Nigeria has made a fresh push to attract global capital into its infrastructure sector, positioning the country as a high-growth investment destination.
Speaking at the Nigeria Infrastructure Investment Forum held at Standard Bank International Headquarters in London on Thursday, Chairman of the Nigerian Exchange Group, Alhaji (Dr) Umaru Kwairanga, said Nigeria offers a compelling investment case anchored on natural and human capital.
Kwairanga, who addressed global investors alongside representatives of the Nigerian government, said the country is actively seeking long-term infrastructure investments to unlock its economic potential.
What the NGX Chairman is saying
According to him, Nigeria’s investment appeal rests on two key pillars: abundant natural resources and a young, dynamic population.
He highlighted the country’s vast agricultural land, significant mineral deposits including rare earth elements, and favourable climate as critical assets.
In addition, he noted that more than half of Nigeria’s population is under 30, describing the workforce as educated and industrious.
- “These two pillars stand Nigeria and Africa to be the growth engine of the twenty-first century, but we need a third pillar to make the tripod complete. That third pillar is world-class infrastructure,” he said.
Kwairanga pointed to gaps in roads, ports, electricity, and rail systems, noting that large-scale investments are needed to modernise these sectors and improve Nigeria’s global competitiveness.
More insights
Positioning Nigeria as a high-return investment destination, the NGX chairman emphasised that the country is not seeking aid but mutually beneficial partnerships.
- “We are not asking for freebies. An investment in Nigeria now is akin to an investment in China in the 1980s,” he said, adding that investors stand to reap significant returns as infrastructure development accelerates economic growth.
He argued that the combination of natural resources, human capital, and improved infrastructure could drive double-digit growth in the coming years.
Kwairanga also credited ongoing economic reforms under President Bola Ahmed Tinubu for improving the investment climate.
He said the administration has spent the past three years addressing structural bottlenecks that previously constrained growth, noting that early signs of progress are beginning to emerge despite the challenges associated with the reforms.
According to him, the government’s policy direction now provides greater clarity and confidence for investors evaluating opportunities in Nigeria.
Get up to speed
On the sidelines of President Tinubu’s state visit to the UK, the Nigeria Sovereign Investment Authority (NSIA) on Tuesday signed a deal with UK-based Asset Green Ltd to develop a $500 million large-scale dairy project in Nigeria.
- The initiative is expected to reduce Nigeria’s reliance on imported dairy products, strengthen food security, and boost local production capacity across the country.
- Still during the visit, the federal government unveiled a £746 million financing agreement with the United Kingdom to modernise Nigeria’s seaport infrastructure.
- The investment targets major upgrades at the Apapa and Tin Can Island ports in Lagos.
The financing arrangement, backed by UK Export Finance (UKEF), will fund the comprehensive upgrade of the Lagos Port Complex, Apapa, and the Tin Can Island Port Complex.
What you should know
President Tinubu on Thursday met with British Prime Minister Sir Keir Starmer at 10 Downing Street, London, as part of his ongoing State Visit to the United Kingdom.
The meeting with Starmer followed the President’s formal audience and State Banquet with King Charles III and Queen Camilla at Windsor Castle on Wednesday.
The discussion between the two leaders is expected to focus on strengthening trade relations, security, migration, and economic partnerships in the areas of energy, tech, and infrastructure.
