Saturday, December 2, 2023

G20 Summit: Tinubu meets with Indian investor

President Bola Tinubu has started a meeting with an investor in India as part of his official visit to the country before the G20 Summit on Saturday and Sunday.

• September 6, 2023
President Bola Tinubu with Indian Investor[Credit:Daily Nigerian]

President Bola Tinubu has started a meeting with an investor in India as part of his official visit to the country before the G20 Summit on Saturday and Sunday.

A statement by presidential media aide Ajuri Ngelale said the president entered the meeting immediately on arrival after a 15-hour flight.

The president met with Prakash Hinduja, chairman and CEO of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100 billion.

The president received the industrialist within 90 minutes of his arrival in India.

Accompanied by finance, foreign affairs, trade and investment ministers, Mr Tinubu said he was in India to improve Nigeria’s economic fortunes. He said Nigeria intends to attract investments with lucrative opportunities, jobs for its citizens and new revenue opportunities for the federal and sub-national governments.

“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, there is nothing standing in your way of enjoying the unrivalled opportunities presented by our massive market and the ingenious and hardworking nature of the Nigerian people. We are open for business,” stated the Nigerian president.

The Hinduja Group chairman told Mr Tinubu he witnessed the president’s efforts as Lagos governor in turning a coastal erosion and water encroachment crisis into a massive free trade zone where industry thrives. 

He said this was partially responsible for his excitement to partner Mr Tinubu to create a 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 with respect to bus and automobile manufacturing in Nigeria, amongst other areas. 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,” Mr Hinduja said.

The president directed the trade and finance ministers to “follow this up immediately, and you will draw up the terms to the satisfaction of both parties,” adding that “if there are any issues at all that require my intervention, they must be brought to my attention immediately.”


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