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Trade between Nigeria, India Hits $14.95b in 2021, says High Commissioner

He claimed nearly $10 billion worth of oil is imported from Nigeria. In addition, India exports a wide range of goods, including textiles, petroleum products, pharmaceuticals, and agricultural goods.

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According to Gangadharan Balasubramanian, the Indian High Commissioner to Nigeria, commerce between the two nations totaled $14.95 billion in 2021.

Balasubramanian disclosed this during the 76th independence day of India,  in Abuja.

Even though more than 135 Indian enterprises were present in Nigeria, he emphasized that trade and commercial ties between the two countries were already robust.

He noted that India was a significant importer of oil from Nigeria and claimed that trade volume had expanded significantly on both sides of the border after COVID-19.

He claimed nearly $10 billion worth of oil is imported from Nigeria. In addition, India exports a wide range of goods, including textiles, petroleum products, pharmaceuticals, and agricultural goods.

“Therefore, there is a great chance of expanding this trade and economic cooperation.”

According to Gangadharan Balasubramanian, the Indian High Commissioner to Nigeria, commerce between the two nations totaled $14.95 billion in 2021.

“Since then, our relationship has evolved in a variety of ways, practically everywhere,” he remarked.

“One of the most crucial areas on which we are focusing is the development of human capability, and we are delighted that, with the support and cooperation of successive Nigerian governments, we can now declare that our connection is quite solid and very warm.”

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Regarding Nigeria’s security issues, the envoy also mentioned the military and defense cooperation between the two countries, which saw a significant amount of Nigerian military officers’ defense training take place in military installations and training institutes in India.

Balasubramanian added that India will be happy to continue with the partnership and in cooperation with the Federal Government, India is ready to assist in that direction.

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Justice Okamgba functions as CONTENT STRATEGIST for TechEconomy.ng with penchant for content planning, development, analysis, management, and measurement. Contact: [email protected]

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