RismadarVoice Reporters, August 17, 2026
Bilateral trade between Nigeria and India increased by 26 per cent to approximately $9 billion in the 2025–26 financial year, up from $7.13 billion the previous year, as both countries deepen economic cooperation beyond traditional oil and commodity trade.
The Indian High Commissioner to Nigeria, Abishek Singh, disclosed that more than 200 Indian companies currently operate in Nigeria and have generated close to 100,000 jobs.
According to Singh, Indian businesses are now the second-largest employers of Nigerians after the Federal Government, highlighting the growing role of Indian investment in the country’s economy.
The expanding presence of Indian companies also reflects a gradual shift from an export-focused relationship towards increased local production. Businesses from India are investing in manufacturing and production facilities across sectors including pharmaceuticals, electricity, construction, consumer goods and healthcare.
Healthcare has emerged as one of the major areas of bilateral cooperation.
India’s Deputy High Commissioner to Nigeria, Vertika Rawat, said Indian pharmaceutical exports to Nigeria were valued at $315 million in 2024–25.
She said India accounts for about 40 per cent of Nigeria’s pharmaceutical imports and more than 90 per cent of imports in some categories of medicines.
Rawat also estimated Indian investment in pharmaceutical manufacturing facilities in Nigeria at about $4 billion, reflecting efforts by companies to expand domestic production and reduce reliance on imported finished medicines.
The growing investment is expected to contribute to skilled employment, improve supply chains and strengthen Nigeria’s capacity to manufacture essential products locally.
Economic relations between Nigeria and India date back more than six decades and were elevated to a Strategic Partnership in 2007.
Political ties have also grown in recent years. President Bola Tinubu visited India for the G20 Summit in 2023, while Indian Prime Minister Narendra Modi paid a visit to Nigeria in November 2024.
Beyond private-sector investment, 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 domestic production and diversify the economy.
