Bilateral trade between Nigeria and India reached about $14.95 billion in the 2021–2022 financial year before falling to $7.13 billion in 2024–2025 as Indian purchases of Nigerian crude declined. Trade recovered to about $9 billion in 2025–2026, with both sides now seeking to return commercial exchanges towards previous levels.
Shettima said Nigeria would examine India’s request while pursuing wider cooperation in pharmaceuticals, defence, digital technology, fintech and investment. Both governments also agreed that stronger private-sector participation would be important to expanding trade, technology transfer and domestic production.
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India is seeking renewed purchases of Nigerian crude oil as both countries move to rebuild bilateral trade towards its previous peak of nearly $15 billion. India has expressed interest in resuming stronger purchases of Nigerian crude oil as part of efforts to deepen economic ties between both countries. Indian Prime Minister Narendra Modi raised the issue during talks...
Key takeaways
- India is seeking renewed purchases of Nigerian crude oil as both countries move to rebuild bilateral trade towards its previous peak of nearly $15 billion.
- India has expressed interest in resuming stronger purchases of Nigerian crude oil as part of efforts to deepen economic ties between both countries.
- Indian Prime Minister Narendra Modi raised the issue during talks with Vice President Kashim Shettima on the sidelines of the BRICS Leaders’ Summit in New Delhi.Bilateral trade between Nigeria and India reached about $14.95 billion in the 2021–2022 financial year before falling to $7.13 billion in 2024–2025 as Indian purchases of Nigerian crude declined.
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India is seeking renewed purchases of Nigerian crude oil as both countries move to rebuild bilateral trade towards its previous peak of nearly $15 billion. India has expressed interest in resuming stronger purchases of Nigerian crude oil as part of efforts to deepen economic ties between both countries. Indian Prime Minister Narendra Modi raised the issue during talks...
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Glow 99.1 FM published this story with Exceltim listed as author.
When was it published?
September 14, 2026
