Nigeria's President, Bola Tinubu, has pledged to provide the best returns for new investments and create business-friendly incentives for foreign businesses. He made this declaration during the Nigeria-India Presidential Roundtable and Conference in New Delhi, India, on the sidelines of the G-20 Summit. Tinubu commended Indian investors for significant investment pledges amounting to nearly $14 billion, assuring that Nigeria offers the best returns for investment possible. Among the new investments are Indorama Petrochemical Limited, which pledged an $8 billion investment in the expansion of its fertilizer production and petrochemical facility in Eleme, Rivers State. Jindal Steel and Power Limited committed to investing $3 billion in Nigeria, following discussions with President Tinubu. Founding President of SkipperSeil Limited, Jitender Sachdeva, announced plans to invest $1.6 billion in the establishment of 20 100MW power generation plants across Northern Nigeria, amounting to 2,000MW of new power within the next four years. President Tinubu also approved finalization on a $1 billion agreement to bring the Defence Industries Corporation of Nigeria (DICON) to 40% self-sufficiency in local manufacturing and production of defense equipment in-country by 2027 through a comprehensive new partnership with the Managing Arm of the Military-Industrial Complex of the Indian Government. Bharti Enterprises, a major first-generation corporation in India with interests in telecom, space communications, digital solutions, insurance, processed foods, real estate, and hospitality, also pledged to invest an additional $700 million in Nigeria.
Index to Nigerian Newspapers
