For a Safer Earth, Healthier Climate

Steel Sector Gets $3b Investment

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By Ruth Tene Natsa, Abuja

To bolster the nation’s Steel Sector, President Bola Ahmed Tinubu has attracted a $3 billion investment pledge from Indian investors during the Nigeria-India economic round-table in India.

The announcement was made following 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, a statement by the  Special Assistant,  Media & Publicity to the Minister Abdullahi O. Haruna revealed

The statement revealed that “The Minister of  Steel Development, Prince Shuaibu Abubakar Audu, applauded the achievement as a historic move that promises to bolster Nigeria’s steel industry”.

“Jindal Steel and Power Limited, one of India’s foremost private steel producers, made this momentous commitment to invest $3 billion in iron ore processing and steel development in Nigeria.

Minister Audu expressed his jubilation 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 revitalize and transform the nation’s steel industry”

The statement further added that the News is coming on a  day when the Presidential Tribunal upheld the elections of President Tinubu, adding 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

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