NGF Unveils Investopedia: A New Investment Gateway for Nigeria
The Nigeria Governors’ Forum (NGF) has introduced Investopedia, a pioneering investment platform aimed at positioning Nigeria’s 36 states and the Federal Capital Territory (FCT) as appealing destinations for both local and international investors.
Unveiled at a ceremony in Abuja, this initiative aims to consolidate opportunities within vital sectors such as agriculture, renewable energy, information and communication technology (ICT), finance, and infrastructure into a singular entry point for prospective investors.
The platform promises to enhance transparency, streamline project access, and mitigate the risks often encountered in the Nigerian investment landscape.
Bridging the Financing Gap
During the launch, NGF Chairman and Kwara State Governor AbdulRahman AbdulRazaq underscored an urgent necessity for mobilizing alternative financing to address the substantial infrastructure gap in Nigeria, estimated at an annual $100 billion.
“Over the past decade, foreign direct investment inflows have stagnated at merely $2 billion per year—representing less than 0.5 percent of GDP, predominantly confined to limited sectors. Reliance on public projects alone cannot bridge this significant deficit,” AbdulRazaq articulated in comments delivered by Nasarawa State Governor Abdullahi Sule.
The NGF plans to publish Investopedia biannually, distributing both print and digital editions that will spotlight credible, bankable projects across various sectors. The platform is also set to be presented at prestigious international forums such as the UN General Assembly, the Intra-African Trade Fair, and the Africa Investment Forum.
“This is not merely a brochure; it serves as a tool to demonstrate to investors not only where to invest but also how to invest with assurance,” asserted the NGF Chairman.
Features of the Platform
Abdulateef Shittu, the Director-General of the NGF, referred to Investopedia as a “new dawn” for enhancing sub-national investment readiness in Nigeria.
Objectives of the Platform:
- Simplifying investor access by consolidating projects across states into a single transparent gateway.
- Instilling confidence through rigorous due diligence and reliable project data.
- Cultivating partnerships that encompass financing, technical assistance, and risk management.
“With Investopedia, we are shifting from merely discussing Nigeria’s investment potential to showcasing actionable and bankable prospects,” Shittu remarked.
Collaborative Efforts and Support
This initiative was developed in collaboration with state investment agencies, NGF technical teams, and partners including Afreximbank, the UN Development Programme (UNDP), and the Ministry of Finance.
It will be bolstered by the NGF Fund, which has the backing of the Central Bank of Nigeria (CBN), the Nigeria Sovereign Investment Authority (NSIA), and the Ministry of Finance Incorporated (MOFI) to mobilize catalytic capital for state-level initiatives.
International stakeholders have also committed their support. Peter Olowononi, Afreximbank’s Head of Client Relations for Anglophone West Africa, characterized Investopedia as a “catalytic tool” that links credible state-led ventures to global funding opportunities.
Additionally, US Embassy Economic Counsellor Christine Harbaugh expressed Washington’s commitment, stating that the United States aims to bolster sub-national economies in Nigeria by advocating trade, transparency, and effective governance.
Restoring Investor Confidence
Observers note that, despite its vast natural and human resources, Nigeria’s states have historically encountered challenges in attracting substantial investments due to policy inconsistency, inadequate infrastructure, and security issues.
By aggregating verified investment opportunities under institutional oversight, the NGF aspires to dismantle these barriers and restore investor faith.
“This is a signal to global markets that Nigeria’s sub-nationals are primed for investment,” AbdulRazaq pronounced.
“Through Investopedia and the NGF Fund, we can collaboratively bridge the infrastructure divide and usher in a new era of prosperity for our citizens.”
Source link: Smallbusinessinsights.ng.
