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India’s chemical exports to Nigeria grows by 5.6%

By on July 19, 2013

Exports of chemical  items from India to Nigeria have increased to about 5.6 percent from 2012 to 2013.

Also, the total items covered under the purview of ChemExcil (Export Promotion Council, set up by Indian government) to Nigeria in the period stood at $90 .3 million as against $85.5 million of the corresponding period of 2012, said Executive Director, ChemExcil, Mr. Suhas Bhardi.

Bhardi gave these figures during the Indian Chemical and Cosmetics Exhibition, organised by ChemExcil in collaboration with Pesticides Manufacturers and Formulators Association of India (PMFAI) and the Indian High Commission, Lagos.

According to him, the basic sector which consists mainly of petrochemicals accounts for over 70 percent of the total chemical market in Nigeria.”  I am happy to note that the upstream petrochemical sector is well established as Nigeria is the highest oil-producer in Africa.

“The purpose of this Exhibition is to strengthen/expand existing business, promote india’s chemical exports and to create a positive brand image of Indian products. This would also result into many more joint ventures and technology transfer,” he said.

On the other hand, President of PMFAI, Mr. Pradip Dave, said that the African region offers most potential for improvement in productivity of crops and therefore African governments have given priority for development of Agriculture in the region.

Dave, noted that there is  good market for agrochemicals in Nigeria, stressing, “It is estimated that the private sector agrochemical companies supply about 70 percent of the total CPP demand of approximately $120 million.”

He said, “Most of the African countries are now concentrating on development of irrigation projects and with modern irrigation system by optimising and conserving water resources and also introducing drought resistance varieties. The drought resistance and high yielding varieties will definitely boost the agricultural production in the African region which will also help in boosting agricultural exports from Africa.

 

 

 

[Vanguard]