Projects Nigeria woos investors in Bangkok with $78.5bn investment pipeline

•65 projects target 366,763 jobs across five priority sectors

Nigeria is seeking to mobilise $78.5 billion in private capital for 65 investment projects projected to create 366,763 jobs, as the Federal Government used the 2026 World Bank/International Monetary Fund (IMF) Annual Meetings in Bangkok to pitch the country’s investment opportunities to global financiers.

The Projects Nigeria initiative, led by the Federal Ministry of Finance, the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO), is designed to turn Nigeria’s economic reform programme into bankable investments, productive capacity and employment.

The Nigeria Investors Forum, held on October 14 at Fairmont Bangkok Sukhumvit, brought the investment pipeline before international investors, offering opportunities for direct engagement with project sponsors across five priority sectors.

Under the theme, “Where Capital Meets Opportunity At Scale,” the initiative covers oil, gas and power; transport and maritime; industry, manufacturing and mining; agriculture and agro-processing; and technology, health and urban services.

The oil, gas and power sector accounts for the largest share, with 25 projects requiring $36.4 billion. Other featured opportunities include the $1.7 billion Project Reliaxx midstream development, the $2.69 billion MIPL Ammonia and Phosphate project, the $1.29 billion Lagos Greenline Railway and a $1.25 billion integrated steel upgrade.

The investment pitch comes as Nigeria seeks to consolidate improving macroeconomic indicators and attract capital into sectors constrained by infrastructure gaps, financing needs and low productive capacity.

The Projects Nigeria platform cites real gross domestic product growth of 4.43 per cent in the second quarter of 2026, headline inflation of 15.39 per cent in August, external reserves of $54.6 billion as of mid-September and capital importation of $10.3 billion in the first quarter.

Nigeria’s return to the FTSE Russell Frontier Market Index and the inclusion of its naira-denominated bonds in JPMorgan’s Government Bond Index-Emerging Markets (GBI-EM) are also highlighted as indicators of renewed investor interest.

Speaking during a fireside chat at the forum, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said President Bola Tinubu was committed to taking difficult economic decisions even when they were politically unpopular.

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He cited the President’s understanding of economic policy, including respect for the independence of the monetary authority, as an important factor supporting the government’s direction.

Oyedele said the government was preparing further measures to address food supply constraints, power-sector challenges, inflation, regulatory bottlenecks and gaps in economic data.

He said details of the initiatives were being finalised for publication on the Ministry of Finance’s website.

Also speaking, CBN Governor Olayemi Cardoso said investor confidence had returned to the Nigerian market, stressing that sustained price stability was essential to protecting purchasing power and supporting long-term investment.

He said inflation had declined from about 34–35 percent to 15 percent, but the monetary authorities would continue working towards their medium-term target of single-digit inflation.

“Inflation is probably the biggest tax on the poor,” Cardoso said, explaining why reducing price pressures remained a priority.

The governor’s remarks highlighted the policy challenge facing Nigeria as it seeks to attract investment while maintaining macroeconomic stability and improving living standards.

Meanwhile, director-general of the DMO, Patience Oniha, addressed concerns about the volume of government borrowing and market volatility following the release of the debt issuance calendars for the fourth quarter.

She explained that the calendars combined refinancing of maturing obligations with new borrowing, adding that the increase in issuance after the passage of the budget reflected both requirements.

According to her, the volumes were not substantially different from those recorded in the third quarter, although the first and second quarters had been relatively slow.

Oniha said the DMO would continue to monitor market conditions, interest rates and investor demand in determining the timing and volume of its borrowing.

Her comments underscored the need to balance government financing requirements with market capacity and borrowing costs as investors assess Nigeria’s fiscal outlook.

From the audience, Julia Tanama, director of the EDM Board, Development Bank of Nigeria, welcomed the government’s policy direction but urged officials to make job creation a more explicit measure of success.

She said unemployment remained a major weakness in the economy despite progress on reforms.

“We are more mindful and conscious of the level of job creation, because that remains our Achilles heel as a country,” she said.

Afolabi Oke, General Director of Global Research, cited a Thai company’s experience in Nigeria as evidence of the country’s commercial potential.

He said the company had invested more than $8 million in Nigeria about 12 months earlier and was now generating over $12 million in the country, with operations spanning 10 African countries.

Oke said the experience demonstrated how Nigeria could serve as a base for businesses seeking to expand across African markets.

For investors, however, the decisive test will be whether the $78.5 billion pipeline attracts firm financing commitments and moves from project listings to implementation.

Delivering on the projected 366,763 jobs will depend on the commercial viability of the projects, access to long-term financing, reliable infrastructure and a predictable regulatory environment. The Bangkok forum has provided a platform to market the opportunities; converting investor interest into funded projects will determine its economic impact.