Indian PM seeks renewed Nigerian crude purchases, broader trade
India’s PM Narendra Modi has requested renewed purchases of Nigerian crude oil to help rebuild bilateral trade towards its previous high of nearly $15 bill Read More: https://punchng.com/indian-pm-seeks-renewed-nigerian-crude-purchases-broader-trade/
Nigeria and India are aiming to renew their strategic economic relationship, with India seeking to resume purchases of Nigerian crude oil. This renewed push comes after a meeting between Indian Prime Minister Narendra Modi and Nigerian Vice President Kashim Shettima at the recent BRICS Leaders' Summit in New Delhi. According to the official statement, India aims to return bilateral trade between the two nations to its previous high of nearly $15 billion.
In the 2021-2022 financial year, the bilateral trade stood at around $14.95 billion, but it decreased to $7.13 billion in 2024-2025 and rose to $9 billion in 2025-2026, as per the Indian High Commissioner to Nigeria, Abhishek Singh. Shettima assured that Nigeria would examine the request for renewed crude purchases as part of broader efforts to attract investment and develop the country's productive capacity.
The two leaders agreed on the importance of private-sector engagement and collaboration in fintech and digital technology.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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