APA – Lagos (Nigeria)
Nigerian President Bola Tinubu has said that Indian investors have pledged to invest $3 billion to boost steel industry in Nigeria.
According to the statement by Mr Abdullahi Haruna, Special Assistant, Media and Publicity to Nigeria’s Minister of Steel Development, Mr. Shauib Audu, the pledge was made during the Nigeria-India economic roundtable in India.
“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 Nigerian president and the leadership of Jindal Steel and Power Limited on the sidelines of the G-20 Summit in New Delhi, India,” the statement said.
According to the statement, the pledge is a game-changer that will revitalise and transform the Nigerian steel industry.
GIK/APA
Indian investors pledge $3bn steel investments in Nigeria
