Nigeria has secured $7.6 billion in investment interests during the Africa Investment Forum 2024, which took place in Rabat, Morocco, from December 4 to 6.
This announcement was made by Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), through a post on his X (formerly Twitter) account on Saturday.
In his message, Adesina expressed enthusiasm about the potential economic benefits these investments could bring, noting the involvement of several Nigerian state governors at the forum, including those from Lagos, Kaduna, Katsina, Kwara, Plateau, and Ogun.
He stated, “I am delighted the Africa Investment Forum 2024 mobilised $7.6bn of investment interest for Nigeria... We will keep working to support & boost investments to Nigeria.”
The Africa Investment Forum serves as a crucial platform for accelerating investments across the continent and has previously attracted over 2,300 participants from various sectors. Last year’s forum facilitated a total of $29.2 billion in investment interests across diverse projects in energy, infrastructure, agriculture, and technology.
The recent investment interest is viewed as a strong endorsement of Nigeria's economic potential and ongoing reforms aimed at attracting foreign capital. Earlier in December, the AfDB announced it had mobilized $2.2 billion for the Special Agro-Industrial Processing Zones (SAPZ) Nigeria Phase II project during the forum.
Banji Oyelaran-Oyeyinka, Senior Special Adviser to the AfDB President, highlighted that this amount exceeds what has been raised for similar initiatives across twelve African countries involved in the program.
During a presidential boardroom meeting on December 4, various stakeholders—including Nigerian governors and representatives from multilateral development organizations—committed to enhancing financial support for the SAPZ initiative.
