Nigeria’s new President faces old problems
1 year, 7 months ago

Nigeria’s new President faces old problems

The Hindu  

May 29 was a historic yin-and-yang moment for Nigeria, Africa’s most populous country and largest economy. On the positive side, a peaceful and orderly transfer of power followed a general election with Bola Ahmed Tinubu, 70, being sworn in in Abuja as Nigeria’s 16th Executive President. Having been a Governor of Lagos State, Nigeria’s economic capital, a long-standing political “kingmaker” and a businessman in his own right, he knows what needs doing and how. India’s stakes India, too, has important stakes in the political stability and progress of Nigeria, which besides being a friendly Commonwealth country is also a large economic partner. Although India has traditionally been Nigeria’s largest trading partner, its position has slid down as the bilateral trade shrunk by 21% in 2022-23 to $11.852 billion.

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History of this topic

Indian and Nigerian leaders pledge stronger security ties and support for Global South
1 month, 3 weeks ago

Indian and Nigerian leaders pledge stronger security ties and support for Global South

Associated Press  

ABUJA, Nigeria — The leaders of Nigeria and India pledged stronger ties in maritime security and counterterrorism during a meeting on Sunday where they also agreed on more support for Global South nations. Modi has often touted India as the voice of the Global South, the group of countries primarily considered developing nations, including Nigeria, but which also includes China …

‘India gives high priority to strategic partnership with Nigeria’: PM Modi
1 month, 3 weeks ago

‘India gives high priority to strategic partnership with Nigeria’: PM Modi

Hindustan Times  

In Nigeria for the first leg of his three-nation tour, Prime Minister Narendra Modi on Sunday said India accords “high priority” to its strategic partnership with the host nation. PM Narendra Modi and Nigerian President Bola Ahmed Tinubu “We give high priority to our strategic partnership with Nigeria…I am confident that a new chapter in our ties will begin following …

PM Modi’s visit to Nigeria: Immense scope for cooperation
Trending News
1 month, 3 weeks ago

PM Modi’s visit to Nigeria: Immense scope for cooperation

Firstpost  

Nigeria is an important destination for Indian business and there is great potential to explore. Engineers India Limited is the project management company for the Dangote Group of Nigeria’s the largest Petrochemical and Fertilizer Complex worth $2.5 billion which is currently the second largest in the world. India’s Support for Nigerian Military India strongly supported independence of African countries from …

As PM Modi heads to Nigeria, here are 5 things about India-Nigeria ties
1 month, 3 weeks ago

As PM Modi heads to Nigeria, here are 5 things about India-Nigeria ties

Firstpost  

Prime Minister Narendra Modi’s visit to Nigeria aims to strengthen India’s ties in diplomacy, trade, and culture, with a focus on expanding India’s global presence in forums like G20 and Caricom Prime Minister Narendra Modi and President of Nigeria Bola Ahmed Tinubu at the G20 summit. Bilateral visits The two nations and their leaders developed a friendship, mutual respect, and …

India, Nigeria to increase cooperation in energy, UPI, local currency settlement to enhance economic ties
8 months, 1 week ago

India, Nigeria to increase cooperation in energy, UPI, local currency settlement to enhance economic ties

The Hindu  

India and Nigeria have identified areas such as crude oil, natural gas, pharmaceuticals, Unified Payments Interface, local currency settlement system, and power sector to increase cooperation for boosting economic ties. The commerce ministry on May 3 said that these issues among others were discussed during a recent visit of a seven-member delegation from India to Nigeria. "These include resolving of …

How Nigeria's naira fell to record low amid conflict and instability
10 months, 3 weeks ago

How Nigeria's naira fell to record low amid conflict and instability

The Hindu  

Nigerians are facing one of the West African nation's worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. When crude prices plunged in 2014, authorities used its scarce foreign reserves to try to stabilise the naira amid multiple exchange rates. Meanwhile, the country's …

Nigeria’s currency has fallen to a record low as inflation surges. How did things get so bad?
10 months, 3 weeks ago

Nigeria’s currency has fallen to a record low as inflation surges. How did things get so bad?

