Nigeria Secures $14 Billion Investment from India Amid Strategic MoUs

Nigeria has secured $14 billion in investments from India, with additional €250 million for local businesses, according to Foreign Minister Yusuf Tuggar. He announced strategic MoUs with ten countries, assured the upcoming nomination of ambassadors, and emphasized effective operation of Nigerian missions abroad despite delays. Additionally, progress in combating Boko Haram and participating in regional peacebuilding was highlighted.

The Nigerian Minister of Foreign Affairs, Yusuf Tuggar, announced that Nigeria has secured approximately $14 billion in investments from India, covering multiple sectors. This investment was revealed during a presentation at the 2025 Ministerial Press Briefing held by the Ministry of Information and National Orientation. Additionally, Tuggar noted an acquisition of €250 million to support local businesses in Nigeria.

During his address, Tuggar indicated that Nigeria achieved a remarkable 300% over-subscription rate, reflecting strong global investor confidence. This was supported by the signing of strategic Memorandums of Understanding (MoUs) with ten countries, including Germany, Saudi Arabia, China, and Equatorial Guinea, among others.

Addressing future diplomatic appointments, Tuggar assured that names of nominated ambassadors would be submitted to the Senate soon. He stated that despite the delay in appointments, Nigeria’s missions abroad continue to function effectively with established personnel including immigration and military officers.

Regarding concerns on visa matters with China, Tuggar clarified that Nigeria is not collaborating in any arrests linked to visa issues, attributing the situation to Chinese nationals traveling without the correct documents during the COVID-19 pandemic.

On national security, Tuggar highlighted advancements in combating Boko Haram, stressing that these militants have been significantly weakened. He pointed out the establishment of a safe corridor in Borno, where suspected militants can be processed responsibly.

Tuggar took pride in Nigeria’s role in regional peace initiatives, referencing the country’s contributions to stability in Sierra Leone and Liberia. He emphasized the importance of recognizing Nigeria’s efforts and learning from its experiences as a nation.

In summary, Nigeria has successfully attracted significant investments from India and other nations, reflecting a renewed global confidence in its economy. The Minister of Foreign Affairs reassured that diplomatic missions remain operational despite delays in ambassadorial appointments. Furthermore, Nigeria’s efforts in improving national security and contributing to regional stability demonstrate its commitment to international cooperation. Continued efforts in diplomacy and investment seek to enhance Nigeria’s standing on the global stage.

Original Source: tribuneonlineng.com