Financial News

Indian tycoon to invest billions in Nigeria's automobile industry, courtesy of Tinubu's investment drive

The billionaire Chairman and CEO of Hinduja Group of Companies met with President Bola Ahmed Tinubu in New Delhi, India, yesterday and pledged to invest billions of dollars into Nigeria’s burgeoning automobile industry.

President Tinubu warmly welcomed Hinduja, demonstrating Nigeria’s eagerness to foster robust partnerships.

According to the President’s Special Adviser on Media and Publicity, Tinubu declared that he is in India with one focus: attracting investments to Nigeria with lucrative opportunities for investors and also providing gainful employment opportunities for Nigeria’s populace.

According to Ngelale’s statement, Tinubu affirmed, “We are here for business. I am here to assure our friends and investors that there is no bottleneck I will not break. Nigeria will become one of the most conducive places 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 and hardworking nature of the Nigerian people. We are open for business.”

Hinduja conveyed his unwavering commitment, stating that his organisation trusts the president’s leadership and proven ability to identify and address challenges.

“We will invest billions of dollars under your leadership because we see you are already addressing the systemic problems.”

Hinduja confirmed his readiness to invest: “I am ready now to sign an MoU and 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.”