Minister: Indian businessmen to invest $4bn in Nigeria

The Minister of Communications, Adebayo Shittu, yesterday said some Indian investors have indicated interest to invest about $4 billion in Nigeria’s manufacturing sector.

Mr Shittu, who disclosed this during a press conference to announce the 4th Indo-Africa ICT Expo 2018 in Abuja, said the Indian investors made the promise last year at an investment forum in Switzerland.

The event is scheduled to hold on May 22-23, 2018 in Lagos.

‘’When I went to Switzerland last year, I met with some Indian investors who promised to invest at least $4 billion on manufacturing industries in Nigeria’’, the minister said.

He said apart from the Indian investors, many foreign investors had also shown interest in investing in the country as Nigeria’s population is a great opportunity for them.

Shittu, therefore, assured Indian investors of many untapped resources and a huge potential market in Nigeria.

Speaking earlier, the Indian High Commissioner to Nigeria, Mr Shri Reddy said the event was expected to bring together over 300 companies/ delegates from India and Africa as well as attract over 3000 visitors for the exhibition.

The expo will serve as a platform to bring together thought leaders across the entire ICT value chain to discuss solutions to regulatory issues and business, the envoy said.