Nigeria has attracted over $14 billion from President Bola Tinubu’s visit to India.
This was made know during Tinubu’s outing at the Nigeria-India economic roundtable in India
According to the pledges made by different investors , Indorama Petrochemical Limited pledged a new investment of $8 billion U.S. dollars in the expansion of its fertilizer production and petrochemical facility in Eleme, Rivers State, while Jindal Steel and Power Limited, one of India’s largest private steel producers, committed to investing $3 billion in iron ore processing and steel development in Nigeria.
As well, a Indian firm, Bharti Enterprises which is a major first-generation corporation in India with interests in telecom, space communications, digital solutions, insurance, processed foods, real estate, and hospitality, expressed its commitment to invest an additional $700 million in Nigeria, with work set to begin immediately.
This followed series of discussions with President Tinubu on the sidelines of the G-20 Summit in New Delhi, India.
Similarly, the Founding President of SkipperSeil Limited, Mr. Jitender Sachdeva announced that, following President Tinubu’s personal intervention, he is investing $1.6 billion U.S. dollars in the establishment of twenty 100MW power generation plants across the states of Northern Nigeria, amounting to 2,000MW of new power within the next four years.
Also the finalization on a new $1 billion U.S. dollar agreement to bring the Defense Industries Corporation of Nigeria (DICON) to 40% self-sufficiency in local manufacturing and production of defense equipment in-country by 2027 through a comprehensive new partnership with the Managing Arm of the Miltary-Industrial Complex of the Indian Government.
