Minister Lauds Tinubu Over $3bn Steel Sector Investment

The minister of steel development, Shuaibu Abubakar Audu, has praised President Bola Ahmed Tinubu for attracting a $3 billion investment pledge from Indian investors during the Nigeria-India economic roundtable in India

According to a statement by Abdullahi O. Haruna, special adviser on media and publicity to the minister, Jindal Steel and Power Limited, one of India’s foremost private steel producers, made a commitment to invest $3 billion in iron ore processing and steel development in Nigeria.

This pledge, it said, followed extensive discussions between President Tinubu and the leadership of Jindal Steel and Power Limited on the sidelines of the G-20 Summit in New Delhi, India.

Minister Audu expressed his excitement at this landmark development, hailing President Tinubu for his exceptional efforts in attracting such a substantial investment for Nigeria’s steel sector.

“This significant investment pledge is seen as a game-changer that promises to revitalise and transform the nation’s steel industry,” it  said, adding that the news coming a day after the Presidential Tribunal upheld the elections of President Tinubu adds an extra layer of significance to this achievement.

“As the country eagerly anticipates the positive impact of this massive investment, it marks a pivotal moment in Nigeria’s industrial growth and economic development,” the statement added.