Nigerian Based Indian Bizman and a popular socialite Chief Sanjay Jain has urged the federal government on deepening the bilateral relationship between Nigeria and India by focusing on unexplored areas.
Jain who has lived in Nigeria for more than 30 years spoke in Lagos last week, adding: While Nigeria-India relations are often dominated by oil trade and pharmaceutical exports etc., several areas remain underutilized or underexplored despite their immense potential.
He noted that based on recent analysis, developments, and various assessments, the key areas where bilateral cooperation could be deepened included: agricultural technology and mechanization. He added that – While India is a major buyer of Nigerian products, there is a little Indian agricultural investment in Nigeria.
He disclosed that – opportunities exist to replicate India’s “Green Revolution” successes in Nigeria to boost food security. In the area of renewable energy collaboration; beyond the traditional oil-and-gas focus, there is growing room to collaborate on clean energy technology and power-related infrastructure to help Nigeria bridge the gap in its power deficit.
We also have digital infrastructure and financial technology (Fin Tech). India’s Unified Payment Interface (UPI) system is a potential area for technology transfer to Nigeria to streamline banking and reduce transaction frauds.
When Chief was asked as to how about defense technology transfer? He responded – while military-to-military training exists, deeper collaboration in local defense manufacturing and technology transfer—rather than just purchasing hardware—is under-explored.
Although mining and solid minerals is identified as a sector, but active partnership in exploration and processing of Nigeria’s solid mineral resources is limited compared to India’s potential for technological input in this sector, Jain, the Chairman of Institute of Chartered Accountants of India, (ICAI) Nigeria chapter, said.
He said that expanding collaborations between Nigerian and Indian universities and technical institutes for technical training in engineering and specialized industrial skills to boost skill development and education was still underutilized.
Speaking on Small and Medium Enterprise (SMEs) partnerships, the founder member of Rotary Club of Palmgrove Estate, Lagos said: While massive Indian companies (e.g., Tata, Airtel) are present, fostering collaborations between Nigerian SMEs and Indian technological partners for manufacturing is still under-explored.
He observed that the bilateral relationship between Nigeria and India was heavily concentrated in raw oil imports for India -direct investment beyond oil, pointing out that expanding investment into agricultural processing, light manufacturing, and health services remained an area for growth.
In satellite and space technology mapping – India is advanced in space technology, and potential exists for transferring technology to Nigeria for mapping natural resources, monitoring climate changes, and improving geospatial analysis for agriculture.
Industrial development and “Skill India” Cooperation could be extended to Nigeria. By extending the “Skill India” initiative to Nigeria, it could help address Nigeria’s structural economic challenges through technical & vocational training and capacity building, particularly in electronics and textile manufacturing.
There are equally the blue economy and maritime security – Beyond traditional security, the two nations can collaborate on ocean-based economic activities (the “blue economy”), including fishing technology, maritime logistics, and marine biotechnology.
To bridge these gaps, particularly in technology, agriculture, and high-level industrial partnerships, Jain said,- is crucial for elevating the partnership to its full potential.
In his words: “The nations of Nigeria and India both have exceptionally diverse population, endured the deliberate divide and rule strategies executed by British colonizers who sought thereby to exacerbate existing differences, and experienced peaceful transfers from colonial rule to Independence. So, there is a lot of things in common with the two countries,” he added.
