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Nigeria and India To Partner On Development of FinTech, AI

The Indian government says it is considering new areas of partnership with the Nigerian government.

The newly appointed Indian High Commissioner to Nigeria, Gangadharan Balasubramanian made this known in Abuja.

The commissioner disclosed that India has invested about $14.9 million in Nigeria, as a social investment.

Balasubramanian said that the countries were expanding their areas of bilateral relationships in other areas which include fintech, artificial intelligence, scientific development, and solar energy.

“Human capacity development is one of the most important areas on which we are concentrating and we are very happy that with the assistance and cooperation of successive Nigerian governments, we can now say that our relationship is very strong and very cordial,” he said.

“India-Nigeria relationship is one of the best. We started our relationship even before Nigeria’s independence in 1958 when we had established our office in Lagos. Since then, our relationship has developed, we have partnered in human capacity development, we are very happy that with the cooperation of the Nigerian government, we can now say that our relationship is strong and very cordial,” he said.

Nigeria’s FinTech ecosystem, although considered relatively young offers numerous opportunities for fintechs.

The FinTech sector in India on the other hand is considered one of the fastest growing ecosystems in the world, with rapid investment and increased opportunity observed in the past few years.



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