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Understanding the Significance of Nigeria in India’s Foreign Relations

India, Nigeria, Foreign Relations, Trade, Military
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Hello, Annie welcome you to the study. I am Prashant Dhawan. Today, the Prime Minister of India has left for a foreign tour of three very important countries. The first country is Nigeria, which is Africa’s most populous and oil rich country. After this, he will go to Brazil and Guyana. The Indian diaspora is very large in Guyana. First of all, PM Modi has gone to Nigeria, where Nigeria has given him its second highest civilian award, ‘Grand Commander of the Order of the Niger’.

PM Modi receives award in Nigeria

Interestingly, the last time Nigeria gave such an award to a foreigner was in 1969, when Queen Elizabeth received this award. Since then, many big world leaders have come, but no one has received this honor. This shows how much importance Nigeria gives to the Prime Minister of India. PM Modi has also shared the highlights of his visit on social media.

This visit of the Prime Minister of India after 17 years is special for Nigeria. PM Modi said on this occasion, “I am confident that our talks today will add a new chapter to our relations.” He dedicated this honor to 140 crore Indians and the deep friendship between India and Nigeria.

PM Modi's speech in Nigeria

Nigeria is a very beautiful country, with a population of about 22 crores. This number is equal to the population of Pakistan. Recently, it has also been reported that many Indians, especially Marathi people, are doing business in Nigeria. Nigeria has also given the honour of a classical language to the Marathi language, for which PM Modi has thanked the Nigerian government.

But when we look at Nigeria from a geographical perspective, the first thing that comes to mind is oil. 90% of Nigeria’s revenue comes from oil. The land here is not so fertile and no special industry has developed. Corruption is also a big issue. But Nigeria is lucky that crude oil is available here, which is the main source of government revenue.

Oil revenue statistics of Nigeria

Nearly 90% of Nigeria’s foreign exchange earnings also come from oil. It has no other major industry. If we talk about Nigeria’s proven oil reserves, it is one-third of Russia’s. I believe India should buy oil from Nigeria. There will always be a problem in trade with Russia, because ordinary Russians have a negative attitude towards India.

India has a huge opportunity in trade with Nigeria. Nigeria has expressed its desire to enter BRICS and is also ready to trade in local currency settlement. Nigeria can become an important partner for India, especially when it comes to defense equipment. Recently, Nigeria had signed a military deal of one billion dollars with India.

India-Nigeria military deal

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