CEM REPPORT, TRADE | Nigeria has received investment pledges amounting to nearly $14 billion during the Nigeria-India Presidential Roundtable and Conference in New Delhi, India.
President Bola Ahmed Tinubu during his current visit to India called for more investment announcing that Nigeria offers the best returns.
“We are ready to give you the best returns for investment possible, there is nowhere else like our country. Nigeria offers the best returns for investment today, so invest now.”
According to news reports from the NTA Network News among these many new investments, 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.
Jindal Steel and Power Limited, one of India’s largest private steel producers, has committed to investing $3 billion in Nigeria, following discussions with Tinubu.
Earlier, President Tinubu held a meeting with Gopichand Hinduja, the Chairman and CEO of the Hinduja Group of Companies.
Hinduja affirmed commitment to inject billions of dollars into Nigeria’s bus and automobile manufacturing sectors, among other areas.
Meanwhile, the Tinubu led administration has been engaging in a series of meetings with foreign investors in a bid to attract foreign currency through foreign portfolio investments and other forms of capital importation, government officials
The Tinubu led administration has severally reaffirmed its commitment to creating an enabling environment for private investment to thrive which the administration believes will in turn grow the nation’s economy.