KNOW WHY PM MODI's AUSTRIAN VISIT IS SIGNIFICANT

 

FIRST VISIT OF THE INDIAN PM TO NIGERIA AFTER A GAP OF 17 YEARS

Nigeria and India flag together relations textile cloth fabric texture. Image used for illustrative purpose. Getty Images

Prime Minister Narendra Modi arrived in Nigeria on 17.11.24 at the invitation of President Bola Ahmed Tinubu. Modi was given an unprecedented welcome with a 21-gun salute upon arriving at Abuja airport. A group presented a Lavani folk dance in front of the Prime Minister to welcome him. 

 

Modi was presented the key to Abuja city as a symbol of trust and respect of the people of Nigeria towards him. The Marathi community living there gave a special welcome to the Prime Minister and thanked him for giving Marathi the status of classical language.

Modi held a restricted meeting with Tinubu that was followed by delegation-level talks. The two leaders agreed to work together to meet the developmental aspirations of the Global South and Modi appreciated Nigeria’s role as chair of the Economic Community of West African States (ECOWAS) and its contribution to multilateral and bodies.

His visit to Nigeria was considered important further to deepen the strategic partnership between India and Nigeria. This visit took place after a gap of 17 years before Prime Minister Manmohan Singh visited Nigeria in 2007.

BILATERAL TALKS BETWEEN THE TWO COUNTRIES

During this visit, Prime Minister Modi and President Tinubu held bilateral talks in which they discussed relations between the two countries and their various aspects. Relations between India and Nigeria are based on goodwill, mutual cooperation, and respect.

It is commendable that two vibrant democracies with dynamic economies are working together for the welfare of the people of both countries. Along with this, new possibilities have been identified in the fields of economy, agriculture, security, fintech, energy, small and medium enterprises, and culture. 

ADDRESS TO THE INDIAN DIASPORA BY PM MODI

Prime Minister Narendra Modi while addressing the Indian diaspora in Nigeria said that a confident India is now moving towards building a 'developed India' that has emerged as a new hope for the world by becoming a symbol of development, peace, prosperity, and democracy.

Modi started his speech with 'Sannu, Nigeria', which means 'Namaste Nigeria'. Modi praised the contributions of the 60,000-strong Indian community in Nigeria.

PM MODI COUNTED THE ACHIEVEMENTS OF INDIA

Today, India is the fifth largest economy in the world. The day is not far when India will become a 5 trillion dollar economy and the third largest economy. The world is praising India for its progress in the space industry. India has decided to send Indians to space soon through our own Gaganyaan.

The Prime Minister said, 'India is also going to build its station in space. It has become India's habit to step out of their comfort zone and create new paths. In the last 10 years, 25 crore people have been lifted out of poverty.'

India now has more than 1.5 lahks registered 'startups'. More than 100 unicorns have been created in the last decade. A unicorn means a company with a capital of Rs.8,000-10,000 crore. More than 100 companies are proof of the success of India's startup culture. India can achieve this feat because it has come out of its comfort zone.

INDIAN COMPANIES ACTIVE IN NIGERIA

Over 135 Indian companies, either owned and/or operated by Indians or persons of Indian origin, are currently operating in Nigeria. There are 15 prominent companies in the Nigerian Power Sector.

Indian companies dominate Nigeria’s pharmaceuticals, power, and transmission sectors. Indian-owned/operated companies are estimated to be the second largest employer in Nigeria after the Federal Government of Nigeria.

Indian companies are playing an important role in consultancy, supply of engineering goods, project exports as well as production services. As a result, the demand for Indian engineering goods and services is on the rise in Nigeria.

India's main exports to Nigeria include machinery and instruments, drugs, pharma and fine chemicals, transport equipment, electronic goods, and manufacture of metals. Imports mainly include petroleum, crude products, non-ferrous metals, wood and wood products, and cashew nuts.

 

THE TWO SIDES SIGNED THREE MEMORANDUMS OF UNDERSTANDING

Customs Mutual Administrative Agreement (CMAA)

This agreement aims to improve customs enforcement and trade facilitation by streamlining border clearance processes, reducing trade costs, and curbing customs-related offenses. 

Local currency settlement system agreement

This agreement aims to promote the use of the Indian Rupee and Nigerian Naira for cross-border transactions. It is intended to enhance bilateral trade and investments in sectors such as crude oil, natural gas, pharmaceuticals, power, and more. 

Strategic Partnership

India and Nigeria have reaffirmed their commitment to a robust strategic partnership, pledging to strengthen ties in key areas including economic development, defense, security, healthcare, and food security. 

India and Nigeria are also working to improve cultural exchange by providing regular exchanges between Bollywood and Nollywood. 

India and Nigeria are each other's largest trading partners in their respective regions, with bilateral trade between the two countries exceeding USD 14 billion annually. 

India has committed to sending 20 tonnes of humanitarian aid to help those affected by the recent floods in Nigeria. In addition, India is emerging as a development partner of Nigeria on two fronts – first by providing development assistance through concessional loans and second by offering capacity-building training.

India's influence in the field of education and health in Nigeria is notable. Many Nigerians study in India and receive medical treatment there. Indian cultural products such as Bollywood films etc. are very popular among the people there.

NIGERIA’S NATIONAL HONOUR TO PM MODI

During the visit, PM Modi was honored with Nigeria's national honor 'The Grand Commander of the Order of Niger' (GCON). He became the second foreign dignitary to receive this honor. Earlier in 1969, this honor was given to Queen Elizabeth of Britain. Let us tell you that this is the 17th such international award that PM Modi has received abroad.

IMPORTANCE OF NIGERIA IN INDIAN CONTEXT

Nigeria is Africa's most populous country with a population of around 220 million. Nigeria is a key pillar of India's Africa strategy, reflecting its role in facilitating India's access to the African continent. From an economic perspective, Nigeria is an important energy partner for India, supplying over 8% of India's crude oil imports, which is essential to India's energy security.

INDIA AND NIGERIA HAVE VERY OLD RELATIONS

The historical ties between India and Nigeria date back to 1500 AD when Baba Ghor, a gem merchant from Kano, settled in Gujrat, symbolizing the early trade links between the two regions.

Diplomatic relations between the two countries were established in 1960. It has been six decades since the two countries developed relations based on shared values ​​of democracy, pluralism, and economic cooperation. Nigeria's new role as a partner country in BRICS reflects its importance on the world stage.