India and Nigeria are bolstering economic ties, focusing on areas like crude oil, natural gas, pharmaceuticals, Unified Payments Interface (UPI), and power sector. A recent delegation visit from India discussed these issues, led by Additional Secretary Amardeep Singh Bhatia. Representatives from RBI, EXIM Bank, and NPCI were part of the delegation. Both countries aim to resolve market access issues and enhance cooperation in various sectors including renewable energy, agri-food processing, education, and transportation. They also seek to finalize a Local Currency Settlement System Agreement. Despite a decline in bilateral trade to $7.89 billion in 2023-24, India remains Nigeria’s second-largest trading partner in Africa, with significant investments across diverse sectors totaling $27 billion.