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Tinubu’s India Trip Yields $3 Billion Steel Investment for Nigeria

Tinubu’s India Trip Yields $3 Billion Steel Investment for Nigeria 

By Adeke Chukwuka

President Bola Tinubu has achieved a remarkable feat by securing a massive $3 billion investment commitment from Indian investors. This substantial funding is aimed at revitalising the country’s steel industry.

According to a statement by Mr. Abdullahi Haruna, Special Assistant, Media and Publicity, to the Minister of Steel Development, Prince Shauib Audu, in Abuja on Wednesday, the president pledged his commitment at the Nigeria-India economic roundtable in India.

Haruna, speaking on behalf of the minister, stated that President Tinubu has secured a remarkable $3 billion investment pledge from Indian investors, particularly Jindal Steel and Power Limited, for iron ore processing and steel development in Nigeria during discussions at the G-20 Summit in New Delhi, India.

This achievement was highly praised by the minister and shows a significant boost to Nigeria’s steel industry.

The Minister enthusiastically celebrated this development, highlighting it as a game-changing moment set to rejuvenate and revolutionise Nigeria’s steel industry. He commended President Tinubu for his exceptional efforts in securing this substantial investment.

He also noted the significance of this news coinciding with the presidential tribunal’s confirmation of the president’s election victory.

As Nigeria eagerly awaits the positive effects of this massive investment, it signifies a pivotal milestone in the nation’s industrial growth and economic progress.

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