G-20 Summit in India: Tinubu Secures $3bn Investment for Steel Sector

In the just concluded G-20 Summit, Bola Tinubu got a $3 billion investment pledge from Indian investors to boost productivity in Nigeria's steel industry.

Mr Abdullahi Haruna, the Special Assistant, Media and Publicity, of the Minister of Steel Development in Abuja made the announcement.

• 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 achievement was met with applause and commendation from the minister.

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

• The announcement came after extensive discussions between the president and the leadership of Jindal Steel and Power Limited on the sidelines of the G-20 Summit in New Delhi, India.

Audu also expressed his joy at the development that took place at the G-20 Summit, saying that the pledge taken by firms will revitalise and cause a huge transformation in Nigeria's steel industry.  

Also, the Minister thanked Tinubu for his efforts in attracting investment in Nigeria’s steel sector.

• Furthermore, this news comes on a day when the presidential tribunal upheld the election of the president.

• As the country eagerly anticipates the positive impact of this massive investment, it marks a pivotal moment in Nigeria’s industrial growth and economic development. 

Concerning the G-20 Summit, Investingport talked about the pledges that were made.