Edit Content
Edit Content

Catch Up....

Nigeria, India strengthen strategic partnership to boost economy, others 

Nigeria and India have solidified their strategic partnership, pledging to enhance collaboration in critical sectors such as economic development, defence, healthcare, and food security.

This renewed commitment was announced in a joint statement issued in Abuja on Sunday, following Indian Prime Minister Narendra Modi’s state visit at the invitation of President Bola Tinubu.  

The historic visit featured a ceremonial welcome at the Presidential Villa, including a 21-gun salute, after which both leaders engaged in private discussions and co-chaired an expanded bilateral meeting.  

President Tinubu and Prime Minister Modi agreed to bolster cooperation in counterterrorism, maritime security, and intelligence sharing. With growing security concerns in the Gulf of Guinea and the Indian Ocean, both nations pledged coordinated efforts to safeguard maritime trade routes and combat piracy.  

Regular naval exercises and joint anti-piracy operations in the Gulf of Guinea will continue, reflecting their shared commitment to protecting critical maritime routes. 

The leaders condemned all forms of terrorism and called for the adoption of a Comprehensive Convention on International Terrorism under the UN framework.  

Prime Minister Modi reaffirmed India’s readiness to support Nigeria’s defence modernization, highlighting India’s expertise as a trusted defence equipment manufacturer.  

The two leaders celebrated the robust economic ties between Nigeria and India, with India recognized as Nigeria’s largest trading partner. 

“Over 200 Indian companies currently operating in Nigeria have contributed significantly to employment and investment opportunities”, he said. 

To expand bilateral trade, officials were directed to finalize key agreements, including the Economic Cooperation Agreement (ECA), the the Double Taxation Avoidance Agreement (DTAA), and the Bilateral Investment Treaty (BIT).  

The partnership also reflects progress from President Tinubu’s visit to India during the G20 Leaders’ Summit in September 2023, where Indian investors committed over $14 billion to Nigeria’s economy. 

These investments, spanning industrialization, energy, telecommunications, and defence, are set to accelerate Nigeria’s economic growth.  

Both nations agreed on long-term contracts for crude oil and liquefied natural gas (LNG) supply. India also pledged technical support for pipeline security, compressed natural gas (CNG) conversion, and liquefied petroleum gas (LPG) distribution.  

India further expressed its commitment to supporting Nigeria’s infrastructure development through concessional credit lines and technical expertise.  

The discussions extended to food security, agriculture, health, education, and cultural exchanges, reflecting a shared vision for sustainable development and enhanced people-to-people ties.  

Share

For You

Leave A Reply

Exit mobile version