Indo-Nigerian relations

The bilateral relations between the Republic of India and the Federal Republic of Nigeria have considerably expanded in recent years with both nations building strategic and commercial ties. Nigeria supplies 20% of India's crude oil needs and is India's largest trading partner in Africa.

Background

Both nations were colonised by the British Empire; India supported independence of African countries from colonial rule and established its diplomatic mission in 1958 - two years before Nigeria officially gained independence from British rule.cite web |title=PM to visit Nigeria to enhance bilateral ties |url=http://www.rediff.com/news/2007/oct/09pm.htm |publisher=Rediff.com |date=2007-10-09 |accessdate=2008-06-21] cite web |title=Nigeria: "India's Exports Hit $875m" |url=http://allafrica.com/stories/200710140023.html |publisher=This Day (Lagos), allAfrica.com |date=2007-10-14 |accessdate=2008-06-21] cite web |title=India will continue on high growth rate path: PM |url=http://www.expressindia.com/latest-news/India-will-continue-on-high-growth-rate-path-PM/228551/ |publisher=Indian Express, Express India |date=2007-10-15 |accessdate=2008-06-21] cite web |title=Indo-Nigerian relations |url=http://www.meaindia.nic.in/foreignrelation/11fr12.pdf |format=PDF |publisher=Ministry of External Affairs (India) |accessdate=2008-06-21] Since the restoration of democracy in 1998, Nigeria has joined India in becoming the largest democracies in their respective regions with diverse religious and ethnic populations. They possess diverse natural and economic resources and are the largest economies in their respective regions. Both are members of the Commonwealth of Nations, G-77 and the Non-Aligned Movement (NAM).cite web |title=Indian Prime Minister to visit Nigeria |url=http://www.mynaijanews.com/content/view/754/2/ |publisher=My Naija News |date=2007-10-11 |accessdate=2008-06-21]

Development of bilateral relations

After Nigeria's independence, both nations sought to develop strong relations. In 1962, the Indian Prime Minister Jawaharlal Nehru made a state visit to Nigeria. In 1999, the democratically-elected President of Nigeria Olusegun Obasanjo made a state visit to India and was the chief guest at India's Republic Day celebrations. In 2007, Indian Prime Minister Dr. Manmohan Singh became the first Indian leader to visit Nigeria in 45 years and addressed a joint session of the Parliament of Nigeria.cite web |title=PM Manmohan Singh to visit Nigeria, South Africa |url=http://timesofindia.indiatimes.com/India/PM_Manmohan_Singh_to_visit_Nigeria_South_Africa/articleshow/2454693.cms |publisher=Times of India |date=2007-10-13 |accessdate=2008-06-21]

Commerce

Since the restoration of democracy in Nigeria in 1998-99, its trade with India has increased substantially - climbing from USD 293.71 million in 1999-00 to USD 875 million in 2005-06. As of 2007, the value of bilateral trade was estimated between USD 6-7.9 billion. Exports to India accounted for USD 3.9 billion between April and September, 2006. Crude oil accounts for 96% of India's imports from Nigeria, with India buying as many as 40,000 barrels of crude oil per day from Nigeria. India's exports to Nigeria were valued at USD $875 million in 2005/06. Indian companies have invested heavily in Nigeria in manufacturing, pharmaceuticals, plastics, engineering, information technology and communications. Indian companies have invested in the Ajaokuta Iron and Steel Industry as well as Aladja Steel Complex in Delta. Nigeria has actively encouraged Indian companies to invest and expand Nigeria's mining and development of coal, gold, iron ore, chrome ore, lead and other mineral resources.cite web |title="Nigeria ready to partner India in mining" |url=http://www.thehindubusinessline.com/2007/10/17/stories/2007101750901200.htm |publisher=The Hindu Business Line |date=2007-10-17 |accessdate=2008-06-21]

References