India-Nigeria trade hits $9bn

India-Nigeria trade hits $9bn

India and Nigeria are deepening their strategic partnership across trade, investment, energy, defence, healthcare, agriculture and technology, with bilateral trade rising to about $9 billion in the 2025–26 financial year, Indian High Commissioner to Nigeria, Abhishek Singh, has disclosed.

Singh made the disclosure during a media briefing in Abuja, where he outlined the expanding economic and strategic ties between the two countries and identified emerging opportunities for deeper cooperation.

The latest trade figure represents a significant increase from the $7.13 billion recorded in 2024–25, underscoring the growing importance of economic relations between Africa’s largest economy and one of the world’s major emerging powers.

The envoy said the relationship had evolved beyond its traditional foundations of historical goodwill and oil trade into a broad-based strategic partnership encompassing security, technology, food security, healthcare, agriculture and global governance.

More than 200 Indian companies currently operate in Nigeria, with investments spanning pharmaceuticals, manufacturing, power, construction, consumer goods, healthcare and services.

Singh said many of the companies had established factories and production facilities in Nigeria rather than merely exporting goods to the country. Their investments, he added, have created employment for close to 100,000 Nigerians, making Indian businesses collectively one of the country’s major private-sector employers.

Energy Cooperation Expands

Energy security remains a major pillar of the bilateral relationship, with crude oil and liquefied natural gas continuing to play important roles.

However, Singh said cooperation was expanding into Indian investments in Nigeria’s oil and gas industry, pipeline security, compressed natural gas conversion and liquefied petroleum gas infrastructure.

He noted that the populations of India and Nigeria—about 1.4 billion and more than 230 million respectively—created enormous energy requirements, making closer cooperation in energy security imperative.

Defence Ties Deepen

The High Commissioner also identified defence and maritime security as key areas of cooperation, noting that bilateral defence relations date back several decades.

He recalled India’s support for Nigeria in establishing the National Defence Academy in Kaduna and the Naval College in Port Harcourt.

According to him, both countries face common security threats, including terrorism, violent extremism, piracy, organised crime and illicit trafficking.

Consequently, cooperation encompasses intelligence sharing, counter-terrorism, military training and maritime security, particularly in the Gulf of Guinea.

Singh disclosed that a Nigerian naval delegation was scheduled to visit India for bilateral discussions, while defence equipment and sales remained areas of collaboration.

India Extends $395m Credit

India’s development partnership with Nigeria has also yielded tangible benefits, including $395 million in concessional lines of credit, Singh said.

He added that Nigerians had benefited extensively from technical and professional training under the Indian Technical and Economic Cooperation (ITEC) programme.

Training has covered areas including auditing, teaching, rural development, electrification and other specialised fields, while Nigerian military personnel continue to receive training at leading Indian defence institutions.

Singh said India’s development assistance was focused on areas where its expertise aligns with Nigeria’s development priorities, including affordable medicines, Digital Public Infrastructure, agriculture, skills development, food security, climate-resilient development and space applications.

Pharmaceuticals, Technology, Agriculture

Healthcare is another major area of bilateral cooperation, with Singh highlighting India’s global strength in pharmaceutical manufacturing.

He said India remains one of the largest exporters of pharmaceutical products to Nigeria, while cooperation is expanding into Digital Public Infrastructure, space technology, agricultural mechanisation, food security and climate-resilient development.

These areas, he said, represent emerging frontiers in the India-Nigeria partnership.

Tinubu, Modi Visits Boost Relations

Singh attributed the recent momentum in bilateral relations to increased high-level political engagement.

He recalled President Bola Ahmed Tinubu’s visit to India in September 2023 during India’s G20 presidency, describing the visit as particularly significant because it coincided with the formal admission of the African Union as a full member of the G20.

The engagement was followed by Indian Prime Minister Narendra Modi’s state visit to Nigeria in November 2024, the first visit by an Indian prime minister to Nigeria in about 17 years.

During the visit, Modi held extensive discussions with Tinubu on trade and investment, defence, energy, agriculture, healthcare, education, technology and security.

Nigeria subsequently conferred its highest national honour, the Grand Commander of the Order of the Niger (GCON), on the Indian Prime Minister.

Tinubu Invited to BRICS Summit

India is also seeking stronger Nigerian participation in global economic and political platforms, particularly BRICS.

Singh disclosed that President Tinubu had been invited to the BRICS Leaders’ Summit scheduled for September 12–13, 2026, in New Delhi.

He expressed hope that Tinubu would lead a high-powered Nigerian delegation to the summit, stressing Nigeria’s strategic importance as Africa’s largest economy and one of the world’s most populous countries.

India assumed the BRICS chairmanship in 2026, with the summit expected to address global challenges, economic cooperation and engagement with partner countries.

India Backs Nigeria’s UN Bid

The two countries are also supporting each other’s aspirations at the United Nations.

Singh disclosed that Nigeria had conveyed its support for India’s campaign for a non-permanent seat on the UN Security Council, while India had similarly expressed support for Nigeria’s candidacy.

India’s campaign is being promoted under the banner “SHANTI” — Securing Holistic Advancement through Norms, Trust and Integrity.

The envoy said the campaign reflects India’s vision of a peaceful, inclusive and reformed global order and reiterated New Delhi’s position that UN Security Council reform should involve expansion of both permanent and non-permanent membership categories.

60,000-Strong Indian Community

Singh estimated that about 60,000 Indians live in Nigeria, many of them second- and third-generation residents who are deeply integrated into Nigerian society.

He commended the Nigerian government and people for providing an enabling environment for the Indian community to thrive, describing the community as an important bridge between the two countries in education, healthcare, culture and commerce.

India established its Liaison Office in Lagos in 1958, two years before Nigeria’s independence. The relationship was elevated to a Strategic Partnership in October 2007, paving the way for broader political, economic and security cooperation.

Nearly two decades later, the partnership has developed into a multidimensional relationship with growing significance for both countries and the wider Global South.

With bilateral trade approaching $10 billion, more than 200 Indian companies operating in Nigeria, nearly 100,000 Nigerians employed by Indian firms and cooperation expanding across defence, energy, healthcare, agriculture and technology, Abuja and New Delhi are positioning their relationship for a deeper phase of strategic and economic engagement.

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