Hinduja Group plans to make investments in Nigerian auto industry
G20 summit. “We are going to make investments into the billions of dollars under your leadership, because we see you are already addressing the systemic problems," said Prakash Hinduja, the company’s chairman.
He also expressed his willingness to sign a memorandum of understanding with the Nigerian government after meeting with President Bola Tinubu. The West African nation is striving to attract foreign investments to help stabilize the naira.
It is worth noting that naira has lost more than 40% of its value in 2023. Nigerian president has assigned his finance and trade ministers to finalise a deal with the company after working on its details, confirmed the spokesperson for Tinubu.
“We are here for business," Tinubu said in New Delhi. “I am here to personally assure our friends and investors that there is no bottleneck that I will not break," to help them invest in Nigeria.
To utilise the opportunity of G20 summit for generating foreign investment, Nigeria plans to hold an investment roundtable with Indian businessmen on Wednesday. The meeting is expected to be joined by Aliko Dangote, Africa’s richest man, and other top bankers and businessmen fron the African nation.
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