Managing Director, Infrastructure Corporation of Nigeria (InfraCorp), Dr. Lazarus Angbazo, has called for global investors in Nigeria’s critical and strategic sectors of the economy, including roads, energy, aviation, rails and the digital space, among others.
Angbazo, who spoke in New Delhi at the Nigeria-India Presidential Roundtable and Conference during the G20 Summit, said with Nigeria’s status as the largest economy in Africa, coupled with its youthful and educated population, abundant natural resources, and given its strategic advantageous geographical location, offers a wealth of investment opportunities for Indian businesses, especially in the field of infrastructure.
Anggazo said he did not doubt Nigeria’s readiness for investment, adding that “Nigeria is fully open for business, now more than in the past decade.”
He stressed the rapid economic reforms undertaken by President Bola Ahmed Tinubu’s administration within weeks of taking office, saying these reforms which include removing fuel subsidies, harmonizing foreign exchange rates, and commercializing critical sectors, signal a transformative shift in Nigeria’s economic landscape, opening doors to faster growth and opportunities for international investors.
He said Tinubu’s focus on infrastructure development, spanning roads, rail, aviation, ports, energy, digital, and social infrastructure, are aimed at boosting domestic economic growth and enhancing the overall business environment and creating a fertile ground for foreign investment.
The highlighted specific investment prospects within Nigeria, particularly in agriculture, manufacturing, mining, and the power value chain. As he enumerated these opportunities, the audience nodded in agreement, recognizing the immense potential for partnership and growth, stating that Nigeria and India share tremendous investment synergies.
The time for collaboration has never been more opportune, he said, adding that the Infrastructure Corporation of Nigeria (InfraCorp), the nation’s pivotal entity for mobilising private capital investment in public infrastructure, develops and packages bankable and attractive infrastructure projects, for public-private partnerships.
Source : TheNation