Indian Investors to pump $4bn into Nigerian economy

The Minister for Communications, Mr. Adebayo Shittu, on Monday, said some Indian businessmen have shown Interest to invest $4 billion into Nigeria’s manufacturing sector.

Mr. Shittu disclosed this in Abuja while briefing newsmen during a press conference to announce the 4th Indo-Africa Information and Communications Technology (ICT) Expo 2018 scheduled to hold this month in Lagos.

The Minister said the Indian investors made the promise last year when he met with them at an investment forum in Switzerland.

Read also: We are impressed by Nigeria’s growth- World Bank

According to him, “When I went to Switzerland last year, I met with some Indian investors who promised to invest at least $4 billion on manufacturing industries in Nigeria.”

He added that other foreign investors had also indicated interest in investing in Nigeria as the country’s large population size is a great opportunity for them.

Shittu assured Indian investors of abundance of resources which are yet untapped and the huge potential market in Nigeria.

Speaking earlier, the Indian High Commissioner to Nigeria, Mr. Shri Reddy said the event was expected to bring together over 300 companies/delegates from India and Africa and also attract over 3000 visitors for the exhibition.

The envoy added that the expo will serve as a platform to bring together thought leaders across the entire ICT value chain to discuss solutions to regulatory issues and businesses.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now