August 19, 2025 – The Nigeria Governors’ Forum (NGF) has launched NGF Investopedia, a new investment platform designed to unlock capital flows into bankable projects across all 36 states of the federation.
The platform was officially unveiled at an event in Abuja on Tuesday, where governors, development partners, and international investors gathered to discuss strategies for transforming Nigeria’s infrastructure financing landscape.
According to the NGF, Investopedia was created to tackle Nigeria’s annual infrastructure financing deficit, which is estimated at $100 billion. The platform aims to connect global and African investors with viable opportunities across multiple sectors, while ensuring transparency and credibility.
Speaking at the launch, Abdulrahman AbdulRazaq, NGF chairman and governor of Kwara State, emphasised the urgent need to address the funding shortfall and boost capital inflows into Nigeria’s economy.
He noted that despite the country being Africa’s largest economy with abundant resources, foreign direct investment (FDI) has remained low.
“Here is Africa’s largest economy, endowed with abundant human and natural resources,” AbdulRazaq said. “Yet over the last decade, foreign direct investment inflows have averaged only $2 billion annually, which is less than 0.5% of GDP. These investments are mostly concentrated in oil and gas, telecommunications, real estate, and agriculture—sectors that, while important, have not yet catalysed the deep, broad transformation Nigeria’s states desperately need.”
AbdulRazaq, represented at the event by Abdullahi Sule, governor of Nasarawa State, said state governments carry the heaviest burden of the infrastructure gap.
“The annual infrastructure financing gap for Nigeria is estimated at $100 billion, a figure that states bear the heaviest responsibility to bridge. Public projects alone cannot solve this problem,” he said.
“To unlock prosperity, we must mobilise both global and African capital through a unified, credible financing process that creates jobs, modernises infrastructure, and fosters inclusive growth.”
He added that NGF Investopedia would act as a gateway for investors to explore opportunities in infrastructure, agriculture, energy, and technology. “It is not just a padlock; it is an entry point showing investors not only where to invest but also how to invest in Nigeria with confidence,” AbdulRazaq explained.
Abdulateef Shittu, director-general of the NGF secretariat, highlighted the urgency of bridging the infrastructure gap, warning that the figure could rise to $1 trillion in the next decade if left unaddressed.
Shittu revealed that Nigerian states have already allocated more than N17.5 trillion for capital projects in their 2025 budgets. He said this demonstrates the commitment of subnational governments to improving infrastructure and social services but stressed that financing constraints often limit their impact.
“However, financing constraints and fragmented entry points often deter investors from engaging at scale,” Shittu said. “It provides confidence through due diligence and transparency and mobilises partnerships that extend beyond financing to include technical assistance, capacity-building, and risk mitigation.”
The director-general encouraged local and foreign investors to seize the opportunity, stating that Nigerian states are now “open for business.”
He acknowledged the role of development partners, including Afreximbank, the United Nations Development Programme (UNDP), and the Ministry of Finance Incorporated (MOFI), in supporting the creation of the platform.
Christine Harbaugh, counsellor for economic affairs at the United States Embassy in Nigeria, also spoke at the launch. She said the relationship between the United States and Nigeria is shifting from aid-based support to long-term business partnerships.
“The United States and Nigeria are now working more closely on trade, agriculture, the digital economy, and infrastructure,” she said. Harbaugh praised NGF Investopedia for its focus on transparency and collaboration, describing it as a valuable tool to strengthen trade and boost investor confidence.
Peter Olowononi, head of client relations for Anglophone West Africa at Afreximbank, said the platform reflects a homegrown solution driven by state governments.
“Investopedia serves as a compendium of opportunities driven by the Nigerian Governors’ Forum and the states,” he explained, calling it “a catalytic tool designed by the states themselves.”
Governor Abdullahi Sule of Nasarawa State highlighted his administration’s efforts to attract investors through resource-based development policies. He explained that an executive order now requires companies mining in the state to process minerals locally, a decision that has led to the establishment of Nigeria’s largest lithium processing plant.
“This policy has positioned Nasarawa as home to the largest lithium processing plant in Nigeria, soon set to be Africa’s biggest, with 6,000 power supply capacity,” Sule said. He further outlined ongoing investments in agriculture, noting that the state has allocated 10,000 hectares for solar processing and provided access to expansive farmland.
He urged investors to take advantage of the opportunities in agriculture and renewable energy, saying, “Now is the ideal time to invest in agriculture.”
The NGF said NGF Investopedia would continue to serve as a central platform for investment opportunities, helping to attract global capital and boost economic growth across all Nigerian states.