India will resume buying Nigerian crude oil as the two countries move to revive bilateral trade that once approached $15 billion, Vice President Kashim Shettima said following talks with Indian Prime Minister Narendra Modi.
Shettima met Modi on the sidelines of the recent BRICS Leaders’ Summit in New Delhi. The two sides agreed to deepen economic cooperation, with India seeking renewed purchases of Nigerian crude as part of efforts to rebuild trade volumes.
Trade between Nigeria and India reached about $14.95 billion in the 2021–2022 financial year before declining, largely due to reduced Indian purchases of Nigerian oil. Volumes fell to about $7.13 billion in 2024–2025 and recovered to approximately $9 billion in 2025–2026, according to figures provided by Indian High Commissioner to Nigeria Abhishek Singh.
The renewed crude purchases are expected to strengthen economic ties and help return bilateral trade closer to its previous peak. Shettima said the agreement forms part of Nigeria’s broader drive to expand strategic partnerships and create more economic opportunities.
