Full Details Of Key Agreements Reached Between Nigeria And India

The presidency on Sunday disclosed that Nigeria and India have agreed to strengthen their strategic partnership, focusing on areas such as the economy, defense, health, and security.

This agreement came during bilateral talks between President Bola Tinubu and Indian Prime Minister Narendra Modi at the Aso Rock Villa in Abuja.

The presidency noted that President Tinubu’s visit to India in 2023 is already yielding positive results. Following a formal welcome, including a 21-gun salute, President Tinubu and Prime Minister Modi held a private meeting and later led expanded discussions between both nations.

Given the rising threats in the Gulf of Guinea and the Indian Ocean, the two leaders agreed to work together to protect vital maritime trade routes and address piracy. They committed to continuing joint naval exercises and anti-piracy operations in the Gulf of Guinea.

The leaders reiterated their strong condemnation of terrorism in all its forms, including cross-border terrorism, terror financing, and safe havens. They called for zero tolerance towards terrorism and urged the expeditious finalization and adoption of the Comprehensive Convention on International Terrorism within the United Nations framework. They also agreed to step up cooperation in the fight against terrorism.

Prime Minister Modi emphasized India’s readiness to support Nigeria’s defense modernization, highlighting India’s emergence as a trusted defense manufacturer. The two leaders also underscored the growing economic relationship between the two countries, with India being Nigeria’s largest trading partner and a significant contributor to Nigeria’s economy. They recognized the contributions of over 200 Indian companies operating in Nigeria, which have created employment and investment opportunities.

To further enhance bilateral trade, both leaders instructed their officials to finalize agreements such as the Economic Cooperation Agreement (ECA), the Double Taxation Avoidance Agreement (DTAA), and the Bilateral Investment Treaty (BIT).

They also expressed satisfaction with the progress of investments agreed upon during President Tinubu’s visit to India in September 2023, pledging to speed up the completion of outstanding investments.

At the G20 Leaders’ Summit held in New Delhi in September 2023, the Nigeria-India Presidential Roundtable and Business Conference took place, where Indian investors pledged a combined total of over $14 billion in key sectors of Nigeria’s economy, including industrialization, energy, telecommunications, and defense.

Regarding infrastructure development, the joint statement from Prime Minister Modi’s visit reaffirmed India’s commitment to supporting Nigeria’s development priorities through concessional lines of credit and technical expertise.

On energy cooperation, the two countries agreed to long-term contracts for crude oil and LNG supply, as well as technical assistance in pipeline transmission security, CNG conversion, and LPG bottling and distribution.

Additionally, the two leaders discussed collaboration in areas like food security, agriculture, health, education, and cultural exchanges.

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