Foreign Investors: Indians Set To Invade Nigeria As Tinubu Assures Best Returns On Investment

By Ayodele Oni

Indian investors are set for investment in Nigeria amounting to nearly $14 billion U.S. dollars.

This was revealed during the Nigeria-India Presidential Roundtable and Conference in New Delhi, India.

A statement on Wednesday by presidential spokesman, Ajuri Ngelale stated that President Bola Tinubu was happy saying “we are ready to give you the best returns for investment possible, there’s nowhere else like our country. Nigeria offers the best returns for investment today, so invest now.”

Among these many new investments, Indorama Petrochemical Limited has pledged a new investment of $8 billion U.S. dollars in the expansion of its fertilizer production and petrochemical facility in Eleme, Rivers State.

Jindal Steel and Power Limited, one of India’s largest private steel producers, has committed to investing $3 billion in Nigeria, following discussions with President Tinubu on the sidelines of the G-20 Summit in New Delhi, India.

Founding President of SkipperSeil Limited, Mr. Jitender Sachdeva announced that, following President Bola Tinubu’s personal intervention, he is investing $1.6 billion U.S. dollars in the establishment of twenty 100MW power generation plants across the states of Northern Nigeria, amounting to 2,000MW of new power within the next four years.

Additionally, the President has approved finalization on a new $1 billion U.S. dollar agreement to bring the Defense Industries Corporation of Nigeria (DICON) to 40% self-sufficiency in local manufacturing and production of equipment in-country by 2027.

This would be achieved through a comprehensive new partnership with the Managing Arm of the Military-Industrial Complex of the Indian Government.

Another Indian firm, Bharti Enterprises, which is a major first-generation corporation in India with interests in telecom, space communications, digital solutions, insurance, processed foods, real estate, and hospitality, has expressed its commitment to invest an additional $700 million in Nigeria, with work set to begin immediately.

The president emphasized that under his leadership, agreements must now manifest in industries and jobs on the ground in Nigeria.

“Do not procrastinate. Don’t be frightened about investments in Nigeria. Bring it on. Ask your questions and make your requests.

“The trade and investment opportunities are enormous. I have a team, and I am the captain of that team, and I assure you that we solve problems.

“There are good economic policies for the investors as well as able men and women in leadership and on the ground, who can drive the goal of broad prosperity through investment and infrastructure.

“I will captain and lead the course of investment, development, and prosperity for the largest democracy in Africa and for investors from the rest of the world.”