Africa Investment Forum: Folarin Alayande discusses projects in the pipelines for Nigeria

Nigeria is positioned to maximise the benefits of the Africa Investment Forum. This is according to Folarin Alayande, Senior Special Assistant to the President of Nigeria. He spoke to CNBC Africa’s Kenneth Igbomor about the five projects Nigeria brought to the AIF last year, and the speed dating for deals as countries vie for their share of the $67 billion worth of deals on this year’s platform.

Tue, 12 Nov 2019 10:49:40 GMT

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AI Generated Summary

Nigeria presents four new projects at the Africa Investment Forum 2019, including an integrated lubrication and petroleum refining plant in Lagos and the Animba Economic City in Southeast Nigeria.
Positive feedback from initial meetings with international banks and agencies highlights strong investor interest in Nigeria's projects.
Government officials and multilateral organizations provide assurances to investors on Nigeria's business environment, with efforts to promote private sector-led initiatives.

Nigeria's presence at the Africa Investment Forum continues to showcase the country's commitment to maximizing investment opportunities. Folarin Alayande, Senior Special Assistant to the President of Nigeria, highlighted the progress made on projects from the previous year and the promising projects being presented in 2019. Last year, Nigeria presented five projects including the geometric project in Southeast Nigeria and a gas commercialization project. Significant advancements have been made on these projects, with talks to reach financial close already in progress. This year, Nigeria is presenting four new projects at the forum. These projects range from an integrated lubrication and petroleum refining plant in Lagos to the Animba Economic City in Southeast Nigeria, a manufacturing hub and residential facility. Additionally, the Lagos Cable Car Project and Proton Delta Sunrise City Project aim to ease transportation and boost electricity production in the country. The feedback from initial meetings has been positive, with interest from international banks and agencies indicating a strong investor interest in Nigeria's projects. The presence of government officials and multilateral organizations like the African Development Bank at the forum provides assurances to investors regarding the business environment in Nigeria. Nigeria's improved ranking in the World Bank's Ease of Doing Business index further underscores the country's commitment to creating an enabling environment for investments. The government's engagement with the private sector aims to encourage more private sector-led initiatives and ensure a conducive environment for businesses to thrive. The governor of Abia state and other state governors present at the forum showcase the collaborative efforts between the federal and state governments to attract investments. With a focus on transparency, efficiency, and support from government officials, Nigeria reaffirms its openness to businesses and invites investors to explore the vast opportunities available in the country.