India’s Presence and Complementarities with Nigeria

• India has over 150 companies in Nigeria, with investments estimated at $27 billion.

• Both democracies face similar issues: improved governance, socio-economic development, terrorism, and corruption.

• Strategic areas of complementarity include hydrocarbons, defence, institution building, healthcare, and education.

• India’s hard and soft power in Nigeria has lost ground over the past decade.

• India lacks upstream assets in Nigeria.

• India needs to leverage the local Indian diaspora.

• India and Nigeria can forge a win-win synergy.

• Nigeria faces economic and security headwinds.

• President Bola Tinubu has confronted national challenges with measures like withdrawing petroleum subsidies and freeing the national currency.

• Despite the current eco-political conundrum, Nigeria retains its long-term attractiveness as a major hydrocarbon supplier.

• India can help Nigeria upgrade its defence and security services.

• Other complementarities to be leveraged include importing palm oil, hides and skins, ginger, and Gum Arabic.