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During a recent ministerial press briefing in Abuja, Foreign Affairs Minister Yusuf Tuggar announced that Nigeria has attracted a significant $14 billion investment from India, covering a range of sectors. In addition, local businesses have benefited from a €250 million injection of funds from the Netherlands.
Highlighting the strength of the country’s financial market, Tuggar noted that Nigeria’s recent Eurobond issuance was oversubscribed by 300%, further enhancing its fiscal reputation.
In a further move to bolster bilateral relations and cooperation, Nigeria has signed strategic Memorandums of Understanding with 10 countries—Germany, Saudi Arabia, China, Equatorial Guinea, France, Cuba, Qatar, the United Kingdom, India, and Brazil. These agreements are designed to drive collaboration in key sectors such as power, oil and gas, agriculture, and infrastructure.
Tuggar summarized the developments:
“FG facilitated $14bn across multiple sectors from Indian investors. Secured €250m for Nigerian businesses from the Netherlands. Our recent Eurobond achieved a 300 per cent oversubscription. Additionally, Nigeria signed strategic MOUs with Germany, Saudi Arabia, China, Equatorial Guinea, France, Cuba, Qatar, the UK, India, and Brazil to strengthen sectors like power, oil & gas, agriculture, and infrastructure.”
This series of investments and international agreements marks a robust step forward for Nigeria’s economic growth and its efforts to deepen global economic partnerships.
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