Nigeria and India have reaffirmed their commitment to a robust strategic partnership, pledging to strengthen ties in key areas including economic development, defence, healthcare and food security.
This is part of the resolution after the Indian Prime Minister Narendra Modi’s state visit to Nigeria at the invitation of President Bola Tinubu.
During their bilateral discussion, the two leaders agreed to collaborate in counterterrorism, maritime security, and intelligence sharing.
The two countries also agreed to coordinate actions to safeguard maritime trade routes and combat piracy following growing threats in the Gulf of Guinea and the Indian Ocean.
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‘’The leaders reiterated their unequivocal condemnation of terrorism in all its forms and manifestations including the cross-border movement of terrorists and terror financing networks and safe havens.
‘’They called for zero tolerance to terrorism and expeditious finalisation and adoption of the Comprehensive Convention on International Terrorism in the UN Framework as well as implementation of the UNGA and the UNSC resolutions on countering terrorism and violent extremism.
‘’It was agreed to enhance cooperation in the area of counter-terrorism,’’ a joint statement issued after the meeting said.
Prime Minister Modi reiterated India’s readiness to support Nigeria’s defence modernisation efforts, highlighting India’s emergence as a trusted defence manufacturer.
The two leaders also highlighted the vibrant economic relationship between India and Nigeria, with India positioned as Nigeria’s largest trading partner and a significant contributor to its economy.
Nigeria commended the contributions of over 200 Indian companies operating in the country, which have generated substantial employment and investment opportunities.
On bilateral trade expansion, both leaders directed their officials to finalise pending agreements, including the Economic Cooperation Agreement (ECA), Double Taxation Avoidance Agreement (DTAA), and the Bilateral Investment Treaty (BIT), to boost trade and investment.
They noted with satisfaction ‘’the fruitification of some of the investments’’ agreed to by the Indian companies during the visit of President Tinubu to India in September 2023, and committed to facilitating early finalization of the remaining investments.
On the sidelines of the G20 Leaders’ Summit held from September 9th-10th, 2023, in New Delhi, the Nigeria-India Presidential Roundtable and Business Conference took place, where Indian investors pledged a combined total of over $14 billion across critical sectors of the Nigerian economy.
The investments were targeted at the industrialisation, energy, telecommunications, and defence sectors.
On infrastructure development, the joint statement arising from Prime Minister Modi’s state visit stated that India reaffirmed its commitment to supporting Nigeria’s development priorities through concessional lines of credit and technical expertise.
On energy collaboration, Nigeria and India agreed on long-term contracts for crude oil and LNG supply and technical support in pipeline transmission security, CNG conversion and LPG bottling distribution.
Meanwhile, India and Nigeria, on Friday, signed three Memorandum of Understanding (MoUs) as part of the efforts to bolster the bilateral relations between the two countries.
The agreements are on cultural exchange, survey cooperation and cooperation in customs.
The Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dumoma Umar Ahmed, signed on behalf of Nigeria while the Secretary of Economic Relations, Mr Dammu Ravi, signed on behalf of India.
Ahmed said the success of the agreements depended on the level of commitment from both parties.
“I am confident that the relevant stakeholders from both countries will work together to ensure the realization of this great milestone for the benefit of our people,” he said.
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