The Federal Government is seeking $78.5bn in private-sector investment to finance 65 projects across key sectors of the Nigerian economy, as part of efforts to attract capital, expand production and create jobs.
Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele and Central Bank of Nigeria Governor Olayemi Cardoso presented the investment opportunities during the ongoing IMF-World Bank Annual Meetings in Bangkok.
Information published on the Federal Ministry of Finance’s Projects Nigeria investment portal shows that the proposed projects cover oil and gas, electricity, manufacturing, mining, transportation, agriculture, technology, healthcare and urban development.
The government estimates that the investment pipeline could create 366,763 jobs.
Oyedele said a dedicated Nigeria Deal Room had been established to provide potential investors with detailed information about the projects, their financing requirements and access to relevant government officials.
The energy sector accounts for the largest portion of the portfolio, with 25 projects requiring funding. Another 17 projects fall under industry, manufacturing and mining, while transport and maritime infrastructure account for eight.
Agriculture and agro-processing have six proposed projects, while technology, healthcare and urban services account for the remaining nine.
Among the opportunities is Project Reliaxx, a crude oil evacuation and midstream infrastructure initiative requiring $1.7bn. The project is expected to address infrastructure constraints affecting the movement of crude oil and potentially limiting production and revenue.
The proposed Lagos Greenline Railway requires $1.29bn, while the Multipurpose Industrial Platforms Limited ammonia and phosphate fertiliser project has an estimated funding need of $2.69bn.
Other projects include a $1.25bn integrated steel upgrade by Premium Steel and Mines, the $355.6m PELIA Flare-Gas AI Data Centre and a $105m agro-processing and cold-chain export hub in Giri, Abuja.
The proposed New Port City development is also included in the portfolio, with an estimated capital requirement of $1.6bn.
Oyedele said the government was pursuing additional reforms to address barriers to investment, including electricity pricing challenges, transmission limitations, low agricultural productivity and regulatory inefficiencies.
He identified declining inflation, lower borrowing costs and improved coordination between fiscal and monetary policies as important factors for achieving sustainable economic growth.
The minister also highlighted the Economic Development Incentive, which offers tax credits to eligible businesses under Nigeria’s reformed tax framework, as one of the measures designed to encourage investment in productive sectors.
Speaking at the meeting, CBN Governor Olayemi Cardoso said bringing inflation down remained critical to protecting household purchasing power, particularly among low-income earners.
He also pointed to developments in the capital market and banking sector, stating that banks raised approximately N4.6tn during the recapitalisation exercise, with about 72 per cent of the funds sourced from the domestic capital market.
Cardoso said Nigeria was targeting economic growth of seven per cent by 2027/2028, supported by higher oil production and increased infrastructure investment.
He added that the country planned to increase crude oil output to three million barrels per day and raise its infrastructure stock to 75 per cent of gross domestic product.
According to the CBN governor, stronger external reserves had also improved Nigeria’s ability to withstand external economic shocks.
Separately, the World Bank Group had disclosed that it was helping to mobilise up to $5.79bn in private financing for Nigeria in fiscal year 2026, with programmes expected to support approximately 850,000 direct and indirect jobs.
Source: PUNCH
