By Milcah Tanimu
President Bola Tinubu has successfully attracted a monumental $3 billion investment pledge from Indian investors to boost Nigeria’s steel industry. This achievement was announced during the Nigeria-India economic roundtable in India, where Jindal Steel and Power Limited, a prominent Indian steel producer, committed to investing $3 billion in iron ore processing and steel development in Nigeria. The Minister of Steel Development, Prince Shauib Audu, applauded President Tinubu’s efforts and noted that this investment pledge marks a game-changing moment that will rejuvenate and transform Nigeria’s steel sector, contributing significantly to the nation’s industrial growth and economic development.
President Tinubu’s successful negotiation of a $3 billion steel investment pledge from Indian investors is poised to significantly boost Nigeria’s steel industry. Jindal Steel and Power Limited’s commitment to investing in iron ore processing and steel development in Nigeria is a testament to the potential and attractiveness of the nation’s steel sector. This development comes at a time when Nigeria is anticipating substantial industrial growth and economic progress, making it a pivotal moment in the country’s quest for enhanced industrialization and economic development.