Investment stakeholders have called for stronger collaboration among Nigerian states to convert investment opportunities into funded projects and support the country’s ambition of building a $1tn economy by 2030.
The call was made in Abuja during an investment mobilisation stakeholders’ roundtable organised by the Forum of State Investment Promotion Agencies of Nigeria in partnership with Brave Icons Global.
The event focused on moving state-level investment opportunities from the pipeline stage to actual capital deployment.
Ahmed Abdulrazak, Director of Contract Compliance at the Infrastructure Concession Regulatory Commission, said states needed stronger capacity for project preparation and risk assessment.
He urged states to collaborate and pool financial and technical resources, noting that preparing projects for private investment could be expensive but was essential for attracting capital.
David Oke, Vice President of the World Trade Centre, Lagos, also called for structured collaboration among states to harness their comparative advantages and attract investment. He cautioned against politicising investment promotion and encouraged greater investment in local capacity.
Paul Healey of the British High Commission said collaboration could help improve project preparation and risk assessment, while credible local partners could give overseas investors greater confidence in the Nigerian market.
FOSIPAN Chairman, Dr Terhemen Kpenkaan, said the central challenge was ensuring promising investment opportunities became financed projects, productive businesses and measurable development outcomes.
He said achieving a $1tn economy would require deliberate institution-building, credible transactions, manageable risks and clear pathways for investors.
FOSIPAN and Brave Icons Global also signed a Memorandum of Understanding for the development of the Subnational Investment Pipeline Nigeria programme, stakeholder consultation and institutional alignment.
Kpenkaan clarified that the agreement did not admit states into implementation or approve projects, but provided a framework for refining the programme and engaging institutions needed for its development.
