Nigeria is targeting up to $100 billion in investment deals as more than 100 international investors prepare to converge on Abuja in November to explore opportunities across oil and gas, agriculture, technology, mining, renewable energy and other sectors.
The planned investments come amid claims that about $58 trillion in global capital is currently idle and seeking viable investment opportunities.
President of Business Summit Group, Haider Uzzaman, disclosed this on Tuesday in Abuja while speaking on the International Investors Summit scheduled for November 10 and 11.
Uzzaman said the summit would connect international investors with Nigerian businesses, state governments and owners of investment-ready projects.
He said investors expected to attend had an appetite for projects worth more than $100 billion, with priority given to ventures that were properly structured, documented and supported by viable business models.
Other sectors expected to attract investment include infrastructure, tourism and hospitality, healthcare, education and human capital development.
According to Uzzaman, the challenge facing Nigeria is not a shortage of global capital but the ability to present credible projects capable of attracting investors.
“We are expecting to bring at least 100-plus global investors, big size, that have placed us to invest over $100 billion,” he said.
He, however, cautioned Nigerian businesses and governments against assuming that investors would commit funds without proper due diligence.
He said project owners must demonstrate professionalism, credibility and trustworthiness while presenting comprehensive business plans and clear investment propositions.
Uzzaman said most of the investors expected at the summit preferred projects valued above $10 million that were already structured and ready for implementation.
He cited Plateau State as an example of the potential benefits of direct engagement with international investors, saying the state had secured investment commitments worth more than $1 billion over the past six months.
He said the commitments were expected to translate into projects as the funds were deployed in the coming months.
Uzzaman also disclosed that a group of Saudi Arabian investors was planning to invest in livestock and poultry production in Nigeria, with the aim of producing beef and chicken for export to Saudi Arabia.
He urged Nigerians with suitable land and viable agricultural opportunities to prepare to engage the investors at the November summit.
Addressing concerns over insecurity, infrastructure deficits and other challenges that could discourage foreign investment, Uzzaman said Nigeria remained attractive because of its population, natural resources and large consumer market.
He identified agriculture, mining, oil and gas as areas with significant investment potential, while describing the country’s population and natural resources as major advantages.
On electricity, Uzzaman said inadequate investment in power generation and distribution remained a major opportunity for private investors.
He said greater private-sector participation in electricity generation and direct supply to consumers could unlock substantial investment in the sector.
He also called for stronger collaboration between governments and private investors, saying authorities must present clear, viable and properly structured opportunities.
The summit is expected to attract investors from more than 50 countries across Europe, the Americas, Asia and the Middle East.
Uzzaman said the Business Summit Group had since 2016 focused on connecting investors with businesses and governments seeking international capital.
He said the Abuja summit would prioritise direct engagement between investors and project owners, with the aim of facilitating transactions, partnerships, financing, technology transfer and job creation.
