yesterday.
He said, “The relationship between Nigeria and India is a long one. The relationship pre-dates Nigeria’s independence and as soon as we got our independence we opened a mission in New Delhi.
“Our relationship cuts across education, military, trade manufacturing and technology. I recall schooling at the Defence Services Staff College in Wellington from 1970 to 1973 and the significant role India played in establishing the Nigerian Defence Academy.
“Certainly, you are also the biggest buyer of Nigeria’s crude oil today. We need more of that partnership as Nigeria tries to be more innovative in education, manufacturing and agriculture to diversify the economy,” he said.
President Buhari said the strong relationship that had been established between Nigeria and India over the years could be further explored in creating a competitive edge, and mutual advantage for both countries in agriculture, trade and skills transfer.
In his remarks, Reddy said the Indian government was looking forward to consolidating its relationship with the Ministries of Petroleum, Agriculture, Trade and Investment, and Power, Housing and Urban Development for various projects.
