Published by The Khabardar News
Prime Minister Narendra Modi’s five-day visit to Nigeria underscores the growing strategic partnership between the two nations. With a robust history of economic collaboration, shared challenges, and mutual aspirations, this visit aims to deepen ties across diverse sectors, including trade, defence, healthcare, and agriculture.
Economic Ties: A Strong Foundation for Growth
India remains a key trading partner for Nigeria, accounting for over 70% of Nigeria’s pharmaceutical market and ranking as the country’s second-largest trading partner in Africa. Bilateral trade reached $7.89 billion in 2023-24, following $11.8 billion in 2022-23. This fluctuation highlights the potential for further growth, especially as both countries finalize a local currency settlement system to simplify transactions.
Key areas identified for enhancing bilateral trade include crude oil, natural gas, pharmaceuticals, agriculture, renewable energy, and MSMEs. India’s pharmaceutical dominance in Nigeria has earned it the title of the “Pharmacy of the World,” with ongoing discussions to strengthen cooperation in active pharmaceutical ingredients (APIs) and clinical trials.
Nigerian agricultural exports, including sorghum, cashew nuts, sesame seeds, and millet, hold immense potential in the Indian market. PM Modi’s visit is expected to explore ways for Nigerian businesses to leverage India’s large market for these products while enhancing value-added processing in Nigeria.
Defence and Security Cooperation
India and Nigeria share a strong defence partnership, with ongoing military training exchanges under the Indian Technical and Economic Cooperation (ITEC) programme, which offers 150 slots annually for Nigerian defence personnel. Naval cooperation has also been a focus, particularly in the Gulf of Guinea, a critical region for global trade routes.
The Indian Navy Ship (INS) Sumedha made a landmark port call in Lagos in October 2023 to strengthen maritime security and combat piracy. Plans for Nigeria to procure military hardware, including helicopters and fighter jets from Indian manufacturers like Hindustan Aeronautics Limited (HAL), align with the nations’ strategic objectives.
Beyond defence, collaboration extends to space and cybersecurity, with a Memorandum of Understanding (MoU) in space cooperation to focus on satellite development, remote sensing, and mapping. Cybersecurity initiatives, including an MoU between CERT-IN and CERT-NG, aim to bolster Nigeria’s digital security framework.
Healthcare and Humanitarian Support
India’s healthcare expertise offers transformative potential for Nigeria. With India accounting for the majority of Nigeria’s pharmaceutical imports, discussions are underway to emulate successful Indian healthcare schemes like Ayushman Bharat and the COWIN platform. India could also assist in upgrading Nigeria’s public hospitals to AIIMS standards, with potential financial and technical support to establish AIIMS-like facilities in Nigeria.
These initiatives are crucial as Nigeria grapples with hyperinflation, leaving many citizens unable to afford basic necessities. Inspired by India’s Pradhan Mantri Awas Yojana (PMAY), Ration Yojana, and Right to Education (RTE) schemes, PM Modi is expected to encourage Nigeria’s leadership to adopt similar measures to alleviate poverty, provide free education, and ensure food security.
Agriculture: A Cornerstone of Development
Agriculture, employing 70% of Nigeria’s population, contributes over 25% to its GDP. However, with only 44% of its 70 million hectares of arable land under cultivation, Nigeria faces challenges in maximizing its agricultural potential.
India and Nigeria are discussing an MoU focused on food processing, irrigation techniques, and farm machinery to reduce post-harvest losses. Such collaboration could empower Nigerian farmers while ensuring a stable supply of agro-products to India.
Cultural and Diaspora Relations
The Indian diaspora in Nigeria has earned unparalleled trust and respect for its hard work, leadership, and integrity, contributing significantly to Nigeria’s economic and social fabric. Companies like Bajaj Nigeria have become household names, with products like the Bajaj Boxer motorcycle and Bajaj Marua (Auto) serving as indispensable solutions for personal and commercial transportation needs.
Despite these positive ties, challenges persist. Many Nigerians traveling to India for education, medical treatment, or business report experiences of prejudice. Addressing these issues is essential to ensure that the natural camaraderie between Indians and Nigerians translates into stronger people-to-people connections.
The Road Ahead: A Call for Transformation
Nigeria’s recent reforms, including the removal of petrol subsidies and the floating of currency exchange rates, signal a commitment to economic diversification. PM Modi’s visit presents a unique opportunity to guide Nigeria in adopting transformational policies that prioritize public welfare while fostering economic growth.
By sharing India’s experiences in social welfare, healthcare, and infrastructure development, this visit could mark the beginning of a new era of India-Nigeria cooperation—a partnership built not just on trade but on shared humanity and progress.