- Speaking recently in Lagos, Kern described Nigeria’s coastline as a major asset for economic growth, calling it “the new gold” for investment
India has pledged its support to Nigeria in developing its blue economy, valued at an estimated $296 billion.
The Consul-General of India in Lagos, Shri Chandramouli Kern, said India is committed to helping Nigeria unlock the potential of its untapped marine resources.
Speaking recently in Lagos, Kern described Nigeria’s coastline as a major asset for economic growth, calling it “the new gold” for investment.
Despite Nigeria’s rich marine environment, its blue economy remains largely underdeveloped, leaving significant room for growth.
Kern noted that India, with its expertise in fisheries and aquaculture, is well-placed to assist Nigeria in building its marine industries. He suggested that Nigeria could benefit from India’s knowledge and training programmes, including the Indian Technical and Economic Cooperation (ITEC) course, which covers sectors such as fisheries.
He explained that the ITEC courses are fully funded by the Indian government, with all costs – including visas, airfare, and transport – covered. Kern emphasised that Nigerian officials and marine industry stakeholders could gain valuable insights into advanced aquaculture practices, such as shrimp and prawn farming, which could revolutionise Nigeria’s approach to its marine resources.
“If the blue economy and fisheries department officials of Nigeria want to participate in such a course, we can make arrangements for them,” Kern stated.
On trade, he highlighted the fluctuating volume of commerce between India and Nigeria, which ranges between $9 billion and $15 billion. Kern also pointed to the possibility of joint ventures between Indian and Nigerian marine businesses, describing it as a “win-win situation” that could benefit both nations through shared resources and expertise.
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