Nigeria and India have agreed to strengthen strategic economic ties, with India seeking to resume crude oil purchases from Nigeria. 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 to $7.13 billion in 2024-2025, and recovered to about $9 billion in 2025-2026. Both countries also agreed to expand cooperation in defence, pharmaceuticals, digital technology, fintech, renewable energy and creative industries.
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