Stakeholders from Nigeria and India have identified financial technology (fintech) innovation as a key driver of cross-border trade and investment, emphasizing the need for efficient digital payment systems to strengthen commercial ties between the two countries.
The position was highlighted during a business forum hosted by global B2B fintech company Verto in partnership with Donias Group, where industry leaders discussed the role of digital payment infrastructure in facilitating international commerce.
Participants at the forum noted that despite the longstanding economic relationship between Nigeria and India, challenges such as payment delays, foreign exchange constraints, and limited access to efficient financial infrastructure have continued to hinder trade growth.
They argued that fintech solutions are helping businesses overcome these obstacles by enabling faster, more transparent, and secure transactions across borders.
Speaking at the event, Director of Donias Group, Dinesh Mishra, said payment inefficiencies remain one of the major barriers to expanding trade between both nations.
According to him, businesses require modern payment platforms capable of moving funds seamlessly across international markets.
He disclosed that Donias currently works with over 1,000 companies globally and has facilitated the registration of nearly 500 businesses in Nigeria.
Mishra also revealed plans to attract up to $2.4 billion in Indian investments into Nigeria, stressing that efficient payment systems would be critical to achieving that target.
General Manager of Verto, Adeyemi Adeboyejo, described technology as a major enabler of global commerce, noting that advances in fintech have significantly reduced transaction processing times while improving transparency and operational efficiency.
He explained that businesses increasingly demand integrated platforms that allow them to manage payments, liquidity, settlements, and transaction monitoring from a single interface.
Stakeholders also highlighted the importance of local currency pricing and digital innovation in expanding market access.
They expressed optimism that a stronger fintech collaboration between Nigeria and India would boost trade volumes, attract investment, and create new opportunities for businesses in both countries.
