Indians now employ almost as many people in Nigeria as the government, and trade between both countries hits $9 billion

 

In 2024, Nigeria’s trade with the world’s most populous country, India, came in at $7.13 billion, according to the Indian High Commissioner to Nigeria, Abishek Singh.

The High Commissioner made the revelation in Nigeria’s capital, Abuja, on Wednesday, noting that 2025’s figures significantly surpassed the $7.13 billion recorded in 2024.

He further revealed that around 200 Indian companies operating in the West African country are responsible for the creation of 100,000 jobs, making India the second-largest employer of Nigerian workers after the country’s own government.

According to the High Commissioner, this expansion in trade reflects the strengthening strategic partnership between the two nations, extending beyond traditional oil trade and historical ties to encompass investment, security, technology, agriculture, healthcare, and energy, among other sectors.

“Very happy to report that the trade for the financial year 2025-26 stands at around US dollar 9 billion, which is up from US dollar 7.13 billion in the financial year 2024-25,” Singh said.

And that makes these Indian companies the second-largest employer of Nigerian people after the Federal Government of Nigeria,” he added.

According to Singh, Nigeria and India have had long-standing ties based on anti-colonial solidarity, South-South collaboration, and mutual support for the Global South's voice.

“When I say Strategic Partnership, what does it mean? It means that India-Nigeria relations are no longer defined only by historical goodwill or oil trade,” he said.

The High Commissioner, as reported in The Punch, also revealed that the relationship between the two countries was evolving into a “multidimensional partnership” linking the heart of Africa with India.

Furthermore, the Indian official noted that his country has extended $395 million in concessional credit lines to Nigeria, alongside capacity-building initiatives administered through the Indian Technical and Economic Cooperation program.

Adding to what Singh had said, Vertika Rawat, India's Deputy High Commissioner to Nigeria, disclosed that pharmaceutical exports to Nigeria reached $315 million in the 2024–2025 fiscal year, accounting for more than 40% of the country's total pharmaceutical imports.

“India today supplies roughly 40% of Nigeria’s pharmaceutical imports, and for certain categories of medicine over 90%,” she said.

“This is what it means in practice for India to be the pharmacy of the world.

It means not only affordable medicines reaching Nigerian homes, but also manufacturing medicines in Nigeria for Nigerian homes,” Rawat added.

She noted that Nigeria could derive valuable insights from India's strategy for expanding health insurance coverage in its pursuit of universal healthcare.

By Chinedu Okafor, Business Insider Africa

India says Nigeria is 'natural' partner as Modi visits

Indian Prime Minister Narendra Modi and Nigerian President Bola Tinubu pledged to deepen their strategic partnership on Sunday, as Modi made his first visit to the West African country.

New Delhi said Modi's trip represented a meeting of the largest democracy in the world and the largest one in Africa, dubbing the two as "natural partners."

The visit comes amid a revived push by both India and Nigeria for permanent representation on the UN Security Council and as India seeks to find its place in a multipolar world.

"Together we will also continue to highlight at the global level the priorities of the Global South and thanks to our joint efforts, we will achieve success as well in this," Modi said.

During the meeting, both leaders said they sought to usher in a new chapter in the two countries' relationship in the areas of defense, energy, technology, trade and development.

Modi and Tinubu also pledged greater collaboration in counterterrorism, maritime security and intelligence sharing. It is meant to help both countries cope with growing threats in the Indian Ocean and the Gulf of Guinea, which is one of the world's most dangerous areas for piracy.
 

New title for Modi in Nigeria

Modi was welcomed to the Nigerian presidency by a military pipe band and honor guard, before entering closed-door talks with Tinubu and senior officials at his Aso Rock residence.

The Nigerian president conferred on Modi the title of the Grand Commander of the Order of the Niger, the country's second-highest national honor, describing Modi as a representation of a "very strong commitment to democratic values and norms."

"Nigeria values its excellent relationship with India and will work to broaden the same for the mutual benefits of our two friendly countries," Tinubu said.

As Africa has become a theatre of competition between the US, Europe, as well as Russia, Turkey and especially China, India too has sought to make some inroads in the continent.

Ahead of the trip, Modi's office boasted that more than 200 Indian companies had invested $27 billion (€25.6 billion) in Nigerian manufacturing, becoming major employers.

Nigeria is also India's largest trading partner in Africa with total bilateral trade estimated at $14.9 billion in 2022.

At least 60,000 Indian nationals and 200 Indian companies are present in Nigeria, authorities say.

DW