10For the first time since 2007, Prime Minister Narendra Modi will travel to Nigeria on November 16, 2024, underscoring India’s renewed emphasis on fortifying ties with the continent’s most populous country. The visit is a component of India’s larger plan to improve relations with the Global South and fortify strategic alliances in fields such as economic cooperation, maritime security, and defence. Nigeria and India have a long history of defence cooperation that started with a 2007 Memorandum of Understanding and has since grown to include intelligence sharing, military training, and cooperative counterterrorism talks.
As a sign of the countries’ dedication to maritime security, particularly in the piracy-prone Gulf of Guinea, the Indian Navy’s INS Sumedha travelled to Lagos in 2023 for cooperative naval drills. Economic ties are another area in which India is involved. In 2023–2024, bilateral commerce reached $7.89 billion, but attempts are being made to increase it even more, especially in industries like renewable energy, natural gas, crude oil, and medication. Along with completing a Local Currency Settlement System Agreement, these topics are anticipated to be the main topics of discussion during PM Modi’s visit. The roughly $27 billion in investments made by India in Nigeria strengthen the two countries’ economic relations.
A sizable Indian community supports Nigeria’s economy.
Future partnerships may extend to infrastructure, education, renewable energy, and Technology transfer, with India supporting Nigeria’s capacity-building and Sustainable Development initiatives. India and Nigeria have a long-standing relationship that encompasses political, cultural, and economic facets in addition to defence. Soon after Nigeria got independence in 1960, diplomatic ties were formed between the two countries, and they have collaborated closely as members of the Non-Aligned Movement, the Commonwealth, and the UN. A sizable Indian community supports Nigeria’s economy, particularly in industries like telecommunications and pharmaceuticals, adding to the two countries’ shared cultural links through their sizable diasporas.
Bilateral commerce between Nigeria and India has decreased slightly in recent years, from $8.24 billion in 2022 to $7.89 billion in 2023–2024, notwithstanding their close relations. This decline is explained by changes in the price of oil throughout the world as well as Nigeria’s persistent economic problems, such as its reliance on oil exports, which make up a sizable amount of its commerce with India. Nigeria has made sluggish efforts to diversify its Economy and increase commerce in non-oil areas. Both countries are trying to increase cooperation in fields including technology, renewable energy, and pharmaceuticals in order to address this.
Other African countries have benefited from Indian investments.
More so, a component of India’s larger “Africa Focus” policy has been the expansion of its ties with other African nations. South Africa’s Trade with India reached over $16 billion in 2022–2023, making it a significant commercial partner. India has also made significant investments in nations like Kenya and Ethiopia in the areas of healthcare, education, and infrastructure. Africa has some of the fastest-growing economies in the world, and these alliances show that India recognises the continent’s increasing geopolitical significance.
The progress of Africa depends heavily on Nigeria’s leadership. Nigeria, the most populous nation in Africa and the continent’s largest economy, is an important member of the Economic Community of West African States (ECOWAS) and the African Union (AU). Nigeria is seen as a stabilising influence in West Africa and has played a significant role in regional peacekeeping operations. It is a major player in the world energy markets due to its abundant natural resources, especially gas and oil, and its developing tech industry is making it a leader in Africa’s digital economy.
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Indian External Affairs Minister S. Jaishankar said ahead of Prime Minister Modi’s visit, “We are committed to deepening our partnership across sectors, particularly in security, trade, and sustainable development. Nigeria is a cornerstone of our Africa strategy.” Nigerian Foreign Minister Yusuf Tuggar also underlined the significance of the visit, saying, “We look forward to expanding cooperation in ways that will benefit both our nations and the broader African region, as we share a future of mutual growth and prosperity.” India and Nigeria hope to reverse trade reductions and create a more durable and varied cooperation that reflects their increasing global significance through these initiatives.