Nigeria's Idris Belo-Osagie Promotes $78.5B Investment Pipeline

Idris Belo-Osagie, Special Adviser on Economic Strategy to the Minister of Finance and Coordinating Minister of the Economy, stated that Nigeria is open for business during an investors' forum in Bangkok, Thailand, held alongside the International Monetary Fund and World Bank Group Annual Meetings. The forum aimed to connect potential investors with policymakers and presented a pipeline of 65 projects requiring a total of $78.5 billion.

Key sectors include oil, gas, and power, which account for 25 projects valued at $36.4 billion, and transport and maritime, with eight projects worth $25 billion. Other sectors include agriculture, industry, technology, health, and urban services.

The government emphasized protections for foreign investors, such as 100 percent foreign ownership in most sectors and full repatriation of capital and profits. The projects range from $1 million to $15 billion, with 48 projects requiring less than $500 million and 17 projects needing at least $1 billion each.