Indian Prime Minister, Shri Narendra Modi, has expressed appreciation to the Federal Government for protecting and peacefully hosting about 80,000 Indians living and working in Nigeria.
Modi conveyed the appreciation during a meeting with Nigeria’s Vice President, Kashim Shettima, on the sidelines of the BRICS Summit in New Delhi, India.
The meeting focused on strengthening bilateral relations and expanding economic cooperation between Nigeria and India across critical sectors, including oil and gas, renewable energy, defence, power, technology, healthcare, clean energy and capacity building.
The Indian Prime Minister, while acknowledging Nigeria’s hospitality towards the Indian community, also made a case for renewed crude oil purchases from Nigeria as part of efforts to deepen trade between the two countries.
Modi noted that bilateral trade, which had reached about $14 billion in previous years, had declined to approximately $9 billion annually, stressing the need for both countries to take steps to reverse the trend.
He said increased Indian purchases of Nigerian crude would help boost trade and strengthen the economic partnership between the two countries.
Responding, Vice President Shettima assured the Indian leader that the Federal Government would look into the request, while highlighting areas where Nigeria is particularly interested in attracting Indian investments and expertise.
He identified pharmaceuticals, defence, the creative industry and digital technology as strategic sectors with significant potential for mutually beneficial partnerships.
Shettima said President Bola Tinubu’s administration was committed to developing these industries and leveraging foreign investments and strategic partnerships to create opportunities for millions of Nigerian youths.
The Vice President emphasised the importance of strengthening the longstanding relationship between Nigeria and India through increased investment, technology transfer, trade and human-capital development.