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G-20 Summit: Tinubu Secures Billion-Dollar Auto Manufacturing Investment In First Meeting [Details]

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1 year ago

Sep 6, 2023.

Eko Hot Blog reports that President Bola Ahmed Tinubu has secured a billion-dollar automobile manufacturing investment in Nigeria during first meeting following his arrival in India for the G-20 Summit.

This was made known in a statement on Tuesday by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale.

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The President on Tuesday, arrived in New Delhi to the immediate embrace of Gopichand Hinduja, the Chairman and CEO of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100 billion U.S. Dollars.

The Indian Industrialist was received by the President within 90 minutes of the President’s arrival in India for a meeting, which began around 8:00 pm local time.

Accompanied to the meeting by Nigeria’s Ministers of Finance, Trade & Industry, and Foreign Affairs, the President made it clear to his first visitor that he is in India with one focus: attracting investments to Nigeria with lucrative opportunities for investors, but most essentially, jobs for Nigerians and new revenue opportunities for Nigeria’s federal and sub-national governments.

Tinubu assured: “We are here for business. I am here to personally assure our friends and investors that there is no bottleneck that I will not break. Nigeria will become one of the most conducive places on earth to make good profits and create lasting jobs. With my support, nothing is standing in your way of enjoying the unrivalled opportunities presented by our massive market and the ingenious & hardworking nature of the Nigerian people. We are open for business.”

The Hinduja Group Chairman told the President that he was a living witness to his landmark effort as Governor of Lagos in turning a coastal erosion and water encroachment crisis into a massive free trade zone where industry now thrives.

This, he said, was partially responsible for his excitement to partner with Nigeria’s new President to create win-win prosperity for Nigeria’s talented population.

“We believe in you as a leader who has done this before. You know what the challenges are. You know how to fix them.

We are going to make investments into the billions of dollars under your leadership because we see you are already addressing the systemic problems. I am ready now to sign an MoU and to begin execution. You tell me who to liaise with and we will get to work immediately, particularly concerning bus and automobile manufacturing in Nigeria, amongst other areas,” the Industrialist enthusiastically stated.

Responding, Tinubu said: “Ministers of Trade and Finance, the two of you will follow this up immediately and you will draw up the terms to the satisfaction of both parties. If there are any issues at all which require my intervention, they must be brought to my attention immediately.”

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After the President assigned the task of agreeing to the two Ministers in collaboration with Hinduja Group Executives, who were present in the room, the industrialist could not hide his excitement.

“I have had paperwork stalled in Nigerian bureaucracy for over one year, especially in FCT, but I knew that you would be purpose-driven in this endeavour and God will help you to turn Nigeria’s rich promise into a rich reality for all of its citizens,” the Indian Billionaire concluded.

See Photos from the meeting below;