By George Omagbemi
Vice-President Kashim Shettima has met Indian Prime Minister Narendra Modi in New Delhi as Nigeria and India seek to rebuild bilateral trade towards its previous peak of nearly $15 billion.
The meeting took place on Monday, September 14, 2026, on the sidelines of the recently concluded BRICS Leaders’ Summit. Modi called for renewed purchases of Nigerian crude oil, saying stronger energy ties could help restore trade between both countries to previous levels.
Bilateral trade stood at about $14.95 billion in 2021–2022 but declined to $7.13 billion in 2024–2025, largely following reduced Indian purchases of Nigerian crude. It subsequently recovered to approximately $9 billion in 2025–2026.
Shettima said Nigeria would consider Modi’s request as part of President Bola Ahmed Tinubu’s efforts to attract investment and build strategic economic partnerships.
He identified pharmaceuticals, defence, digital technology and creative industries as areas where Nigeria wants deeper cooperation with India, while also highlighting renewable energy, healthcare, fintech and skills development.
Shettima said Nigeria wants to move the relationship beyond the traditional exchange of commodities towards investments that support domestic production, value addition and job creation.
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