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PM Narendra Modi is visiting Nigeria on November 16-17, 2024, marking his first visit to Africa’s most populous country and second-largest economy.
The visit is significant because it aims to strengthen bilateral ties between India and Nigeria, addressing key issues like trade, defense, and economic cooperation.
India Nigeria relations
India is Nigeria’s second-largest trading partner with a trade volume of $7.9 billion and over 150 Indian companies operating in Nigeria with investments estimated at $27 billion.
India has a strong presence in Nigeria, from Airtel to Tata, and a significant Indian diaspora of 50,000 people, contributing to Nigeria's economy and society.
Both countries face similar issues like governance challenges, terrorism, corruption, and socio-economic development, making cooperation in these areas important.
India is a major buyer of Nigerian crude oil, but lacks upstream investments.
Defense and security cooperation, especially in counterterrorism, is another key area for partnership.
Nigeria retains its long-term attractiveness for India as a major hydrocarbon supplier, a large market with physical and social infrastructure deficit, and growth potential.
Importance of Strengthening Historical and Cultural Ties
The two nations share a deep historical bond, with early contact dating back to 1500 AD, when Baba Ghor, a gem merchant from Kano (Nigeria), settled in Gujarat, India.
India and Nigeria have complementary strengths in sectors like energy, defense, healthcare, and education, which can be used to build a stronger, enduring partnership.
Nigeria offers vast opportunities for India in areas such as hydrocarbons, infrastructure, defense supplies, and economic partnership agreements.
India can assist Nigeria with economic stabilization, defense upgrades, and trade expansion, especially in sectors like IT, pharmaceuticals, and consumer goods, to bolster bilateral trade and economic relations.
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