President Bola Tinubu has achieved a momentous feat by garnering a substantial $3 billion investment commitment from Indian investors, aimed at bolstering Nigeria’s steel industry. Mr. Abdullahi Haruna, the Special Assistant for Media and Publicity to the Minister of Steel Development, Prince Shauib Audu, revealed this significant development in a statement on Wednesday in Abuja.
During the Nigeria-India economic roundtable that took place in India, President Tinubu disclosed the commitment. The announcement was met with resounding applause and commendation from the Minister.
Jindal Steel and Power Limited, a prominent private steel producer in India, made this historic pledge to invest $3 billion in iron ore processing and steel development in Nigeria. This momentous decision followed extensive discussions between President Tinubu and the leadership of Jindal Steel and Power Limited, held on the sidelines of the G-20 Summit in New Delhi, India.
Minister Audu expressed his jubilation over this development and highlighted that this investment pledge was a game-changer that would revitalise and transform Nigeria’s steel industry. He also extended his heartfelt appreciation to President Tinubu for his outstanding efforts in attracting such a substantial investment for Nigeria’s steel sector.
He emphasised the significance of this news, especially as it coincided with the day when the presidential tribunal upheld President Tinubu’s election victory. As the nation eagerly anticipates the positive impact of this massive investment, it marks a pivotal moment in Nigeria’s industrial growth and economic development.