Associated Press  

ABUJA, Nigeria — Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. Meanwhile, the country’s multiple exchange rates were unified to allow market forces to determine the rate of the local naira against the …

Nigeria’s currency has fallen to a record low as inflation surges. How did things get so bad?
10 months, 3 weeks ago

Nigeria’s currency has fallen to a record low as inflation surges. How did things get so bad?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Meanwhile, the country's multiple exchange rates were unified to …

Political crisis in Nigerian oil capital sparks fears of more economic woes
1 year ago

Political crisis in Nigerian oil capital sparks fears of more economic woes

Al Jazeera  

Rivers State crisis has yet to be resolved fully despite alleged intervention by President Tinubu. Abuja, Nigeria – On October 30, oil-rich Rivers State, Nigeria’s oil capital, became the latest hub of political drama in the country following the state parliament’s attempted impeachment of Siminalayi Fubara, who had been governor for only five months. Since then, a political crisis has …

Strengthening Nigeria-India ties is a win-win situation all round
1 year, 4 months ago

Strengthening Nigeria-India ties is a win-win situation all round

Hindustan Times  

President Bola Ahmed Tinubu’s G20 Summit visit to India, on the special invitation of Prime Minister Narendra Modi, is coming almost exactly 61 years after Jawaharlal Nehru, the first PM of India, visited Nigeria. Don’t be frightened about investments in Nigeria… I have a team, and I am the captain of that team, and I assure you that we solve …

Local businesses in northern Nigeria feel the sting of regional sanctions against neighboring Niger
1 year, 5 months ago

Local businesses in northern Nigeria feel the sting of regional sanctions against neighboring Niger

Associated Press  

ABUJA, Nigeria — A decision by a bloc of West African nations to shut down their borders with Niger as a way of sanctioning its coup plotters is harming local businesses in northern Nigeria, where a cross-border economy has boomed for years. In Nigeria’s northwestern Katsina state, the border’s closure and restricted traffic on nearby roads left dozens of trucks …

Nigerian leader has announced economic measures to ease hardship as labor unions threaten protests
1 year, 5 months ago

Nigerian leader has announced economic measures to ease hardship as labor unions threaten protests

Associated Press  

ABUJA, Nigeria — Nigeria’s President Bola Tinubu on Monday announced economic measures to ease growing hardship in Africa’s most populous country as labor unions threatened protests to demand more action. In a state broadcast late Monday, the Nigerian leader said he understands that Nigeria’s economy is going through a “tough patch” but added the government has saved more than one …

Nigeria opens Africa’s biggest oil refinery as it tries to boost struggling sector
1 year, 7 months ago

Nigeria opens Africa’s biggest oil refinery as it tries to boost struggling sector

Associated Press  

ABUJA, Nigeria — Nigerian President Muhammadu Buhari on Monday opened Africa’s biggest oil refinery, with hopes it would help the energy-rich country achieve self-sufficiency and become a net exporter of refined petroleum products. The $19 billion facility built by Aliko Dangote, Africa’s wealthiest man, in Nigeria’s economic hub of Lagos is one of the world’s biggest oil refineries and has …

A clear arc from India to Nigeria
5 years, 7 months ago

A clear arc from India to Nigeria

The Hindu  

It was a coincidence straight out of the silver screens in Mumbai or Lagos: the leaders of India and Nigeria both began their respective second terms within a day of each other following their unexpectedly decisive election victories. According to the latest Indian Department of Commerce statistics, Nigeria is India’s largest trading partner in Africa with total trade estimated at …

Atiku Abubakar: How I will get the Nigerian economy working again
5 years, 11 months ago

Atiku Abubakar: How I will get the Nigerian economy working again

Al Jazeera  

Presidential candidate for the PDP says he has a plan to turbo-charge Nigeria’s economy and generate millions of jobs. President Buhari has racked up an “impressive” list of records since he took office: Record unemployment: The number of unemployed persons in Nigeria increased 13 million to over 20 million in the last three years – that is more than the …

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