Nigeria and India have agreed to deepen Economic Ties, a development that will generate at least $15 billion in bilateral trade.
The agreement followed talks between Vice President Kashim Shettima and Indian Prime Minister Narendra Modi at the BRICS Summit in New Delhi.
Trade peaked at $14.95 billion in 2021-2022, dropped to $7.13 billion in 2024-2025, and has now recovered to about $9 billion.
Prime Minister Modi called for renewed Indian purchases of Nigerian crude to restore trade volumes.
Vice President Shettima said the Tinubu administration will review the request as part of efforts to attract investment.
He identified pharmaceuticals, defence, digital technology, and the creative industry as key areas for Nigeria, with a focus on jobs and skills for the youth.
Both leaders also pledged to expand cooperation in renewable energy, power, healthcare, fintech, and digital infrastructure.
Vice President Shettima said Nigeria wants to move beyond commodity trade to partnerships that support local production and value addition.
They agreed that private sector engagement will drive the next phase of relations.
Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, said Nigeria is adopting India’s women-led self-help model through the Nigeria for Women Programme.
The initiative connects women to finance, skills and markets. She noted that women’s economic empowerment is key to achieving a $1 trillion economy.
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(Editor: Anoyoyo Ogiagboviogie)
