India overtakes US as Top Buyer of Nigeria's Crude Oil

The United States of America have always been the biggest importer of Nigeria's crude oil. But that's now a thing of the past as India has overtaken the United States as Nigeria biggest crude oil buyer for the past 3 months. This was made known by the Indian High Commissioner to Nigeria, Mahesh Sachdev during a courtesy visit
to the Niger State Governor Dr. Mu’azu Babangida Aliyu, recently.

India who recently reduced her dependence on Iranian oil due to US and European sanctions on
oil imports from the Islamic Republic of Iran. Hence they have to look for an alternative source of crude oil and that interpreted to bigger oil purchases from Nigeria.

“India will continue to cooperate with Nigeria to improve its economy and it will also assist the country in capacity building of workers in both the public and
private sectors,” Sachdev said. The bilateral trade between Nigeria and India is put at $10 billion. But the high commissioner disclosed that  the total Indian investment in the Nigerian economy could be valued at $16.6 billion.

He also disclosed that India will establish a film city in patnership with Kano state and collaborating with the Niger State Government to build health care facilities and improve agriculture.


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