Tinubu brings $3 billion in steel investment to Nigeria

In order to strengthen the nation’s steel sector, President Bola Tinubu has been successful in enticing Indian investors with a historic investment pledge of 3 billion US dollars.

According to a statement made on Wednesday in Abuja by Mr. Abdullahi Haruna, Prince Shauib Audu’s special assistant for media and publicity,

During an economic roundtable between Nigeria and India held in India, the president made the pledge.

President Tinubu has been successful in enticing a massive $3 billion investment pledge from Indian investors, which is a historic development that stands to support Nigeria’s steel sector.

The minister applauded this accomplishment and expressed his admiration for it.

“This historic pledge to invest $3 billion in iron ore processing and steel development in Nigeria was made by Jindal Steel and Power Limited, one of India’s leading private steel makers.

According to him, “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.”

Audu expressed his happiness at the development and added that the vow was a game-changer that would reenergize and revitalise the country’s steel industry.

He thanked Tinubu for his extraordinary efforts in helping Nigeria’s steel industry secure such a substantial investment.

Furthermore, this news was released on the same day that the presidential tribunal affirmed the president’s election.

This significant investment “marks a pivotal moment in Nigeria’s industrial growth and economic development, as the country eagerly anticipates the positive impact of it,” he said. (NAN)