President Bola Tinubu has praised Indian investors for pledging substantial investments totaling nearly $14 billion during the Nigeria-India Presidential Roundtable and Conference in New Delhi. Tinubu emphasized Nigeria's readiness to provide the best possible returns on investment, stating that the country offers exceptional investment opportunities.
The significant investments include an $8 billion commitment from Indorama Petrochemical Limited for expanding its fertilizer production and petrochemical facility in Eleme, Rivers State. Jindal Steel and Power Limited, one of India's major private steel producers, has pledged $3 billion for investments in Nigeria. SkipperSeil Limited, represented by Jitender Sachdeva, announced a $1.6 billion investment in twenty 100MW power generation plants across Northern Nigeria.
Bharti Enterprises, a prominent Indian corporation with diverse interests, has committed to investing an additional $700 million in Nigeria.
President Tinubu encouraged prospective investors not to hesitate and reassured them of the government's commitment to resolving issues and facilitating investments. He emphasized Nigeria's openness for business with a focus on promoting growth, job creation, poverty reduction, and more.
During the event, several Memoranda of Understanding (MoUs) were signed, including agreements related to digital solutions, education technology, and infrastructure development between Nigerian and Indian government officials and organizations.
The Confederation of Indian Industries (CII) expressed its readiness to engage with Nigeria further and establish a second presence in Africa, with Nigeria as the target destination.
President Tinubu met individually with top investors to address any potential obstacles to their success in Nigeria following the roundtable discussions.
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