Nigeria unveils 65 investment opportunities in Bangkok pitch

Nigeria has put 65 investment opportunities across key sectors before investors, in a bid to attract domestic and foreign capital, create jobs and speed up economic growth.

 

The opportunities were presented in Bangkok, Thailand, during the ongoing Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.

 

The presentation was made by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso.

 

Oyedele said the projects covered oil and gas, power, transport, agriculture, manufacturing, mining, technology, healthcare and urban services.

 

According to him, a dedicated deal room has been set up to give investors project details, funding requirements and direct access to the relevant authorities.

 

The minister said further reforms would tackle electricity pricing, transmission constraints, agricultural productivity and regulatory inefficiencies to improve the business environment.

 

He listed lower inflation, reduced borrowing costs and better coordination of fiscal and monetary policy as essential to sustainable economic growth.

 

Oyedele also pointed investors to the Economic Development Incentive, which offers tax credits to qualifying businesses under the reformed tax framework.

 

He urged them to prioritise long-term investments in productive sectors that can create jobs and expand domestic capacity.

 

Cardoso, in his remarks, said bringing down inflation was crucial to protecting household purchasing power, especially among low-income Nigerians.

 

The CBN governor said monetary and structural reforms had improved the performance of the capital market and strengthened confidence in Nigeria's financial system.

 

He said banks raised about N4.6 trillion during the recapitalisation exercise, with about 72 per cent of the funds coming from the domestic capital market.

 

According to Cardoso, Nigeria is targeting economic growth of seven per cent by 2027/2028, along with higher oil production and expanded infrastructure investment.

 

"The country plans to raise oil production to three million barrels per day and increase its infrastructure stock to 75 per cent of Gross Domestic Product (GDP).

 

"Stronger external reserves have also improved Nigeria's capacity to withstand external economic shocks," he said.