Lagos: Indian High Commissioner Amb. Abhishek Singh announced on Thursday that Indian companies have invested an estimated $27 billion in Nigeria to date.
Indian businesses are active across vital sectors such as pharmaceuticals, energy, manufacturing, and services, contributing significantly to Nigeria’s economy.
Singh made this announcement during the opening of the 2026 India Trade Expo, organized by the High Commission of India in collaboration with the Indian Professionals Forum.
The trade expo, which began in 2025, attracted more than 3,000 visitors in its inaugural year.
The 2026 expo features notable companies such as Tata International Ltd., Fullmark Group, Sun Group, and SacvinNigeria Ltd., among others.
Singh highlighted the success of the 2025 expo and expressed admiration for the diversity of Indian enterprises operating in Nigeria.
“Over 200 Indian-owned companies now operate in Nigeria, primarily in Lagos. The city offers vast opportunities for Indian businesses, and we are committed to building even closer ties,” Singh stated.
The envoy urged Indian companies exploring opportunities in Nigeria to adhere to the country’s laws and guidelines, assuring them of a favourable business environment and robust national support.
“India-Nigeria cooperation remains strong, and the High Commission is steadfast in its commitment to fostering trade growth between both countries,” Singh added.
Earlier, Mr. Kannan Chockalingam, Consul General of India in Lagos, advocated for a shift from transactional trade to transformational collaboration in India-Nigeria relations.
He suggested that both countries could collaborate to bolster manufacturing and value addition in Nigeria, promote joint ventures, and enhance local capacity.
Chockalingam added that India could partner with Nigeria to encourage technology adaptation, facilitate skill transfers, support sustainable development and green growth, and empower youth and entrepreneurs.
According to him, India’s expertise in digital governance, affordable healthcare, small-scale industry development, and renewable energy can complement Nigeria’s resources, market potential, and entrepreneurial spirit.
“This expo is a platform for partnerships, agreements, and new collaboration foundations. Nigerian businesses should see India as a reliable partner, just as Indian firms should view Nigeria as West Africa’s gateway,” he said.
Mrs. Folashade Ambrose-Medebem, Lagos State Commissioner for Commerce, Cooperatives, Trade & Investment, highlighted Lagos as the primary gateway for investment into Nigeria and the wider West African region.
Ambrose-Medebem noted that Nigeria is carrying out crucial reforms aimed at strengthening investor confidence and improving the ease of doing business.
These include streamlining regulatory processes and reducing administrative hurdles, making it simpler and quicker for investors to understand requirements, process documentation, and make informed business decisions.
She highlighted significant progress in simplifying business registration through digital platforms introduced by the Corporate Affairs Commission, which have reduced registration times and made business setup more accessible.
“Trade documentation and customs processes are being improved to reduce delays and enhance transparency across supply chains,” she said, adding that faster approvals and clearer guidelines have started to ease bottlenecks for traders and importers.
She added that the Nigerian Investment Promotion Commission is enhancing investment facilitation by streamlining approval processes for foreign investors, enabling quicker decisions and less red tape. Fiscal reforms have created a more consistent regulatory environment, allowing businesses to plan confidently for the long term.
These reforms, she explained, are part of a broader initiative to strengthen regulatory efficiency, ensure investor protection, and help businesses operate within a stable, transparent system—resulting in increased investor participation, smoother operations, and more predictable business outcomes.
Ambrose-Medebem emphasized that Nigeria offers a large and dynamic market and reaffirmed the government’s commitment to creating favorable conditions for business success. “Future growth depends on partnerships for shared prosperity, and Nigeria and India can achieve this together,” she concluded.
