Foreign Investment Nigeria gets $14 billion investment pledges from India, seeks economic pact


Staff member
Nigeria gets $14 billion investment pledges from India, seeks economic pact.


Intro: India has pledged to support the Nigerian economy with $14 billion of investments. Despite current global economic uncertainty, a spokesperson for Nigeria's president declared that India's Jindal Steel and Power have committed to pumping $3 billion into Nigeria's steel sector while Indorama Corp is planning to invest an additional $8 billion to expand its petrochemical facility there. Furthermore, Nigeria has expressed interest in building an economic cooperation pact with India in order to strengthen financial ties further and promote growth between the two nations. This news from Nigeria comes as a sign of hope for other developing countries across the globe, demonstrating that potential partnerships between them and larger economic powers can still be forged in times of crisis.