Federal Government don dey look for $78.5bn from private investors to carry out 65 big projects wey go cover important parts of Nigeria economy. Government talk say the money go help businesses grow, increase production and create more work for Nigerians.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, join Governor of Central Bank of Nigeria, Olayemi Cardoso, present the investment opportunities during the ongoing yearly meeting of International Monetary Fund and World Bank for Bangkok.
According to information wey dey the Federal Ministry of Finance investment website, the projects cover oil and gas, electricity, manufacturing, mining, transportation, farming, technology, healthcare and development of towns and cities.
Government estimate say if investors provide the money and carry out the projects, dem fit create 366,763 jobs for Nigerians.
Oyedele talk say government don set up special office wey dem call Nigeria Deal Room to give investors all the information wey dem need about the projects, the money wey each one require and the government officials wey fit guide dem through the process.
Electricity and energy projects get the highest number, with 25 projects wey need money. Manufacturing, industry and mining get 17 projects, while transportation and sea-related projects get eight.
Farming and processing of farm produce get six projects, while technology, healthcare and services for towns and cities make up the remaining nine projects.
One of the projects na Project Reliaxx, wey go provide facilities to help move crude oil from where dem produce am go where dem need am. The project require $1.7bn and government expect am to help reduce problems wey dey affect movement of crude oil and money wey Nigeria dey make from oil.
The proposed Lagos Greenline Railway project need $1.29bn, while the Multipurpose Industrial Platforms Limited project to produce ammonia and phosphate fertiliser require $2.69bn.
Other projects include the Premium Steel and Mines plan to improve steel production, wey need $1.25bn; PELIA project to use gas wey companies dey waste to power an artificial intelligence data centre, wey require $355.6m; and a $105m centre for processing farm produce and keeping am fresh before export for Giri, Abuja.
The proposed New Port City development also dey among the projects, and e require about $1.6bn.
Oyedele explain say government dey plan more changes to make am easier for investors to bring money enter Nigeria. Some of the problems wey government wan address include the cost of electricity, difficulty in moving electricity from one place to another, low farm production and too many rules wey fit delay businesses.
E also point to lower inflation, cheaper loans and better cooperation between government spending policies and Central Bank policies as important things wey fit help the economy grow.
The minister mention the Economic Development Incentive, wey allows some businesses to receive tax credits under Nigeria new tax system. Government say the measure na part of efforts to encourage businesses to invest in areas wey fit increase production.
Cardoso, on im part, talk say reducing the rise in prices of goods and services remain important to protect the money wey Nigerians, especially poor families, dey use buy things.
E also point to improvements for Nigeria capital market and banking sector. According to am, banks raise about N4.6tn during the exercise to increase their financial strength, with about 72 per cent of the money coming from Nigeria capital market.
The CBN governor say Nigeria dey target economic growth of seven per cent by 2027 or 2028. E also talk say the country plan to increase crude oil production to three million barrels every day and raise the value of infrastructure to 75 per cent of the country total economic output.
Cardoso add say Nigeria foreign reserves don become stronger, giving the country better ability to face sudden problems wey fit affect the economy from outside.
Earlier, World Bank Group talk say e dey help Nigeria attract up to $5.79bn from private investors during the 2026 financial year. The programmes wey the money go support fit create about 850,000 direct and indirect jobs.
