SkipperSeil Limited, an Indian-based substation equipment manufacturing company present in over 50 countries, has pledged to invest $1.6 billion in power generation in Northern Nigeria following President Bola Tinubu’s meeting with investors on Wednesday, September 6, 2023.
This is according to the Tinubu Media Center via its Twitter handle. The statement read thus:
“The Founding President of SkipperSeil Limited, Mr. Jitender Sachdeva, announced that, following President Bola Tinubu’s personal intervention, he is investing $1.6 billion U.S. dollars in the establishment of twenty 100MW power generation plants across the states of Northern Nigeria, amounting to 2,000MW of new power within the next four years.”
President Tinubu is in India for the G-20 Leaders Summit in New Delhi, India.
Tinubu will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The conference would be attended by leading industrialists in the Indian private sector, Nigerian industrialists, and senior government officials from both countries.
Presidency sources say Tinubu aims to leverage the platform to attract global capital and promote increased foreign direct investments in key labour-intensive sectors of Nigeria’s economy for job creation and revenue expansion.