Trade and investment between India and Nigeria

This article covers trade and economic links between India and Nigeria: Nigeria's trade with India, year-by-year trade figures, trade promotion by the Indian High Commission and the mechanisms that review commercial relations. It is based on the MEA brief of April 2026, and the figures are given as they appear there.

India's place in Nigeria's trade

According to the MEA brief of April 2026, in the year 2025 India was at 2nd place among the top 5 export destinations of Nigeria, after the Netherlands. As a source of Nigeria's imports, India was at 4th place, after China, the US and the Netherlands.

The brief gives the bilateral trade volume between Nigeria and India as 7.1 billion US dollars for the year 2024-2025.

Trade figures by year

The brief gives the following India-Nigeria bilateral trade statistics, taken from the Department of Commerce website (DGCIS), with values in US$ million:

2020-21: India's exports 3,134.89, imports 5,672.38, trade 8,807.27
2021-22: India's exports 4,663.17, imports 10,291.58, trade 14,954.75
2022-23: India's exports 5,159.44, imports 6,692.65, trade 11,852.09
2023-24: India's exports 3,663.49, imports 4,229.81, trade 7,893.30
2024-25: India's exports 2,945.50, imports 4,192.22, trade 7,132.72
January to December 2025: India's exports 3163.46, imports 5432.77, trade 8596.23

The figures for 2020-21 to 2024-25 are for financial years, while the last column of the brief's table covers the calendar year from January to December 2025.

Readers looking for product-level or investment data should consult the official trade statistics of the two governments.

Trade promotion by the High Commission

During 2025-26, the High Commission of India participated in or organised 18 business events, trade shows, road shows, B2B meetings and other meetings, covering areas such as CII, ODOP, defence and trade fairs. It organised an India Trade Expo to showcase the presence of over 200 India companies in Nigeria.

The High Commission also regularly provides in-depth sectoral analysis of economic and industrial data on Nigeria. According to the brief, the aim is to give policy makers and companies an edge in making business decisions and to enhance exports to Nigeria.

Joint Trade Committee

In 2017, India and Nigeria agreed to establish a Joint Trade Committee (JTC) to review bilateral trade and commercial relations. It meets at the level of the Commerce Secretary on the Indian side and the Permanent Secretary (Trade) on the Nigerian side.

As of the brief, the JTC had met twice:

1st meeting, December 2019, New Delhi
2nd meeting, April 2024, Abuja

Nigeria-India Business Council

Shri V. Muraleedharan, Minister of State for External Affairs, visited Abuja on 22-23 August 2022 to attend the inaugural event of the Nigeria-India Business Council (NIBC).

Economic ministers at the G20 Summit

When President Bola Ahmed Tinubu attended the G20 Leaders' Summit in New Delhi from 5-10 September 2023, he was accompanied by several ministers with economic portfolios:

Dr. Doris Uzoka Anite, Minister of Industry, Trade and Investment
Mr. Wale Edun, Minister of Finance
Mr. Olatunbosun Tijani, Minister of Communication & Digital Economy
Mr. Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, Senator

Customs cooperation

During the Prime Minister's State visit to Nigeria in November 2024, the two governments signed a Memorandum of Understanding between the Government of the Republic of India and the Government of the Federal Republic of Nigeria on Cooperation and Mutual Assistance in Custom Matters.

Trade and investment, energy security and food security were among the areas discussed during that visit, as set out in the relations article. India's concessional Lines of Credit to Nigeria are covered in the development article.

Since the brief of April 2026

Later developments in India and Nigeria relations, from MEA publications, newest first. The article above reports the brief at its date.

Questions and answers

What was the value of India-Nigeria trade in 2024-25?

According to the MEA brief of April 2026, bilateral trade was 7,132.72 US$ million in 2024-25, with India's exports at 2,945.50 and imports at 4,192.22 US$ million. The brief also gives the trade volume as 7.1 billion US dollars for 2024-2025.

Where does India rank in Nigeria's trade?

In 2025, India was at 2nd place among the top 5 export destinations of Nigeria, after the Netherlands, and at 4th place in Nigeria's imports, after China, the US and the Netherlands.

How many Indian companies are there in Nigeria?

The brief says the High Commission of India organised an India Trade Expo to showcase the presence of over 200 India companies in Nigeria.

Sources

This article reports what the sources state at their date and does not add facts from elsewhere. Figures, office holders and agreements may have changed since. Diplo is independent and not affiliated with any government. Suggest a correction.