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.

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.

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.

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.”