Nigeria’s Economic and Investment Agenda: Leveraging India A Presentation to 17 th Nigerian Economic Summit by Indian High Commissioner Mahesh Sachdev (Hilton Abuja November )

A Snapshot of India Population: 1.21 Billion (2 nd Largest) on Area: 3.2 mn sq kms (7 th Largest) Polity: Parliamentary Democracy under 1950 Constitution with electoral college of over 714 mn; 15 General Elections in 60 years. Media: ~70,000 Publications, 1,400 TV Stations, 100 m on Internet GDP: PPP: $4.04 Tn (World’s 4 th Largest); Nominal: $1.7 Tn (10 th ) Composition: Services:58%, Ind.:28%, Agric.:14% GDP Growth: 10.4% in 2010; 7.7% in 2011 (Latest IMF Data) Trade/GDP: 40%; Exports: $250 bn; Imports $327 bn ( ) Fixed Investment/GDP: 32.2% Market Cap/GDP: 150% Approx. Fiscal Deficit: 4.7% of GDP Cumulative Foreign Investments on : $198 bn (FDI); $172 Bn (FII); $ 89 bn (Investments Abroad) Mixed Economy under Independent Regulators 2

Nigeria-India: Current Picture Nigeria’s 2 nd Largest Trading Partner ($13.0 bn in ) Largest Investor in Nigeria in 2010 ($ 5 bn) Indian Cos are Nigeria’s 2 nd Largest Employer Pole Spot in IT, Health, Steel, Power X-mission Growing Medical Tourism, Education & Training Incoming Projects: Power, Petro-Chem, Health Growing P2P Contacts: 23,669 Visas in 2010 ~35,000 Indians in Nigeria (<0.2% of Population) 3

Nigeria-India Trade Main Items N2I: Crude, Plastics, Wood, Cocoa Main Items I2N:Elect. Machinery & Equipment, Pet Products, Vehicles, Pharma, Electronics, Steel, Metals, Chemicals -Y07Y08Y09Y10Y11 Nigeria to India (+9%)8900(+17%)7288 (-18%)10788 (+48%) India to Nigeria (+20%)1529(+41%)1408 (-8%)2259 (+60%) Total Trade Trade Growth-9.6%20%-16.6%50.0% Trade Balance

Nigeria-India Business Ties 120 Years of Indian Business in Nigeria began with Trade & Textiles. It has gradually expanded to IT, Telecom, HRD, Pharma, Agric., E&P, Mfr-ing, Steel, Transport, Services, Distribution & Retailing, etc Key Drivers: Similarities & Complementarities, Mutual Familiarity, Compatible & Cost-Effective Solutions, Appropriate & Proven Technology, Easy Sustainability & Up-Scaling, Professionals Challenges: Better Connectivity, Stereotypes, Enabling Framework, Financial Constraints 5

India in Nigeria’s Economic Agenda Existing Collaboration: Jt Commission, Capacity Building through ITEC, AIFS-II &Other Means; Experts’ Visits, Line of Credit Potential: Leveraging Relevant Indian Experience in Planning & Reforms, Job Creation, MDGs, e-Governance, Federal- ism, Strengthening Regulators, etc. Methodology: To Be Driven by Nigeria

India in Nigeria’s Investment Agenda Current Status: Biggest Investor in 2010; Over 100 Indian Cos; 2 nd Largest Job Provider, Investt Compatible with GoN Priorities: Health, Agric, HRD, IT, Power, Oil, etc. In Pipeline: Petro-Chem, Infra, Power Potential: Hydrocarbons, Railways, Services, Mining, Consumer Goods, Vocational Training, Wish List: P2P Engaging Indians, BIPPA, DTAA, Transparency, Regulatory Regime, Labour Laws, Visa, Ensuring Level Playing Field

Bilateral Opportunities [ India to Nigeria / Nigeria to India ] More of Current Trade Power Equipment, Refined Products, Vehicles, Pharma, Steel, Metals, Chemicals, Textiles, IT, Hydrocarbons, Wood, Cocoa, etc. Potential Areas: Foodstuff, Commodities, Consumer Goods, Engineering Goods & Services; Palm Oil, Solid Minerals, Cashew, Handicrafts, Herbs, etc. More of Current Investments: IT, Telecom, Pharma, Agric., E&P, Mfr-ing, Steel, Transport, Distribution & Retailing, etc. Potential Areas: Petro-Chem, E&P, Infrastructure, Farming & Food Processing, Power, Education, Healthcare, Vocational Training, etc. Thank You ! Comments & Questions are Welcome: 8