President Bola Tinubu has embarked on a significant meeting with an investor in India as part of his official visit to the country ahead of the G20 Summit scheduled for this weekend.
Chief Ajuri Ngelale, the President’s Special Adviser on Media and Publicity, revealed in a statement that President Tinubu started talking as soon as he arrived after a drawn-out 15-hour international flight.
During his visit, President Tinubu engaged with Mr. Prakash Hinduja, Chairman and CEO of the Hinduja Group of Companies, a conglomerate boasting a vast asset portfolio exceeding 100 billion U.S. Dollars.
The Ministers of Finance, Foreign Affairs, Industry, Trade, and Investment of Nigeria attended this meeting, which was notable for taking place just 90 minutes after the president arrived in India. President Tinubu emphasised that improving Nigeria’s economic prospects was the driving force behind his visit to India.
He expressed Nigeria’s commitment to attracting investments offering lucrative opportunities, job creation for its citizens, and new revenue streams for both federal and sub-national governments. President Tinubu underlined his dedication to removing any obstacles hindering business initiatives, affirming Nigeria’s status as a highly conducive environment for profitable ventures and sustainable job generation.
“We are here for business. I am here to personally assure our friends and investors that there is no bottleneck that I will not break. Nigeria will become one of the most conducive places on earth to make good profits and create lasting jobs,” the president declared. “With my support, there is nothing standing in your way of enjoying the unrivalled opportunities presented by our massive market and the ingenious, hardworking nature of the Nigerian people. We are open for business.”
In response, the Hinduja Group chairman commended President Tinubu’s transformative achievements as the former Governor of Lagos, notably in addressing coastal erosion and water encroachment issues by establishing a thriving free trade zone. He expressed his enthusiasm to collaborate with the new Nigerian president to unlock prosperity for Nigeria’s talented population.
“We believe in you as a leader who has done this before. You know what the challenges are. You know how to fix them,” the chairman stated. “We are prepared to make investments worth billions of dollars under your leadership, as we see you actively addressing systemic problems. I am ready to sign an MoU and commence execution. You can designate the contact person, and we will start work immediately, particularly focusing on bus and automobile manufacturing in Nigeria, among other areas.”
Furthermore, he shared his experience with bureaucracy-related delays in Nigeria and expressed confidence in President Tinubu’s determined approach to transforming Nigeria’s immense potential into a reality for all citizens.
President Tinubu directed the Ministers of Trade and Finance to expedite the agreement, ensuring satisfaction on both sides. He emphasised his commitment to collaborative efforts, underscoring that Nigeria’s greatness could only be realised through teamwork and not in isolation.
He stressed the importance of investor satisfaction, as it would lead to prosperity for Nigerians through an inclusive economy where hard work is rewarded and the nation’s reputation for excellence is upheld.
