Tinubu meets Indian Billionaire Hinduja over foreign investment in Nigeria
President Bola Tinubu has arrived in New Delhi, the Indian capital for a six-day office visit, during which he will attend the G20 Leaders’ Summit and other engagements.
The President arrived at the Indira Gandhi International Airport, Delhi alongside some senior government officials, including ministers and presidential aides. He thereafter proceeded to a meeting with Mr. Prakash Hinduja, the Chairman and CEO of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100 billion U.S. Dollars.
This was disclosed in a statement by the Special Adviser to the President, Ajuri Ngelale, saying the meeting began around 8:00 p.m. local time.
“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,” Tinubu was quoted as saying.
“With my support, there is nothing 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.”
On his part, 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 liase with and we will get to work immediately, particularly with respect to bus and automobile manufacturing in Nigeria, amongst other areas,” the industrialist said.
Responding, the Nigerian President 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.”
After the President assigned the task of concluding the agreement to the two Ministers in collaboration with Hinduja Group Executives, who were present in the room, the industrialist could not hide his excitement.