President Tinubu Encourages Indian Investors: Seize the Opportunity as Nigeria Attracts $14 Billion in New Investments at Nigeria-India Economic Roundtable.

President Tinubu Encourages Indian Investors: Seize the Opportunity as Nigeria Attracts $14 Billion in New Investments at Nigeria-India Economic Roundtable.                By: Olamide Akinwumi.

President Bola Tinubu of Nigeria, during the Nigeria-India Presidential Roundtable and Conference, celebrated the remarkable commitment of Indian investors who pledged nearly $14 billion in new investments. The President's message to these investors was clear: "Do not procrastinate; Nigeria offers the best returns on investment today."

Among the significant investment announcements was Indorama Petrochemical Limited's commitment to invest $8 billion in expanding its fertilizer production and petrochemical facility in Eleme, Rivers State. Jindal Steel and Power Limited also pledged $3 billion for investments in Nigeria, a result of discussions with President Tinubu during the G-20 Summit in New Delhi.

Mr. Jitender Sachdeva, Founder of SkipperSeil Limited, announced a $1.6 billion investment in establishing twenty 100MW power generation plants across Northern Nigeria, aiming to add 2,000MW of new power capacity in the next four years.

Additionally, a $1 billion agreement was approved to enhance the Defense Industries Corporation of Nigeria (DICON) to achieve 40% self-sufficiency in local manufacturing and defense equipment production by 2027, through a partnership with India's Military-Industrial Complex.

Bharti Enterprises, a prominent Indian corporation with diverse interests, expressed its commitment to invest an additional $700 million in Nigeria, with immediate implementation plans.

President Tinubu emphasized that these agreements must lead to real industries and job creation in Nigeria, highlighting his administration's dedication to improving the macroeconomic and investment climate. He assured investors that Nigeria is open for business and that he and his team are ready to address any challenges.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, praised the investments and explained President Tinubu's eight-point strategy, focusing on growth, job creation, poverty reduction, and more, all underpinned by the rule of law and anti-corruption efforts.

Ministers from both countries signed agreements for digital transformation, education technology, and infrastructure development. Chandrajit Banerjee, Director-General of the Confederation of Indian Industries (CII), committed to sending a high-level delegation to Nigeria, solidifying the cooperation between the two nations.

The event was attended by prominent figures, including Governor Dapo Abiodun of Ogun State and Amb. Yusuf Tuggar, Minister of Foreign Affairs, along with industry leaders from India and Nigeria. Following the roundtable, President Tinubu met individually with top investors to ensure their success in Nigeria.

President Tinubu's leadership and efforts to attract capital to Nigeria have received strong support from Indian investors, reflecting renewed hope for a diversified and prosperous Nigerian economy.