Nigeria has attracted a significant $7.6 billion in investment interest during the 2024 Africa Investment Forum (AIF) held in Rabat, Morocco. The announcement, made by Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), underscores Nigeria's growing role as a key investment destination in Africa. The forum, which was launched in 2018, is designed to accelerate the continent's economic transformation by mobilizing investments in high-impact sectors.
During the event, several Nigerian state governors presented a range of investment-ready projects across vital industries, including infrastructure, energy, agriculture, and technology. This initiative not only showcased the country's investment potential but also highlighted Nigeria's commitment to fostering a conducive environment for foreign capital. The AIF's Market Days, a central feature of the event, serves as a platform that connects investors with project sponsors, government leaders, and policymakers, thereby facilitating meaningful investment opportunities.
The total investment interest generated at the 2024 AIF reached an impressive $29.2 billion for the entire African continent, with Nigeria securing a substantial portion of that amount. This success reflects the increasing investor confidence in the country's economic prospects and strategic importance within the African market.
The event reinforced the AfDB's mission to support Africa's development through targeted investments that drive growth, create jobs, and improve infrastructure. With such strong backing, Nigeria is well-positioned to leverage this investment interest to address key challenges and fuel its long-term economic development.