Trade volume between Nigeria and India has dropped from $16 billion in 2015 to $12 billion in 2016.
The acting Indian High Commissioner to Nigeria, Kaiser Alam, stated this at a reception to mark the 68th Republic Day of India in Abuja, saying the drop was caused by declining oil prices in the international market.
“We were importing the same amount but the oil prices came down. Above all, our trade was the same and the trade surplus was in favour of Nigeria,” he said.
On agriculture, the envoy said the Indian vice president, Hamid Ansari, was in Nigeria last year and issues such as agriculture was discussed.