Nigeria Leads African Investment Initiative with OECD Support

The Nigerian federal government is championing the African Virtual Investment Platform (AVIP) to address the continent's low share of global Foreign Direct Investment (FDI), which is under 5% despite Africa's 18% of the world population. During a technical engagement with the Organisation for Economic Cooperation and Development (OECD) delegation in Abuja, Minister of Trade and Investment, Dr. Jumoke Oduwole, stated that Nigeria supports AVIP and is ready to be a pilot country.

She highlighted the importance of the OECD Investment Policy Review in strengthening Nigeria's investment policy and institutional framework under President Bola Ahmed Tinubu's Renewed Hope Agenda. Oduwole mentioned significant reforms over the past 18 months, including unifying foreign exchange windows and over 180 business climate reforms.

The OECD Review will assess Nigeria's investment framework, focusing on promotion, facilitation, and sustainable investment. Nigeria will showcase its project pipeline, including Special Economic Zones and green economy projects, with full inter-ministerial cooperation established.