Nigeria, India move to revive $15bn bilateral trade
Nigeria and India have agreed to deepen economic ties and restore bilateral trade to its previous high of $15bn, with India seeking renewed crude oil purch Read More: https://punchng.com/nigeria-india-move-to-revive-15bn-bilateral-trade/
Nigeria and India have pledged to revive their bilateral trade to its historic peak of nearly $15bn, following a meeting between Indian Prime Minister Narendra Modi and Nigeria's Vice President Kashim Shettima. The two countries' trade stood at $14.95bn in 2021-2022, but fell to $7.13bn in 2024-2025 and recovered to around $9bn in 2025-2026.
Indian High Commissioner Abhishek Singh revealed that Modi urged for increased crude oil imports from Nigeria, citing the potential benefits of stronger energy trade. Shettima expressed Nigeria's willingness to explore this request as part of President Bola Tinubu's administration's efforts to boost investment and partnerships. The leaders also discussed expanding cooperation in sectors such as renewable energy, healthcare, fintech, and digital technology.
The renewed push for bilateral trade aims to help Nigeria move beyond traditional commodity exchanges towards investments that support domestic production and job creation.
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