NEW DELHI, Sept 6 (Reuters) – Nigeria has secured nearly $14 billion of pledges from Indian investors and seeks an economic cooperation pact with the South Asian nation, a presidential spokesperson said on Wednesday.
India’s Jindal Steel and Power (JNSP.NS), opens new tab has committed to pump $3 billion into Nigeria’s steel sector and Indorama Corp plans to invest an additional $8 billion to expand its petrochemical facility in the West African country, spokesperson Ajuri Ngelale said in a statement.
Skipperseil Ltd’s founding Chairman Jitender Sachdeva and India’s Bharti Enterprises each pledged $1.6 billion over four years to build power generation plants and $700 million in Nigeria, respectively, Ngelale said.
Separately, Nigeria approved a $1 billion partnership agreement with the Indian government to help the Defence Industries Corporation of Nigeria attain 40% self-sufficiency in local manufacturing and production of defence equipment in three years, Ngelale said.
https://www.reuters.com/world/africa/nigeria-gets-14-billion-investment-pledges-india-seeks-economic-pact-2023-09-06/
Nigeria gets $14 billion investment pledges from India, seeks economic pact
