Nigeria Eyes $27bn Trade Comeback With India by 2027, Says Envoy

Nigeria is targeting a rebound in bilateral trade with India to about $27 billion by 2027. The High Commissioner to India, Ambassador Saidu Dahiru Muhammad, disclosed the target in New Delhi during an interactive session with diplomatic correspondents covering the 2026 BRICS Summit.

Trade between the two countries stood at about $27 billion in 2022-23 before falling to approximately $14.95 billion in 2024-25. Muhammad blamed the decline on the absence of a substantive Nigerian head of mission in India for a period, global economic uncertainties and geopolitical tensions.

Trade Picking Up Again

The envoy said commercial activity has started to recover. Current trade figures, he said, sit between $8.7 billion and $8.9 billion.

"Trade has started picking up again. We are seeing figures between $8.7 billion and $8.9 billion, and we are optimistic that we can return to previous levels by the end of 2027," Muhammad said.

He said the Nigerian mission is prioritising trade and investment promotion to strengthen Nigeria-India relations, and urged Nigerian businesses to explore opportunities in India's rapidly expanding technology ecosystem.

Muhammad named agri-tech, health-tech, pharmaceutical technology and mining technology as areas with significant opportunities for Nigerian investors. He also listed renewable energy, manufacturing, healthcare, pharmaceuticals, the circular economy and the creative industry as sectors with strong potential for expanded cooperation.

"There are enormous opportunities for Nigeria to leverage India's technological expertise and manufacturing capacity for our economic development and industrial growth," he said.

Push for Medical Investment at Home

The High Commissioner called for stronger partnerships between Nigerian and Indian healthcare institutions and urged Indian investors to establish medical facilities in Nigeria.

He said such investments would cut the pressure of medical tourism by giving Nigerians access to quality healthcare at home, while also creating room to serve patients from other African countries.

Muhammad said the High Commission would work closely with the Nigerians in Diaspora Commission (NiDCOM), the Economic and Financial Crimes Commission (EFCC), the Nigerian Investment Promotion Commission (NIPC) and other agencies to strengthen information sharing, diaspora engagement and service delivery.

"We intend to work closely with agencies such as NiDCOM, the EFCC, NIPC and other relevant institutions to improve information sharing and service delivery," he said.

Students, Diaspora and Compliance

The mission is also stepping up engagement with Nigerians in India, especially students, business people and those travelling for medical purposes. Muhammad said the High Commission is upgrading its website and social media platforms, including LinkedIn, Instagram, Facebook and X, to provide timely information on travelling, studying and doing business in India.

The platforms will carry practical guidance on Indian laws, immigration requirements and cultural expectations. The mission also plans to engage universities across India to improve monitoring and welfare of Nigerian students from matriculation to graduation.

"We want to engage with students from the point of matriculation to graduation, stressing the importance of complying with visa conditions and remaining focused on their studies," he said.

A database of universities attended by Nigerians is being compiled, and prospective students will get information on legitimate institutions. Muhammad warned that non-compliance with local laws and immigration rules could expose Nigerians to legal and security challenges.

He added that closer cooperation between Nigerian and Indian diplomatic missions is easing the exchange of information on Nigerians travelling for education, healthcare and business. "We are using that synergy to let Nigerians know when they come. They think we don't know, but we already know they are here," he said.

For Nigerian businesses, the size of the Indian market and its strength in technology and manufacturing make it a key export and investment partner. A return to the 2022-23 trade level would depend heavily on how quickly the two sides convert these talks into deals.