The 36 state governors, under the auspices of the Nigeria Governors’ Forum (NGF), have launched a new investment platform designed to boost Foreign Direct Investments (FDIs) and accelerate infrastructure development across the country.
The platform, named NGF Investopedia, was officially unveiled in Abuja as a strategic response to Nigeria’s low FDI inflows, which have averaged just $2 billion annually — less than 0.5% of the nation’s GDP.
Speaking at the launch, the NGF Director-General, Abdulateef Shittu, said the platform marks “a new dawn in Nigeria’s investment readiness at the subnational level.”
He noted that Nigeria’s infrastructure financing gap is estimated at $100 billion annually and nearly $1 trillion over the next decade, far beyond what public budgets alone can handle.
“States have collectively budgeted over ₦17.5 trillion for capital projects in 2025, showing a strong commitment to improving infrastructure and social services. However, financing constraints and fragmented entry points often deter large-scale investor engagement.
NGF Investopedia is designed to solve this challenge by curating bankable pipelines of projects across all 36 states. It offers investors a one-stop shop backed by transparency, institutional oversight, and global visibility,” Shittu explained.
In his remarks, NGF Chairman and Kwara State Governor, AbdulRahman AbdulRazaq, stressed the importance of mobilising both international and African capital.
“Despite averaging $2 billion in annual FDI over the past decade, inflows remain heavily concentrated in oil and gas, telecoms, real estate, and agriculture. These sectors are critical, but the scale has been insufficient to drive true subnational transformation,” AbdulRazaq said.
He added that African Direct Investment (ADI) into Nigeria is steadily growing, with capital from South Africa, Morocco, Egypt, and Ghana flowing into banking, fintech, agribusiness, and infrastructure.
“This intra-African investment is vital under the African Continental Free Trade Area (AfCFTA) as it reflects rising confidence in Nigeria’s markets and opportunities,” he noted.
A Gateway for Investors
AbdulRazaq emphasised that bridging the $100 billion annual infrastructure gap requires strong private capital partnerships.
“To unlock prosperity, we must finance projects that create jobs, modernise infrastructure, and drive inclusive growth. NGF Investopedia is not just a catalogue of projects; it is an entry point that shows investors where and how to invest in Nigeria with confidence,” he said.
The NGF Investopedia will be a biennial publication, spotlighting key projects across multiple sectors, alongside policy analyses, investment incentives, and market insights.
