…Nigeria’s infrastructure financing gap estimated at over $100bn annually – Abiodun
Algiers|| The Nigerian Governors’ Forum (NGF) has officially launched a new investment platform, ‘Investopedia’, in Algeria, marking a bold step towards repositioning Nigerian states as credible and competitive investment destinations.
Speaking at the launch, Dapo Abiodun, governor of Ogun State, described Investopedia as a strategic initiative that reflects the NGF’s collective commitment to unlocking economic potential across the country.
He noted, “Today marks a significant milestone for the Nigerian Governors’ Forum and for our country. We are here for the launch of NGF Investopedia, a platform that I believe will stand as one of the lasting legacies of our leadership and stewardship.”
According to him, despite being Africa’s largest economy and richly endowed with both human and natural resources, Nigeria’s foreign direct investment (FDI) inflows have remained relatively low, averaging only about $2 billion annually over the past decade, which is less than 0.5 p of GDP. These inflows have primarily been concentrated in oil and gas, telecommunications, real estate, and agriculture. While these sectors remain important, they do not fully capture the diverse opportunities needed to drive transformational growth across the country’s subnational economies.
At the same time, African direct investment (AfDI) into Nigeria has been gaining momentum, with regional investors from countries such as South Africa, Egypt, Ghana, and Morocco expanding their presence in sectors including banking, fintech, agribusiness, and infrastructure. This trend, especially in the context of the African Continental Free Trade Area (AfCFTA), signals growing confidence among African partners in the potential of Nigeria’s subnational markets.
However, Nigeria still faces an enormous infrastructure financing gap, estimated at over $100 billion annually, a challenge that cannot be overcome by government funding alone. According to Governor Abiodun, bridging this gap will require the mobilisation of both global and African capital to finance projects that generate employment, develop infrastructure, and foster inclusive growth.
“This is the core objective of NGF Investopedia: to serve as a one-stop, transparent, and credible platform offering a curated pipeline of investment-ready projects across Nigeria’s 36 states and the Federal Capital Territory. It is not just a catalog of opportunities, but a gateway that shows investors not only where to invest, but how to do so with clarity and confidence,” he said.
Abiodun emphasised that the platform is made possible through the collaborative support of development partners and financial institutions. Afreximbank is helping to move strategic projects from concept to financial close through innovative financing tools. The United Nations Development Programme (UNDP) is providing support to help states build the institutional capacity necessary to maintain credible project pipelines. Private finance partners will also play a key role in mobilising additional resources and unlocking blended finance opportunities after the platform’s launch.
He stressed that Investopedia is not just a publication, but a living platform that will evolve and scale real investment into the Nigerian economy. It is built to catalyse channelling capital into impactful and sustainable development projects.
Governor Abiodun also acknowledged the contribution of CapitalTrust Holdings in the development of the NGF Fund Roadmap. The NGF Fund, a complementary initiative to Investopedia, will operate as a pooled investment vehicle to attract catalytic capital into well-vetted subnational projects. Anchored on NGF governance and supported by key institutions such as the Ministry of Finance Incorporated (MOFI), the Nigeria Sovereign Investment Authority (NSIA), the Central Bank of Nigeria, Afreximbank, and other development finance institutions, the fund is expected to ensure that the opportunities identified in Investopolis translate into tangible, on-the-ground investments.
He reiterated the NGF’s vision of positioning Nigerian states as viable and attractive destinations for long-term capital. The benefits of such investments, he said, go beyond financial returns. They create jobs, improve livelihoods, and lay the foundation for sustainable development.
“When an investor builds a road, funds an agro-processing facility, finances renewable energy, or supports ICT infrastructure, the impact reaches far beyond profit. These are investments in our people and our future,” he said.
Governor Abiodun concluded with a clear call to action. “To our distinguished investors here in Nigeria, across Africa, and globally, I extend this invitation: come and partner with Nigerian states. The opportunities are vast. The commitment is firm. The time is now. With NGF Investopedia and the NGF Fund, we are sending a clear message: Nigerian subnationals are open, credible, and investment-ready.”
He officially declared that the NGF Investopedia had launched.
