Nigeria, India to Strengthen Ties in Fintech, Science, Solar Energy

August 17, 2022
strengthen ties

By Adedapo Adesanya

Nigeria and India are moving to strengthen ties from traditional business cooperation to new areas as part of efforts to further bolster bilateral relations between both countries.

This was disclosed by the newly appointed Indian High Commissioner to Nigeria, Mr Gangadharan Balasubramanian, during the commemoration of India’s 76th Independence Day in Abuja.

Mr Balasubramanian said that the new areas of cooperation will include fintech, artificial intelligence, scientific development, and solar energy.

The High Commissioner noted that the trade and economic relations between India and Nigeria have been very strong, with over 135 Indian companies operating in Nigeria.

He added that the volume of trade between both countries has increased on both sides after the COVID-19 pandemic.

“The trade volume between India and Nigeria was $14.95 billion in 2021. The trade volume has increased substantially after COVID-19, both ways.

“India is a major importer of oil from Nigeria. Nearly $10 billion worth of oil is being imported from Nigeria.

“India also exports various issues from agricultural products, to petroleum products, to pharmaceuticals, to textiles.

“So, there is a large possibility of increasing this trade and economic cooperation between our two countries,” Mr Balasubramanian said.

He noted that since 1958 when the two countries established diplomatic ties, their relationship has remained one of the best.

“Since then, our relationship has developed in multi various ways, almost in all places.

“Human capacity development is one of the most important areas on which we are concentrating on.

“And we are very happy that with the assistance and cooperation of successive Nigerian governments, we can now say that our relationship is very strong and very cordial,” Mr Balasubramanian said.

He added that the two countries have established positive military cooperation, including the training of military personnel.

The envoy said his country will be happy to continue with the partnership and cooperation with Nigeria.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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