The Federal Government is seeking $78.5bn in private-sector investment to finance 65 projects across key sectors of the Nigerian economy, with the initiative expected to generate an estimated 366,763 jobs.
The investment opportunities were presented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Central Bank of Nigeria Governor, Olayemi Cardoso, at the ongoing IMF-World Bank Annual Meetings in Bangkok.
According to the Federal Ministry of Finance’s Projects Nigeria investment portal, the projects cover oil and gas, electricity, manufacturing, mining, transportation, agriculture, technology, healthcare and urban development. The energy sector accounts for the largest share, with 25 projects, followed by industry, manufacturing and mining with 17.
Among the proposed investments are a $1.7bn crude oil evacuation and midstream infrastructure project, the $1.29bn Lagos Greenline Railway and a $2.69bn ammonia and phosphate fertiliser project. Other proposals include a $1.25bn integrated steel upgrade and a $1.6bn New Port City development.
Oyedele said the government had established a dedicated Nigeria Deal Room to provide potential investors with project details, financing requirements and access to relevant government authorities. He added that reforms targeting electricity supply, agricultural productivity and regulatory challenges were necessary to improve the investment climate.
Cardoso said reducing inflation remained important to protecting household purchasing power. He also highlighted efforts to strengthen the financial system and outlined Nigeria’s ambition to increase economic growth, crude oil production and infrastructure investment.
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