Nigeria and India have agreed to deepen their strategic economic relationship, aiming to rebuild bilateral trade towards its 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. India is also seeking renewed purchases of Nigerian crude oil. A statement by the Vice President's spokesman, Stanley Nkwocha, noted that bilateral trade stood at about $14.95 billion in the 2021-2022 financial year before declining due to reduced Indian purchases of Nigerian crude, dropping to $7.13 billion in 2024-2025 and recovering to about $9 billion in 2025-2026.
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