By Monojit Das
Over the past two years, the relationship between India and Nigeria has blossomed into a robust partnership marked by mutual respect, cooperation, and shared goals. The foundation for this burgeoning friendship was laid during the historic meeting between H.E. Mr. Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, and Prime Minister Shri Narendra Modi on September 10, 2023, on the sidelines of the G20 Summit in New Delhi.
This meeting marked a turning point in bilateral relations, setting the stage for enhanced collaboration across various sectors.
President Tinubu’s congratulatory remarks to Prime Minister Modi on the success of India’s G20 Presidency and India’s advocacy for the Global South resonated deeply, reflecting a shared commitment to promoting the interests of developing nations on the global stage. The subsequent discussions between the leaders paved the way for an expansive framework of cooperation, spanning trade and investment, defense, agriculture, financial technology, and capacity building.
The momentum gained from this high-level engagement was further solidified during the visit of India’s Foreign Minister, Dr. S Jaishankar, to the India-Nigeria Joint Commission meeting in January 2024. Co-chairing the 6th Joint Commission Meeting with his Nigerian counterpart, Yusuf Tuggar, Dr. Jaishankar reaffirmed both countries’ commitment to strengthening bilateral ties across a spectrum of sectors. The discussions underscored the vast potential for collaboration in areas such as people-to-people exchange, energy, mobility, and consular cooperation.
One of the recent milestones in this evolving relationship was the productive trade discussions held in Abuja during the 2nd Session of the India-Nigeria Joint Trade Committee held last month. Delegates from both countries convened to finalize the Local Currency Settlement System Agreement, a significant step towards facilitating smoother trade transactions.
The identified areas of focus, including the digital economy, crude oil, natural gas, and pharmaceuticals, reflect the depth and diversity of the bilateral partnership.
India’s engagement with Nigeria goes beyond economic cooperation; it is a testament to the shared values and aspirations of two vibrant democracies.
With Nigeria emerging as India’s second-largest trading partner in Africa, bilateral trade has seen steady growth, reaching $11.8 billion in FY 2022-23. While the figures for 2023-24 indicate a slight decline to $7.89 billion, the trajectory remains promising, fueled by the exchange of investments and expertise.
The potential for collaboration extends beyond traditional sectors, with both countries recognizing the wealth of talent and expertise in emerging fields like technology and startups. India’s thriving startup ecosystem, coupled with Nigeria’s burgeoning tech industry, presents opportunities for innovation and entrepreneurship collaboration.
Leveraging the rich pool of young talent and fostering cross-border partnerships between India and Nigeria holds immense potential for unlocking new avenues of growth and development. Both countries boast vibrant youth populations teeming with creativity, innovation, and entrepreneurial spirit. Facilitating exchanges and collaborations between young professionals, entrepreneurs, and innovators from diverse backgrounds can catalyze innovation across various sectors, including technology, healthcare, agriculture, and renewable energy.
Joint initiatives such as startup incubators, technology parks, and skill development programs can nurture the next generation of leaders and change-makers, driving economic growth, job creation, and sustainable development in both countries.
Additionally, cross-border partnerships can facilitate knowledge transfer, capacity building, and the sharing of best practices, enabling each nation to address common challenges more effectively while capitalizing on emerging opportunities in the global marketplace. By harnessing the energy and ingenuity of their youth populations through collaborative initiatives, India and Nigeria can forge a path towards inclusive and resilient development, unlocking their full potential as dynamic engines of growth in the 21st century.
As India and Nigeria deepen their friendship and expand their cooperation, they are not only strengthening bilateral ties but also contributing to the broader agenda of promoting multipolarity and diversity in the global order. This commitment is underscored by discussions within BRICS, reflecting a shared vision for a more equitable and inclusive international economic system.
Both nations recognize the need to diversify trade away from the dominance of the US dollar, acknowledging the importance of fostering alternative mechanisms for financial transactions and economic partnerships. By aligning their efforts, India and Nigeria aim to amplify the voices of developing nations and advocate for a fairer distribution of power and resources on the global stage.
The fostering friendship between India and Nigeria stands as a testament to the power of diplomacy and partnership in addressing common challenges and advancing shared interests. Building on the foundations laid over the past two years, both nations have the opportunity to chart a path of prosperity and progress not only for themselves but also for the entire Global South.
The collaborative endeavors initiated between the two countries across various sectors, including trade, investment, technology, and education, exemplify their commitment to mutual growth and development. By deepening engagement and leveraging each other’s strengths, India and Nigeria can unlock new avenues for cooperation and set a positive example for South-South collaboration.
The collaboration can also be extended to the arena of disaster management, given the increasing frequency and severity of natural disasters, there is a pressing need for collaborative efforts in preparing joint disaster preparedness programs between India and Nigeria. India’s National Institute of Disaster Management (NIDM) possesses robust expertise and experience in disaster risk reduction and management, which it can readily share and learn from the best practices of Nigeria. Collaborative initiatives could include knowledge exchange programs, training workshops, and joint exercises aimed at enhancing capacity building and response capabilities. By leveraging India’s knowledge and resources, both countries can strengthen their resilience against natural disasters and other emergencies, mitigating the impact of such events and fostering greater solidarity and mutual support in times of crisis.
This collaborative approach to disaster preparedness not only benefits India and Nigeria but also serves as a model for regional and international cooperation in building resilient communities and safeguarding lives and livelihoods against the growing threat of natural hazards.
The future of India and Nigeria relations shines brightly as both nations deepen their cooperation across various sectors, from trade and investment to technology and innovation. With shared values, a commitment to mutual growth, and a vibrant exchange of ideas, India and Nigeria are poised to unlock new avenues of prosperity and progress for their people and the Global South.
Monojit Das PhD, a Geopolitical Researcher in India, write for ProwlingEagles
