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Nigeria, India dey move to revive dia $15bn bilateral trade
Di statement talk say bilateral trade between di two countries bin stand at about $14.95bn for di 2021–2022 financial year before e fall.
Nigeria, India dey move to revive dia $15bn bilateral trade
Nigeria VP Kashim Shettima

Nigeria and India don agree to make dia economic ties stronger and work towards bringing bilateral trade back to di high level of almost $15bn wey e bin dey before, as Indian Prime Minister Narendra Modi dey find renewed purchases of Nigerian crude oil.

According to one statement wey di Senior Special Assistant to di President on Media and Communications, Office of di Vice President, Stanley Nkwocha, release on Monday, di commitment follow afta one bilateral meeting between Vice President Kashim Shettima and Modi for di sidelines of di BRICS Leaders' Summit wey just end for New Delhi.

Di statement talk say bilateral trade between di two countries bin stand at about $14.95bn for di 2021–2022 financial year before e fall well-well mainly because India reduce how e dey buy Nigerian crude.

E add say trade fall to $7.13bn for 2024–2025 but e come back up to about $9bn for 2025–2026, according to figures wey di Indian High Commissioner to Nigeria, Abhishek Singh, release.

Modi make case for renewed crude purchases from Nigeria, saying say stronger energy trade go help bring commercial exchanges between both countries back to di levels wey e bin dey before.

Responding, Shettima talk say, "Nigeria go look di request as part of broader efforts by President Bola Ahmed Tinubu administration to attract investment and build strategic partnerships wey go fit expand di country productive capacity."

Di Vice President identify pharmaceuticals, defence, digital technology and di creative industries as areas wey Nigeria particularly interested in, and e stress say dem need partnerships wey go create jobs, transfer skills and open opportunities for di country large youth population.

Di statement talk say di two leaders also discuss expanded cooperation for renewable and clean energy, power, healthcare, capacity building, financial technology and other emerging sectors.

Shettima talk say, "Di President Tinubu administration particularly interested to move Nigeria relationship with India beyond di traditional exchange of commodities towards investments wey go support domestic production and value addition."

Di renewed push build on top one longstanding economic relationship wey crude oil don historically account for a significant share of India imports from Nigeria.