Nigeria aims for $27 billion trade revival with India by 2027 – Envoy

Nigeria is targeting a revival of bilateral trade with India to around $27 billion by 2027, High Commissioner to India Ambassador Saidu Dahiru Muhammad has said.

Muhammad disclosed this in New Delhi during an interactive session with diplomatic correspondents at the 2026 BRICS summit, saying the Nigerian mission was working to deepen economic relations with India and attract investments in key sectors of the Nigerian economy.

According to the envoy, trade between Nigeria and India amounted to about $27 billion in 2022-23 before declining to about $14.95 billion in 2024-25.

The envoy attributed the decline to several factors, including the absence of a substantive Nigerian head of mission in India for a period, global economic uncertainties and geopolitical tensions.

However, he said business activities have started to recover, with current trade figures estimated at between $8.7 billion and $8.9 billion.

“Trade has started to recover again. We are seeing figures between $8.7 billion and $8.9 billion and we are optimistic that we can get back to previous levels by the end of 2027,” Muhammad said.

He said the mission was prioritizing the promotion of trade and investment as part of efforts to strengthen Nigeria-India relations, urging Nigerian businesses to explore opportunities in India’s rapidly expanding technology ecosystem.

Muhammad identified agrotechnology, healthcare technology, pharmaceutical technology and mining technology as areas with significant opportunities for Nigerian investors.

He also highlighted renewable energy, manufacturing, healthcare, pharmaceuticals, circular economy and creative industry as sectors with strong potential for expanding bilateral cooperation.

“There are huge opportunities for Nigeria to leverage India’s technological expertise and manufacturing capacity for our economic development and industrial growth,” he said.

The High Commissioner specifically called for stronger partnerships between Nigerian and Indian healthcare institutions, urging Indian investors to set up medical facilities in Nigeria.

He said such investments would help reduce medical tourism pressure by providing Nigerians with access to quality healthcare services at home while also creating opportunities to serve patients from other African countries.

Muhammad said the Nigerian High Commission would work closely with the Nigerian Commission in the Diaspora (NiDCOM), the Economic and Financial Crimes Commission (EFCC), the Nigerian Investment Promotion Commission (NIPC) and other government agencies to strengthen information sharing, diaspora engagement and service delivery.

“We intend to work closely with agencies such as NiDCOM, EFCC, NIPC and other relevant institutions to improve information sharing and service delivery,” he said.

The envoy said the mission was also intensifying efforts to engage Nigerians living in India, especially students, businessmen and those traveling for medical purposes.

He revealed that the High Commission was updating its website and social media platforms, including LinkedIn, Instagram, Facebook and X, to provide Nigerians with timely information on travel, studies and business in India.

According to him, the updated platforms would provide practical guidance on Indian laws, immigration requirements, cultural expectations and other issues relevant to Nigerians traveling to the country.

Muhammad also revealed plans to engage universities across India to improve the tracking and well-being of Nigerian students from matriculation to graduation.

“We want to engage with students from the moment they enroll until they graduate, emphasizing the importance of abiding by visa conditions and staying focused on their studies,” he said.

He said the mission was compiling a database of universities attended by Nigerians and would provide prospective students with information on legitimate institutions.

The High Commissioner also urged Nigerians residing in India to respect local laws and immigration regulations, warning that failure to do so could expose them to legal and security challenges.

“Whenever they have access to us, we insist on the need to respect the rules. Respecting the rules will help them avoid legal and security challenges,” he said.

He added that the mission encourages Nigerians who have experienced difficulties in India to share their experiences with potential travelers and students to help others avoid similar challenges.

Muhammad said closer cooperation between the Nigerian and Indian diplomatic missions is also facilitating the exchange of information on Nigerians traveling to India for education, healthcare and business purposes.

“We are using this synergy to let Nigerians know when they are coming. They think we don’t know, but we already know they are here,” he said.