Nigeria-based Indian businessman and socialite, Sanjay Jain, has projected that Nigeria and India would be major global powers by 2050-2100, saying the collaboration between both countries is expected to deepen in areas such as agriculture, 5G technology and energy transition.

He noted that India and Nigeria have cultivated a robust, strategic partnership in the 21st century, transitioning from historical non-aligned solidarity to deep economic, defence and technological cooperation.

He said: “India, as the world’s most populous democracy, and Nigeria, Africa’s most populous nation, are natural partners, strengthening ties through cooperation.”

Jain spoke in Lagos while interacting with select journalists on the 21st Century India-Nigeria relationship. He described the relationship as strong, resilient and mutually beneficial, maintaining that the cooperation between both countries had expanded significantly in trade, investment, healthcare, education, culture and technology.

He noted that the longstanding partnerships had continued to strengthen their bilateral ties through shared democratic values, economic cooperation and people-to-people engagement, stressing that both countries had built a partnership based on mutual respect, trust and shared aspirations for economic growth and sustainable development.

The relationship, he disclosed, had witnessed a remarkable growth over the years, making Nigeria one of India’s most important partners in Africa.

In terms of investments, he noted that his country had over 135 Indian companies operating in Nigeria with over $27 billion in investments, contributing significantly to Nigeria’s economic diversification, manufacturing, and job creation.

He revealed that in the 21st century, their relationship would be shifted from political focus to economic collaboration, targeting key sectors including pharmaceutical, agriculture and infrastructure.

He revealed that there were growing initiatives to replicate Indian technical expertise by establishing the Indian Institute of Technology (IIT) in Nigeria to foster innovation-driven solutions, adding that in 2024 about 50,000 Nigerians were living and working in India, saying this is part of India’s contribution to cultural and diaspora ties.

Jain also noted that there is ongoing cooperation between Nigeria’s Nollywood and India’s Bollywood on filmmaking, saying this initiative is part of the cultural exchange between both countries.

He stated that the visit of Indian Prime Minister Narendra Modi, the first of its kind in 17 years, to Nigeria in 2024, where he was bestowed the Grand Commander of the Order of the Niger (GCON), Nigeria’s second highest national honour, showed the level at which Nigeria values the partnership.

Jain revealed that his country spearheaded the inclusion of the African Union, which includes Nigeria, into the G20, thereby solidifying their shared influence on global issues.