Answer
The magnitude of $i_2$ should be greater than the magnitude of $i_1$
Work Step by Step
We can write the expression for the magnetic field produced by a current in a straight wire:
$B = \frac{\mu_0~i}{2~\pi~R}$
Note that $R$ is the distance of the point from the wire.
For the net magnetic field to be zero, the magnetic field at point $P$ due to $i_2$ must be equal in magnitude to the magnetic field at point $P$ due to $i_1$
Since $i_2$ is a greater distance from point $P$, the magnitude of $i_2$ should be greater than the magnitude of $i_1$
