Nigeria is not building enough. Here’s why that matters for growth

When a country builds roads, factories, power plants, or buys machinery, it is investing in its future. Economists call this Gross Fixed Capital Formation (GFCF), but essentially, it comes down to one question: is the country building its future or not?

In Nigeria’s case, that answer has been leaning toward no. But that may be starting to change.

Economists describe GFCF as the value of new or existing fixed assets acquired by businesses, governments,