Trade between India and Nigeria increased by 26 per cent to about $9 billion in 2025–26, up from $7.13 billion in 2024–25, reflecting deeper economic cooperation between both countries.
The growth in bilateral trade is increasingly extending beyond oil and commodities into areas such as manufacturing, healthcare, energy, technology and job creation.
The Indian High Commissioner to Nigeria, Abishek Singh, disclosed that more than 200 Indian companies currently operate in Nigeria and have generated nearly 100,000 jobs.
He said Indian businesses have become the second-largest employers of Nigerians after the Federal Government.
The growing presence of Indian firms also points to a shift from an export-focused relationship towards increased local production. Several Indian companies are establishing manufacturing and production facilities in Nigeria, with investments spanning pharmaceuticals, electricity, construction, consumer goods, healthcare and other sectors.
Healthcare has emerged as one of the key areas of cooperation between the two countries.
India’s Deputy High Commissioner to Nigeria, Vertika Rawat, said Indian pharmaceutical exports to Nigeria stood at $315 million in 2024–25. She added that India supplies about 40 per cent of Nigeria’s pharmaceutical imports, with its share exceeding 90 per cent in some medicine categories.
Rawat also estimated Indian investment in pharmaceutical manufacturing in Nigeria at about $4 billion, as companies increasingly seek to manufacture medicines locally rather than depend primarily on finished-product imports.
The development is expected to create more skilled jobs, strengthen supply chains and expand Nigeria’s domestic manufacturing capacity.
Nigeria and India have maintained economic relations for more than 60 years, with the partnership elevated to a Strategic Partnership in 2007.
Political ties have also strengthened in recent years. President Bola Tinubu visited India for the G20 Summit in 2023, while Prime Minister Narendra Modi visited Nigeria in November 2024.
In addition to private-sector investments, India has supported Nigeria through development assistance, concessional financing and technical training under its Indian Technical and Economic Cooperation programme.
The expanding partnership is expected to provide Nigeria with greater access to Indian capital, technology and expertise, while supporting efforts to increase productive capacity and promote local manufacturing.
