India and Nigeria are working to restore their trade relationship to its previous peak of nearly $15 billion, with Prime Minister Narendra Modi pushing for increased crude oil purchases from Nigeria. The discussions took place during the BRICS Leaders’ Summit in New Delhi, where Modi met with Nigerian officials to explore ways to strengthen economic ties.
India has shown interest in resuming oil imports from Nigeria, a key supplier in the past. The talks also covered cooperation in defense, pharmaceuticals, digital technology, fintech, renewable energy, and creative industries. Both nations aim to expand collaboration in these areas to boost mutual economic growth.
The meeting follows recent high-level interactions between India and China, where energy cooperation was a key topic. Nigeria’s officials expressed hope that renewed trade would help stabilize their economy and create jobs. India’s focus on energy security and economic diversification has made Nigeria an important partner in its regional strategy.
The goal is to rebuild the trade relationship that once reached $15 billion annually. Both sides are looking to address challenges such as infrastructure gaps and market access to ensure long-term economic benefits.
