Prime Minister Narendra Modi will embark on a five-day state visit to Nigeria, Brazil, and Guyana, as announced by his office. Scheduled to visit Nigeria on November 16 and 17, Modi will become the fourth Indian prime minister to visit Nigeria, marking the first such visit in 17 years.
The inaugural visit by an Indian prime minister to Nigeria was made by Jawaharlal Nehru in September 1962, followed by Atal Bihari Vajpayee in December 2003, and Manmohan Singh in October 2007.
Nigeria-India Trade Partnership Over the years, India and Nigeria have nurtured their relationship through periodic interactions, including key bilateral visits at the level of Heads of State or Government.
Nigeria’s robust real GDP growth over the past decade, driven by non-oil sectors, has been complemented by India’s significant role in its economic growth. This visit aims to further bolster bilateral trade and commercial relations between the two nations.
At the forefront of this visit is the Memorandum of Understanding (MoU) recently signed by both countries on November 15, 2024.
Nigeria Seals Massive $7 Billion Investment Deal with India The agreements include MoUs on Cultural Exchange, Survey Cooperation, and Customs Cooperation. Nigeria’s Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dumoma Umar Ahmed, signed on behalf of Nigeria, while India’s Secretary of Economic Relations, Mr. Dammu Ravi, signed for India.
According to Nigerian presidential spokesman Mr. Bayo Onanuga, both leaders will hold further talks to strengthen Nigeria and India’s ties based on the MoUs signed earlier. Modi stated that his visit is an opportunity to build the strategic partnership between the two countries. “Both leaders will exchange signed Memoranda of Understanding to enhance collaboration in critical sectors,” Onanuga posted on X.
The MoUs aim to strengthen the longstanding trade relationship between Nigeria and India. Nigeria is a significant trade partner for India, ranking fourth among Nigeria’s non-oil export destinations. During the year 2021-22, the bilateral trade volume stood at $14.95 billion, with Indian exports to Nigeria amounting to $4.66 billion.
Nigeria exports products like cashew nuts, wood, cotton, pearls, rubber, and gum Arabic to India, while India exports paper and wood products, textiles, plastics, chemicals, machinery, transport equipment, drugs, and pharmaceuticals to Nigeria.
The Indian government has pledged to maintain an open trade relationship with Nigeria and other African countries, removing barriers to facilitate trade. Additionally, they plan to support Indian companies interested in investing in Nigeria and the rest of the African continent.
