President Bola Ahmed Tinubu has secured a $14 billion foreign investment in India and informed Indian investors that greater opportunities abound in Nigeria more than in other countries of the world.
ENigeria Newspaper reports that Tinubu addressed a Presidential Roundtable and Business Conference, organized by the Nigerian High Commission, in collaboration with the Confederation of Indian Industry (CII) and the Nigerian Indian Business Council (NIBC), in Delhi, India.
President Tinubu who was very confident of Nigeria’s economic potential told the gathering of Indians that nowhere else offers the sort of investment opportunities and returns on investment as much as Nigeria. Adding that his administration which comprises capable, intelligent, and committed individuals, will drive an economy that will support profit-making investments.
Consequently, the president also commended Indian investors for significant investment pledges amounting to nearly $14 billion U.S. dollars committed during the Conference.
Further buttressing his point on the numerous opportunities in Nigeria, President Tinubu cited the situation where one of the biggest petrochemical companies in the world, which has huge investments in the country, Indorama, called his attention to a challenge, which he instructed the Nigerian National Petroleum Company Limited (NNPCL) to sort out in less than 21 days.
Tinubu further assured Indian investors of the readiness of his administration to provide every needed support, including government intervention when needed, adding that he would be leading his team of ministers to drive a prosperous and performing economy, which would be supporting investments to thrive.
He allayed the fears of negative and inconsistent policy impacts, noting that whatever might have happened in the past should be recorded for the twists and turns of politics, which he said is not peculiar to Nigeria, but also applicable to some of the oldest contemporary democracies like the United States of America.
“We are the people that pledged to represent the bureaucracy, the authority in many ways here before you, and the captain of that ship is myself, Bola Ahmed Tinubu. I can only promise you that I will captain the vessel of development, prosperity, and democracy, fully for Africa, the largest democracy, and for the rest of the world.
“You know where the shoe pinches. Thank you for the collaborative effort of looking far ahead, and seeing the future, nobody has a crystal ball. Without risk, there can be no return, there can be no success and no one succeeds alone, we have to partner, and we have to make positive efforts at promoting people and collaborating in a friendly manner and that’s what Nigeria is all about. Perhaps when my friend Sunil was coming to Nigeria, he just saw the opportunity and today he’s one of most respected Indian-Nigerian, and many of you the same.
“What you have seen in the past where you might be frustrated, that is the twist and turn of democracy. It will happen, if it is happening in America for over 250 years, then expect the twists and turns, the hills and valleys in the African continent.
“But I come here to assure you that definitely we are open for business, you’ve heard it. We have capable, intelligent, and highly committed individuals in the government to drive the economy of Nigeria and to be able to give you the best return possible. There is nowhere else.
“You pinchpenny in America and any other part of the world. Nigeria offers the best return on investment as of today, so invest. And many of you who are there can attest to that. You heard the Managing Director of the Stock Exchange saying there is high elation in the stock market, which has been very bullish since I assumed office. I’m proud of that.
“As for decision making no problem, be relaxed. Here is one of the examples; Indorama.
They had a lingering problem for years, between the NNPC and them. I stepped in when it came to my attention. I said give me the result in 21 days. Before 21 days, he brought the paper to my office… “I’ve solved the problem, sir.”
opportunities and options in India.
Closing the interactive session, Chandrajit Banerjee, the Director-General of the Confederation of Indian Industries (CII), noted that the Presidential Roundtable serves as a robust foundation for Indian businesses looking to engage with Nigeria and would encompass cooperation across key areas, such as capacity building, skills development, agriculture, and the enhancement of digital and physical infrastructure, among others.
“Under the determined leadership of President Tinubu, the CII is prepared to dispatch a high-level delegation to Nigeria, and we are keen on establishing a second presence in Africa, with Nigeria as our target destination,” he concluded.
The presidential roundtable, attended by President Tinubu, also had in attendance Governor Dapo Abiodun of Ogun State; Amb. Yusuf Tuggar, Minister of Foreign Affairs; Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy; and Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment; along with industry leaders from both India and Nigeria.
Following the Roundtable, the President met individually with each of the top pledging investors to finalize the next steps to ensure that no environmental encumbrance stands in the way of their success in Nigeria.
