The Presidential Office announced on Friday that President Bola Tinubu intends to leverage his participation in the upcoming G20 Leaders’ Summit in New Delhi, India, to attract more foreign direct investments (FDI) aimed at bolstering economic development.
Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, made this announcement while addressing State House correspondents at the Presidential Villa in Abuja.
He highlighted that President Tinubu’s presence at the forthcoming global event, slated for September 9th and 10th, is not restricted to attendance alone. He has already scheduled numerous meetings and discussions with global business and political leaders to present investment opportunities within vital sectors of Nigeria’s economy.
He went on to explain that the President’s itinerary encompasses engagements with prospective investors looking to invest in Nigeria’s steel development, electricity generation, transmission, distribution, shipyard construction capacity, and various other sectors with significant job creation potential for Nigerians.
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In his words, ‘We brief you today on His Excellency, President Bola Ahmed Tinubu’s preparations for the upcoming G20 Summit in New Delhi, India on September 9 to the 10th of this month. The focus of the Summit will be heavily predicated on the urgent need to attract foreign direct investment in-country and to ensure that we are able to mobilize private capital from around the world toward the development of Nigeria’s public infrastructure.’
‘In addition to that, we are focused on engagements that will be dealing with critical sectors of the national economy, involving steel development, involving electricity generation, transmission and distribution, involving shipyard building capacity, and involving several other industries, which we know to be labour intensive, to ensure that we can create as many jobs for our teeming youth population as possible.’
‘To this end, His Excellency Mr. President, will be meeting with a cross-section of heads of state as well as industrial leaders, Titans, and chief executive officers of some of the world’s most valuable companies, particularly those of Indian origin.’
‘So, His Excellency, President Bola Ahmed Tinubu, will be hosting a CEO roundtable, which will be made up of more than 20 chief executive officers of major industries across multiple sectors of the Indian economy to ensure that we leverage on their interest in investing in the country, in such a way that suits the industrialization initiative of the Renewed Hope Agenda of Mr. President.’
‘In addition to that CEO roundtable, there will be at least five meetings with the CEOs of five major industries in India, including Jindal Steel and Power Company, amongst a few others that would have a very important impact on our ability to develop the steel sector in our country’, he said.
He also mentioned that the President is set to meet with other international leaders, most notably India’s Prime Minister, Narendra Modi, and will make time to engage with the Nigerian community residing in India.