Indians now employ almost as many people in Nigeria as the government, and trade between both countries hits $9 billion

In 2024, Nigeria’s trade with the world’s most populous country, India, came in at $7.13 billion, according to the Indian High Commissioner to Nigeria, Abishek Singh.

The High Commissioner made the revelation in Nigeria’s capital, Abuja, on Wednesday, noting that 2025’s figures significantly surpassed the $7.13 billion recorded in 2024.

He further revealed that around 200 Indian companies operating in the West African country are responsible for the creation of 100,000 jobs, making India the second-largest employer of Nigerian workers after the country’s own government.

According to the High Commissioner, this expansion in trade reflects the strengthening strategic partnership between the two nations, extending beyond traditional oil trade and historical ties to encompass investment, security, technology, agriculture, healthcare, and energy, among other sectors.

“Very happy to report that the trade for the financial year 2025-26 stands at around US dollar 9 billion, which is up from US dollar 7.13 billion in the financial year 2024-25,” Singh said.

And that makes these Indian companies the second-largest employer of Nigerian people after the Federal Government of Nigeria,” he added.

According to Singh, Nigeria and India have had long-standing ties based on anti-colonial solidarity, South-South collaboration, and mutual support for the Global South’s voice.

“When I say Strategic Partnership, what does it mean? It means that India-Nigeria relations are no longer defined only by historical goodwill or oil trade,” he said.

The High Commissioner, as reported in The Punch, also revealed that the relationship between the two countries was evolving into a “multidimensional partnership” linking the heart of Africa with India.

Furthermore, the Indian official noted that his country has extended $395 million in concessional credit lines to Nigeria, alongside capacity-building initiatives administered through the Indian Technical and Economic Cooperation program.

Adding to what Singh had said, Vertika Rawat, India’s Deputy High Commissioner to Nigeria, disclosed that pharmaceutical exports to Nigeria reached $315 million in the 2024–2025 fiscal year, accounting for more than 40% of the country’s total pharmaceutical imports.

“India today supplies roughly 40% of Nigeria’s pharmaceutical imports, and for certain categories of medicine over 90%,” she said.

“This is what it means in practice for India to be the pharmacy of the world.

It means not only affordable medicines reaching Nigerian homes, but also manufacturing medicines in Nigeria for Nigerian homes,” Rawat added.

She noted that Nigeria could derive valuable insights from India’s strategy for expanding health insurance coverage in its pursuit of universal healthcare.