Nigeria-India Roundtable Sparks Excitement With $14 Billion Investment Pledges

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President Bola Tinubu, during his visit to New Delhi for the upcoming G20 Summit, expressed Nigeria’s commitment to providing attractive incentives for foreign investors. At the Nigeria-India Presidential Roundtable and Conference, Tinubu lauded Indian investors for pledging nearly $14 billion in new investments.

He emphasized Nigeria’s readiness to offer exceptional returns on investment; highlighting the nation’s unique appeal for investors. Among the notable commitments, Indorama Petrochemical Limited plans an $8 billion expansion of its fertilizer production and petrochemical facility in Rivers State. Jindal Steel and Power Limited, a major Indian steel producer, has committed $3 billion to investments in Nigeria.

Additionally, SkipperSeil Limited intends to invest $1.6 billion in establishing 20 power generation plants across Northern Nigeria, generating 2,000MW of power within four years. A $1 billion agreement was approved to enhance Nigeria’s self-sufficiency in defense equipment production through a partnership with India’s Military-Industrial Complex.

Bharti Enterprises, a prominent Indian corporation, is set to invest an extra $700 million in Nigeria. Tinubu assured that these agreements would translate into tangible industries and job opportunities in Nigeria.

Tinubu encouraged investors not to hesitate, assuring them of Nigeria’s vast trade and investment potential. He highlighted the nation’s sound economic policies and capable leadership, pledging to lead Nigeria toward prosperity and growth.

The President proudly noted the Nigerian stock market’s impressive performance during his tenure.

 

 

 

 

 

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