The presidency, on Sunday, disclosed that Nigeria and India have agreed to reinforce strategic partnership, including boosting economic, defence, health and security ties.
The statement confirmed that during their bilateral discussions at the Aso Rock Villa in Abuja, President Bola Tinubu and Prime Minister Narendra Modi, agreed to a greater collaboration in counterterrorism, maritime security, and intelligence sharing.
The presidency said Tinubu’s visit to India in 2023 is already yielding results, noting that shortly after the Indian Prime Minister received a formal welcome, including a 21-artillery gun salute at the Presidential Villa, President Tinubu and Prime Minister Modi went into a tete-a-tete, and later jointly presided over an expanded bilateral and political talks.
With growing threats in the Gulf of Guinea and the Indian Ocean, the two leaders also agreed to coordinated actions to safeguard maritime trade routes and combat piracy.
The two countries pledged to continue regular naval exercises and joint anti-piracy operations in the Gulf of Guinea to safeguard critical maritime routes.
”The leaders reiterated their unequivocal condemnation of terrorism in all its forms and manifestations including the cross-border movement of terrorists and terror financing networks and safe havens.
”They called for zero tolerance to terrorism and expeditious finalization and adoption of the Comprehensive Convention on International terrorism in the UN Framework as well as implementation of the UNGA and the UNSC resolutions on countering terrorism and violent extremism.
”It was agreed to enhance cooperation in the area of counter terrorism,” the joint statement said.
Prime Minister Modi reiterated India’s readiness to support Nigeria’s defence modernization efforts, highlighting India’s emergence as a trusted defence manufacturer.
The two leaders also highlighted the vibrant economic relationship between India and Nigeria, with India positioned as Nigeria’s largest trading partner and a significant contributor to its economy.
Nigeria commended the contributions of over 200 Indian companies operating in the country, which have generated substantial employment and investment opportunities.
On bilateral trade expansion, both leaders directed their officials to finalize pending agreements, including the Economic Cooperation Agreement (ECA), Double Taxation Avoidance Agreement (DTAA), and the Bilateral Investment Treaty (BIT), to boost trade and investment.
They noted with satisfaction ”the fruitification of some of the investments” agreed to by the Indian companies during the visit of President Tinubu to India in September 2023, and committed to facilitating early finalization of the remaining investments.
On the sidelines of the G20 Leaders’ Summit held from September 9th-10th, 2023, in New Delhi, the Nigeria-India Presidential Roundtable and Business Conference had taken place, where Indian investors pledged a combined total of over $14 billion across critical sectors of the Nigerian economy.
The investments were targeted at industrialization, energy, telecommunications, and defence sectors.
On infrastructure Development, the joint statement arising from Prime Minister Modi’s state visit, stated that India reaffirmed its commitment to supporting Nigeria’s development priorities through concessional Lines of credit and technical expertise.
On energy collaboration, Nigeria and India agreed on long-term contracts for crude oil and LNG supply and technical support in pipeline transmission security, CNG conversion and LPG bottling distribution.
The two leaders also discussed broader collaboration on food security and agriculture, health, education, and cultural exchanges.