PM Modi’s visit to Nigeria: Immense scope for cooperation
Nigeria is an important destination for Indian business and there is great potential to explore. PM Modi’s visit should raise the relations to a new level
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At the invitation of the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, Prime Minister Narendra Modi will visit the African nation from 16-17 November, 2024. It is part of PM Modi’s three-nation tour to Nigeria, Brazil, and Guyana. This will be the first visit by an Indian PM in 17 years. He will be the fourth PM after Jawaharlal Nehru (September 1962), Atal Bihari Vajpayee (December 2003) and Manmohan Singh (October 2007) to visit the most populous African country. During the visit, the Prime Minister will hold talks to review the strategic partnership between India and Nigeria and discuss further avenues to enhance the bilateral relationship. He will also address a gathering of the Indian community in Nigeria.
Economic Cooperation
Both India and Nigeria possess diverse natural and economic resources and are the largest economies in their respective regions. Nigeria’s 2022 GDP was $477 billion. India is the largest trading partner of Nigeria and Nigeria is India’s largest trading partner in Africa. India is Nigeria’s leading investor, with an investment base of about $20 billion. The bilateral trade volume between Nigeria and India has touched $15 billion for the financial period 2021-2022 which represents an increase of 69.80 percent from previous year.
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