Harvest of FDI, President Tinubu makes wave in India

By Jon Egie

* Attracts $3bn steel development and $8billion fertilizers and petrochemicals

In a historic move that promises to bolster Nigeria’s steel industry, President Tinubu has successfully attracted a monumental $3 billion investment pledge from Indian investors.

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This was disclosed by the Minister of steel development, Mr Shaiub Audu while speaking on the outcome of Nigeria India economic round table on the sidelines of the G-20 Summit in New Delhi, India.

“Jindal Steel and Power Limited, one of India’s foremost private steel producers, made the momentous commitment to invest $3 billion in iron ore processing and steel development in Nigeria.

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Indorama petrochemical Limited has also pledge an impressive investment of 8 billion dollars for the expansion of its fertilizer production and petrochemical facility in Eleme, Rivers State.

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While addressing investors, Tinubu said:

“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.”