Nigeria, India Target $15bn Trade Revival
Nigeria and India have agreed to work towards restoring bilateral trade to its previous peak of nearly 15 billion dollars.
The commitment was reached during a bilateral meeting between Vice President Kashim Shettima and Indian Prime Minister Narendra Modi on the sidelines of the BRICS Leaders’ Summit in New Delhi.
The Vice President also stressed Nigeria’s intention to move beyond traditional commodity trade by attracting investments that support local manufacturing, create jobs and facilitate technology transfer for the country’s young population.
Shettima assured him that President Bola Ahmed Tinubu’s administration would review India’s request to resume crude oil purchases.
Modi stressed the importance of restoring energy trade as part of efforts to return bilateral commercial exchanges to previous levels.
Beyond the oil sector, both countries agreed to strengthen cooperation in key areas, including fintech, digital public infrastructure and the creative industries.
They also agreed to explore partnerships in defence technology, power generation and clean energy, while promoting investment in pharmaceuticals, healthcare and capacity building.
Vice President Kashim Shettima has returned to Nigeria after representing President Bola Tinubu at the Summit.
