G20 Summit: President Tinubu Secures $14 Billion Investment From India

President of Nigeria, Bola Ahmed Tinubu - who is currently in India to attend the two-day G20 summit - bagged $14 billion U.S. dollars in investment from India. The president assured that Nigeria will offer the best returns for investment to India.

"We are ready to give you the best returns for investment possible, there's nowhere else like our country. Nigeria offers the best returns for investment today, so invest now," the president said during the Nigeria-India Presidential Roundtable and Conference in New Delhi on Wednesday.

The president asked India to not procrastinate or be frightened about investments in Nigeria as trade and investment opportunities are enormous, adding "I have a team, and I am the captain of that team, and I assure you that we solve problems."

He further informed all the investors in the meeting that Nigeria has no free lunch or shortcuts instead it has good economic policy for the investors alongside "men and women in leadership and on the ground, who can drive the goal of broad prosperity through investment and infrastructure."

Tinubu reaffirmed to India that he will lead the investment projects like a captain, ensuring there is development and prosperity for the largest democracy in Africa and for investors from across the globe.

He noted that Nigeria is looking forward to doing business with intelligent, innovative, capable, and highly committed individuals in government, who are capable of making Nigeria drive to success.

One of India's largest private steel producers, Jindal Steel and Power Limited committed to investing $3 billion in Nigeria while Indorama Petrochemical Limited announced an $8 billion investment.

Considering President Tinubu's personal intervention, the Founding President of SkipperSeil Limited, Jitender Sachdeva announced that he will be investing $1.6 billion in the development of twenty 100MW power generation plants across the states of Northern Nigeria.

These power plants will create 2,000MW of new power within the next four years. Bharti Enterprises, which is a multinational conglomerate company, made a commitment to invest $700 million in Nigeria.

Sunil Bharti Mittal, who serves as Chairman of Bharti Enterprises, appreciated the president's efforts in making changes in Nigeria due to which the company is willing to invest in the country.

"You have unified the FX market. You have freed up crucial capital to upgrade your public infrastructure. Now, you have just dropped your prepared remarks and have spoken from your heart," the chairman said.

He continued, "Our investors have heard from a leader who is doing everything possible to attract capital to Nigeria for the benefit of Nigerians and our companies. Mr. President, we will bring these investments to Nigeria, and with your inspiring leadership style, we can only do more and more."

After the roundtable, the president went on to meet top pledging investors one-on-one to finalize the next steps. Considering the G20 summit, the two-day summit will be held in New Delhi on Saturday and Sunday.