Nigeria has attracted $14 billion in investments from India, spanning multiple sectors, according to the Minister of Foreign Affairs, Amb. Yusuf Tuggar. He made this announcement during the 5th Ministerial Press Briefing in Abuja on Thursday.
In addition to this, the country has also secured €250 million from the Netherlands to support local businesses, reinforcing efforts to stimulate economic growth and development.
Highlighting Nigeria’s growing investor confidence, Tuggar revealed that the Federal Government’s recent Eurobond issuance was oversubscribed by an impressive 300%, further strengthening the country’s financial position.
Moreover, Nigeria has signed strategic Memorandums of Understanding (MoUs) with ten nations to deepen bilateral cooperation across key industries. These countries include Germany, Saudi Arabia, China, Equatorial Guinea, France, Cuba, Qatar, the United Kingdom, India, and Brazil.
The agreements are designed to enhance collaboration in critical sectors such as power, oil and gas, agriculture, and infrastructure, positioning Nigeria as a key player in the global investment landscape.
Furthermore, in a statement by the Global Economic Policy Initiative, the President Bola Ahmed Tinubu administration was commended for its visits to strategic partner countries that have fetched the country these investments.
Mr. Bernard Okri, President of the group stated on Friday that these trips, coordinated by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar have made Nigeria a global investment hub.
“President Bola Ahmed Tinubu’s strategic visits to key partner countries, coordinated by the Ministry of Foreign Affairs under Ambassador Yusuf Tuggar, are instrumental in driving Nigeria’s economic transformation.
“These diplomatic engagements have yielded billions in foreign investments, such as the $14 billion from India and €250 million from the Netherlands, directly supporting critical sectors like power, oil and gas, agriculture, and infrastructure.
“Furthermore, Nigeria’s 300% oversubscribed Eurobond issuance reflects growing investor confidence, bolstered by these high-level engagements. By strengthening bilateral ties, securing technology transfers, and fostering trade agreements, these trips are positioning Nigeria as a global investment hub, paving the way for sustainable growth, job creation, and industrial advancement.”
