Nigeria has received an investment commitment of $14 billion from India covering various industries, as stated by the country’s Minister of Foreign Affairs, Yusuf Tuggar.
The announcement took place during the 5th Ministerial Press Conference held in Abuja on Thursday.
Aside from the investment from India, the nation has also obtained €250 million for local enterprises via funding from the Netherlands.
Tuggar pointed out that the Federal Government saw an impressive 300 percent over-subscription for its latest Eurobond issue, which significantly strengthened the nation’s fiscal position.
Tuggar also mentioned that Nigeria has entered into strategic Memorandums of Understanding with 10 nations to enhance bilateral ties.
The listed nations encompass Germany, Saudi Arabia, China, Equatorial Guinea, France, Cuba, Qatar, the United Kingdom, India, and Brazil.
These accords are designed to boost collaboration in critical areas including energy, petroleum and natural gas, farming, and infrastructure development.
He stated, "FG enabled $14 billion in investments across various sectors from Indian sources. They secured €250 million for Nigerian enterprises through Dutch channels. Additionally, the Nigerian Eurobond issuance witnessed a 300 percent over-subscription."
Nigeria entered into significant Memorandums of Understanding (MOUs) with countries such as Germany, Saudi Arabia, China, Equatorial Guinea, France, Cuba, Qatar, the United Kingdom, India, and Brazil. These agreements aim to bolster critical areas including energy, petroleum and natural gas, farming, and construction.
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