By Vivian Emoni
The Federal Government in collaboration with the Organised Private Sector, has engaged India to develop a trade and investment roadmap for 2027–2032, aimed at advancing Nigeria’s economic diversification goals.
Chief Emeka Obegolu, President, Abuja Chamber of Commerce and Industry (ACCI) disclosed this at a track two roundtable on Nigeria and India trade and investment partnership, in Abuja on Wednesday.
The programme which was organised by the ACCI, has its theme, “Beyond Bilateral: Co-creating Nigeria’s Strategic Trade and Investment Roadmap for India-Africa Summit.”
Obegolu said that the roundtable was to discuss with some relevant stakeholders ahead of the 4th India-Africa Forum Summit, which would hold between May 28 and May 31, in New Delhi.
He said that the strategic roadmap was to deepen trade and investment relations between the two countries, while calling for a more transactional and investment-driven Nigeria and India partnership.
“The primary objective of this engagement is to co-create a Nigeria and India Strategic Trade and Investment Roadmap (2027–2032) that reflects private sector priorities.
“It aligns with national economic diversification goals and responds to emerging global trade realities.
“Specifically, the roundtable seeks to identify priority sectors for collaboration, develop bankable project ideas and propose practical solutions to barriers affecting trade, investment flows, market access, technology transfer, and financing.
“It is also expected to strengthen institutional linkages between ACCI and leading Indian business networks, while fostering direct engagement between Nigerian enterprises and Indian counterparts in key sectors of mutual interest,” he said.
Obegolu said that Nigeria and India had maintained strong historical, cultural and economic ties, strengthened by democratic values and sustained commercial engagement.
He said that India remained one of Nigeria’s major trading partners, with investments in pharmaceuticals, energy, manufacturing, Information Communication and Technology (ICT) and consumer goods.
He added that Nigeria continued to serve as a major market for Indian businesses and a key supplier of crude oil and other energy products.
According to him, the discussions will also establish joint working groups and follow-up frameworks to ensure agreed outcomes translate into measurable economic benefits.
Prince Adetokunbo Kayode, Former President of the ACCI, said the summit would focus on strategic partnership for innovation, resilience and inclusive transformation between India and Africa.
Kayode, the initiator of the roundtable, said that the theme of the summit was tagged, AI SPIRIT: “India–Africa Strategic Partnership for Innovation, Resilience, and Inclusive Transformation.”
He said that the summit would bring together leaders of African Union member states, the AU commission and regional organisations to strengthen cooperation and define future engagement.
“Discussions will focus on public health, digital innovation, energy transition, agriculture, education, critical minerals, defence and space technology.
“Nigeria is expected to explore opportunities in agricultural exports, including cashew, sesame, cocoa and ginger, as India seeks to diversify imports from Africa beyond crude oil,” he said.
Kayode, also, Chairman of Nigerian Chamber of Commerce Dispute Resolution Centre (NCC-DRC), said the summit was expected to open access to fresh credit facilities through EXIM Bank of India for infrastructure, housing, renewable energy, healthcare and digital projects.
Dr Ilesanmi Bakare, Director, Economic Trade and Investment Department, Ministry of Foreign Affairs, said Nigeria’s participation in the summit should focus mainly on economic relations.
Bakare, represented by Abdulaqadir Olanrewaju of the ministry, said the ministry had adopted a transactional and investment-focused mandate, pledging support for initiatives that would make Nigeria’s participation meaningful and beneficial.
Mrs Nonye Ayeni, Executive Director, Nigeria Export Promotion Council (NEPC), said Nigeria’s trade with India was largely driven by raw material exports, while efforts were ongoing to expand non-oil exports and strengthen participation in the Africa-India economic corridor.
Ayeni emphasised the need for deliberate policy reforms, improved infrastructure, stronger standards, certification systems and deeper integration into regional and global value chains to enhance Nigeria’s export competitiveness.
She was represented by Mr Adekunle Obatimehin, Head, Multilateral and Bilateral Relation Unit, Market Access Department, NEPC.
Dr Aliyu Hong, Second Deputy President, ACCI, said that Nigeria and India share strong economic ties, adding that the two countries have many opportunities to expand trade, investment and business cooperation.
He described the initiative as timely, urging both countries to explore business opportunities further and strengthen economic partnerships, especially as Indian businesses continued to operate actively in Nigeria.
Speaking, the Executive Director, National Policy Advocacy Centre (NPAC), Mr Chidiebere Onwumere, emphasised that Nigeria must position itself as Africa’s economic gateway and pursue partnerships built on innovation, industrialisation and local manufacturing.(NAN)(www.nannews.ng)
Edited by Maureen Atuonwu
