Nigeria secured $7.6 billion in investment commitments at the 2024 Africa Investment Forum, held from December 4 to 6 in Rabat, Morocco. The event, hosted by the African Development Bank (AfDB) and its partners, saw the participation of governors from Lagos, Kaduna, Katsina, Kwara, Plateau, and Ogun States.
AfDB President Akinwumi Adesina reaffirmed the bank’s commitment to supporting Nigeria’s investment growth and development, emphasising its dedication to driving economic progress in the country.
The Africa Investment Forum, created by the African Development Bank (AfDB) and its partners, serves as a platform to accelerate investments in key projects across Africa. At the 2024 forum, $29.2 billion in investment interests were secured for projects spanning energy, infrastructure, agriculture, and technology.
A significant highlight was the $2.2 billion capital mobilisation for Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) Phase II project. This amount surpasses investments raised for SAPZs across all 12 African countries covered by the programme. According to Banji Oyelaran-Oyeyinka, Senior Special Adviser to AfDB President Akinwumi Adesina, SAPZ is a transformative initiative poised to drive Africa’s industrialisation.
