PRESIDENT Bola Tinubu has successfully attracted a monumental Three Billion US dollars ($3bn) investment pledge from Indian investors, to boost steel industry in the country.
This is according to a statement by Abdullahi Haruna, Special Assistant, Media and Publicity to Minister of Steel Development, Prince Shauibu Audu, in Abuja on Wednesday.
Read also: Tinubu’s Second Term Will Be Unity Government, Says Senate President
According to him, the president made the commitment 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.
Read also: ‘I Won’t Go Everywhere With You,’ Tinubu Says Presidential Duties May Limit 2027 Campaign Tour
“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,” he said.
Audu expressed his jubilation at the development, adding that the pledge was a game-changer that would revitalise and transform the nation’s steel industry.
He appreciated Tinubu for his exceptional efforts in attracting such a substantial investment for Nigeria’s steel sector.
Read also: Makinde Reveals How Tinubu Picked Adelabu As Power Minster Over His Nominee
“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,” he said.
