Nigeria and India have agreed to deepen their strategic economic relationship, with India seeking renewed purchases of Nigerian crude oil as both countries work to rebuild bilateral trade towards a previous high of nearly $15 billion. The commitment followed a bilateral meeting between Vice-President Kashim Shettima and Indian Prime Minister Narendra Modi on the sidelines of the BRICS Leaders' Summit in New Delhi. Bilateral trade stood at about $14.95 billion in the 2021-2022 financial year before declining, dropping to $7.13 billion in 2024-2025 and recovering to about $9 billion in 2025-2026, according to figures disclosed by the Indian High Commissioner to Nigeria, Abhishek Singh. Prime Minister Modi made a case for renewed crude purchases from Nigeria.
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