India Commits $60b Investment to Nigeria as Edun Touts Reform Success
By Patience Ikpeme
India has confirmed investment commitments of approximately $60 billion in Nigeria, a figure which the Indian High Commissioner, Mr. Abhishek Singh, stated reflects the nation’s long-standing partnership and continued confidence in Nigeria’s economic future.
Mr. Singh made the disclosure on Thursday in Abuja during a meeting with the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. Discussions between the two focused on deepening economic cooperation, particularly in power, infrastructure, renewable energy, and technology.
The High Commissioner pointed to India’s substantial footprint in Nigeria’s power sector, noting ongoing projects, including power plants, substations, and solar grid installations executed by Indian firms such as Skipper.
“India holds the Minister of Finance and Coordinating Minister for the Economy Mr. Wale Edun in very high regard,” Singh noted, praising Mr. Edun’s leadership and Nigeria’s reform momentum.
Mr. Singh also presented a symbolic handcrafted gift and conveyed goodwill from the Government and the people of India.
In his response, Mr. Edun acknowledged India’s role as a key development and investment partner, adding that there were opportunities for expanded collaboration in renewable energy, digital infrastructure, technology transfer, and private-sector investment, all areas aligned with Nigeria’s growth priorities.
Both countries agreed to strengthen bilateral ties and advance shared economic prosperity.
In a separate development, Minister Edun spoke in Akure on Wednesday at the South West Stakeholders Dialogue, stating the Federal Government’s commitment to disciplined fiscal reforms, transparency, and private-sector-driven growth under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The Minister told stakeholders that the removal of fuel subsidies and foreign-exchange reforms have strengthened public finances, improved confidence, and redirected national resources towards citizens and productive investments.
“Nigeria’s resources are now benefiting the many, not the few. Our reforms are levelling the playing field, boosting competitiveness, and enabling sustainable economic expansion,” he stated.
Mr. Edun also outlined early gains, listing faster GDP growth, easing inflation, and a stabilising exchange rate. He noted key interventions such as direct benefit transfers, student financing under NELFUND, and plans for a 90,000-kilometre fibre-optic network across the country to expand digital access and support innovation.
The Minister said: “We are creating the right conditions for business to thrive and for every Nigerian to participate in the nation’s progress,” adding that the administration remains focused on reforms that attract investment, deepen economic inclusion, and position Nigeria for long-term prosperity.
