Tinubu Secures $14BN Proposed Investments at G-20 Summit

In the just concluded G-20 Summit held in India, President Bola Tinubu got a $14 billion investment from some Indian companies.

The pledge made by the companies happened at the Nigerian-India Presidential Roundtable and Conference in New Delhi.

Tinubu stated in the meeting that Nigeria was a reliable ground for companies to invest in, stating clearly that their companies would get the best return for investment.

Also, a company by the name Indorama Petrochemical Limited pledged $8 billion investment in its fertilizer production expansion and petrochemical facility in Eleme, Rivers State.

Alongside Indorama, another firm named Jindal Steel and Power Limited known as one of India's largest private steel producers also made a pledge of $3 billion following the discussion with Mr President.

That was not all as the President of SkipperSeil Limited, Jitender Sachdeva made a pledge of $1.6 billion towards the establishment of twenty 100MW power generation plants in Northern Nigeria which will amount to 2,000MW in the next four years.

Bola Tinubu also approved the completion of a $1 billion agreement to reinstate the Defense Industries Corporation of Nigeria (DICON) to a 40% self-sufficiency in the local production of defense equipment by 2027 through a partnership with the Indian Government Managing Arm Military-Industrial Complex 

As more talks went on, Bharti Enterprises, known as the first generation of telecommunication firms in India announced a pledge of $700 million in Nigeria through boosting space communications, digital solutions, real estate, processed foods, telecoms, and hospitality.

Mr President took time to appreciate companies that supported his initiatives and urged more companies to take bold steps as well.

The Presidential Roundtable was attended by President Tinubu, Governor Dapo Abiodun of Ogun State; Ambassador Yusuf Tuggar, Minister of Foreign Affairs; Dr Bosun Tijani, Minister of Communications, Innovation, and Digital Economy; and Dr Doris Uzoka-Anite, Minister of Industry, Trade, and Investment; alongside leaders of industry from both India and Nigeria.