PBAT Attracts $3b Investment For Steel Sector

President Bola Ahmed Tinubu has attracted a $3 billion investment pledge from Indian investors to boost the nation’s Steel Sector.

This is contained in a statement signed by the Special Assistant Media & Publicity to the minister of Steel, Abdullahi Haruna in Abuja.

The statement says the agreement was reached after an extensive discussions between President Tinubu and the leadership of Jindal Steel and Power Limited on the sidelines of the G-20 Summit during the Nigeria-India economic round-table in New Delhi, India.

According to the statement the Minister of  Steel Development, Prince Shuaibu Abubakar Audu, described the laudable achievement as a historic move that will boost the nation’s steel industry.

“I commend 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”

“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” Haruna adds.

It also stresses that the cherry news came on a day the Presidential election Tribunal upheld the elections of President Bola Tinubu.

“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” Haruna states.

Georgina Humphrey, Edited By Grace Namiji