Business News/ News / World/  India and Nigeria hold Foreign Office Consultations

New Delhi played host to the second round of Foreign Office Consultations (FOC) between India and Nigeria on 29 September 2022 . According to a press statement by the Ministry of External Affairs, these discussions were “chaired by Shri Sevala Naik Mude, JS (C&WA), Ministry of External Affairs and Amb. Mustapha Tunde Mukaila, Director Regions, Ministry of Foreign Affairs of Nigeria."

“The visiting Nigerian delegation was led by H.E. Mr. Gabriel Aduda, Permanent Secretary, Ministry of Foreign Affairs of Nigeria. Permanent Secretary Aduda met Secretary (ER), Shri Dammu Ravi and both discussed various ways and means to further strengthen the multi-faceted relations that exists between the two countries," the statement also added.

Both parties evaluated every aspect of their bilateral relationship, including political, economic, commercial investments, defence and security, development partnerships, capacity building, cultural exchanges, and consular issues, during the FOC. Additionally, the two parties discussed regional and global topics of common interest and decided to strengthen their cooperation.

Both sides have been paying each other frequent visits. Over the years, the two nations have nurtured their defence cooperation, and India assisted Nigeria in establishing their defence academy. India gives more than 250 slots a year as part of ITEC’s capacity building programme, and these slots are being used to their full potential. Several prominent military officers from Nigeria, including two past presidents and the current leader, H.E. Mr. Muhammadu Buhari, were trained in India under this structure.

India and Nigeria enjoy a robust economic relationship with trade and investment expanding at a steady clip. According to figures released by the Ministry of External Affairs, “the bilateral trade during 2021-22 was US$14.95 bn, with India importing oil to the tune of US$10 bn." In addition, investment by Indian entities in Nigeria totals approximately US$ 19.3 billion.

According to the MEA, “more than 135 Indian companies are currently operating in Nigeria in diverse fields such as pharmaceuticals, engineering goods, electrical machinery and equipment, plastics, chemicals, etc. Both sides exchanged views on how to deepen trade links through use of national currencies, Development Projects and Institution building in a manner that would be mutually beneficial. India is the preferred destination for higher education and medical tourism to Nigerians. Over 50,000 Indian professionals are working in Nigeria contributing significantly to the economy of Nigeria."

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Updated: 02 Oct 2022, 09:13 PM IST
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