Though the 2025 World Economic Forum (WEF) has officially come to an end, it was a great opportunity for Nigeria to showcase to the world the reasons for being a prime investment destination.
Jumoke Oduwole, Nigeria’s Minister of Trade and Investment in a series of strategic meetings with some of the world’s most influential business leaders and diplomats turned series of diplomatic bilaterals into potential game-changing economic opportunities for Nigeria.
For instance, the ministerial diplomatic initiative at Davos saw Oduwole securing potentially transformative connections with global powerhouses.
Adebayo Ogunlesi, chairman, Global Infrastructure Partners, emerged as a key ally, committing to lead a high-profile investment advisory group that will make biannual visits to Nigeria, a move that could significantly redirect international investment flows.
Also, in a significant move to bolster Nigeria’s economic prospects, Adebayo Ogunlesi, renowned global business leader, chairperson of Global Infrastructure Partners and Board member of Open AI committed to supporting the nation’s investment drive.
Ogunlesi had at the recently held World Economic Forum at Davos tasked Nigeria’s Minister of Industry, Trade, and Investment with coordinating a distinguished global investment strategic group, which he will lead on biannual visits to Nigeria to engage with President Bola Ahmed Tinubu.
Oduwole commended Ogunlesi for his outstanding leadership at the cutting edge of global innovation and strategic investment, and emphasized that his continued commitment to Nigeria’s economic advancement is a strong signal to serious investors across the world of our reformed investment and trade policy direction, stating, “Nigeria is poised to become a leading investment destination, particularly in the area of digital trade and technology innovation. We welcome this laudable show of confidence for the administration of President Bola Ahmed Tinubu GCFR by Mr Bayo Ogunlesi.”
The Global Investment Strategic Group will focus on key priority sectors that drive Nigeria’s economic development, including infrastructure, technology, agriculture, and energy, to position Nigeria as a preferred hub for international investors. The initiative aligns with President Tinubu’s Renewed Hope Agenda and underscores the Administration’s commitment to fostering economic diversification and inclusive growth.
The Minister who thanked Ogunlesi also expressed enthusiasm and readiness to facilitate the successful engagement of the Global Investment Strategic Group, highlighting the potential for transformative impact in Nigeria’s investment landscape by building trust and providing game-changing economic opportunities for Nigeria by bringing some of the world’s most influential business leaders and investors, including leading Nigerians in the diaspora, to Nigerian soil.
In addition, there were other targeted meetings with global corporate leaders, including global CEO and executives from Coca-Cola, which signalled growing corporate interest in the Nigerian market. These weren’t mere courtesy meetings, but strategic discussions about market potential, investment corridors, and economic collaboration.
The minister’s diplomatic reach extended to critical economic conversations. Meetings with representatives from the United Arab Emirates and Saudi Arabia hint at deepening economic partnerships in the Middle East, while discussions with the Member of Parliament of Swiss Federation representatives promise enhanced trade relationships.
Of particular note was the engagement with Ngozi Okonjo-Iweala, a global economic strategist whose insights could prove instrumental in positioning Nigeria’s economic narrative on the world stage. Each conversation and each handshake in Davos represents more than diplomatic protocol. They are calculated steps in President Bola Tinubu’s broader vision of economic transformation, repositioning Nigeria as an attractive destination for global investment.
The outcomes are promising: in the area of digital trade and technology innovation, agriculture, exports manufacturing collaborations, and a renewed global perception of Nigeria as an economic opportunity.
Redd also: Edun meets Ogunlesi, OpenAI’s new board member at Davos
Major takeaways from the meetings
Key themes of bilaterals
In the conversation with Henrique Braun EVP & Chief Operating Officer and Zoran Bogdanović, CEO of Coca-Cola Hellenic Bottling, that invested $1.5 billion over the past 11 years. Further solidifying this partnership, the company has announced plans to invest an additional $1 billion by 2030. With eight operational factories and a workforce of nearly 3,000 people, the company plans to open the Apapa recycling plant this week. This event marks a significant milestone in Coca-Cola’s sustainability. On regulatory concerns, particularly with the Federal Competition and Consumer Protection Commission (FCCPC), the Minister’s office pledged to provide dedicated support to address these challenges, ensuring a conducive business environment for further investments. On
Coca-Cola’s vision to scale export operations from Nigeria, both parties have agreed to further discussions on potential collaborations within the digital space. This initiative aligns with Nigeria’s drive towards a digital economy and enhanced supply chain efficiencies.
When Oduwole met with Majid Al Qassabi, Minister of Commerce, Saudi Arabia, the latter which is set to become one of the most sought-after destinations for businesses, thanks to the structural and legal reforms committed to knowledge sharing on the frameworks of reforms and improving business climate for Nigeria. The Minister was supportive and advised on platforms and methods to facilitate the investment of Saudi Arabia businesses in Nigeria. Both of them shared knowledge on prospective investors and how to foster and promote investment opportunities across the economy.
During Oduwole’s meeting with Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade, UAE, they explored investment opportunities in Nigeria and to maintain stability and clarity in agreements to encourage investments. Discussion were made around market access and trade remedies and services.
When the Minister of Trade and Investment met with Andrew Macdonald Senior Vice-President, Mobility and Business Operations UBER, their focus was on leveraging Africa’s unique market advantages such as high population density and young talent.
Specific focus is placed on Nigeria and how Uber can expand its operations effectively in high-growth African markets. They also looked at Nigeria’s vast market potential and opportunities for further investment, the need for better vehicle access, affordability, and compliance with regulations.
Aside these meetings, Oduwole’s other engagements at the World Economic Forum targeted at the African Continental Free Trade Area and digital trade. In chat with CNBC Africa, she reiterates the AfCFTA digital trade protocol has been completed and will be ratified next month. She highlighted the need for African businesses to be well placed for harness prospects ahead.
The completion and ratification of the AfCFTA digital trade protocols signify Africa’s commitment to enhancing intra-continental and global trade through digital platforms.
Digital trade offers African businesses unprecedented opportunities to overcome traditional trade barriers, connect with global markets, and drive economic growth.
Nigeria’s economic agenda underlines the importance of attracting investments, fostering impact investment, and promoting sustainable practices to fuel economic development and empower the continent’s youthful population.
…She echoes Africa’s readiness to embrace digital trade
At Davos, Oduwole’s message to the world echoes Africa’s readiness to embrace digital trade, foster sustainable development, and harness the potential of its burgeoning youth population. With a strategic focus on economic partnerships, impact investment, and environmental sustainability, Nigeria is poised to play a pivotal role in shaping Africa’s economic future. By embracing digital technologies, enhancing trade facilitation, and empowering its youth, Africa is well-positioned to lead the world in economic growth and innovation.
In addition, Oduwole, who is championing the cause for Africa to lead the way in digital trade and economic growth revealed that the AfCFTA digital trade protocols have been finalised and are set to be ratified next month in Addis Ababa.
The goal is to ensure that African businesses are strategically positioned to leverage the opportunities that lie ahead. Oduwole highlighted that while the rest of the world is still grappling with fragmentation in digital trade, Africa is making significant progress and wants to lead the way. She emphasised the importance of African businesses being well-prepared to harness the benefits of digital infrastructure and public services like single windows.
The concept of digital trade is foundational to Africa’s economic growth strategy. Oduwole explained that digital trade involves using technology to facilitate trade among African businesses and with the global market. Through digital marketplaces and e-commerce platforms, African businesses can overcome traditional barriers to trade and connect with partners across borders. She cited the example of Afrexim Bank’s payment system, which enables intra-African trade in local currencies, saving the continent billions of dollars annually. Digital trade not only enhances efficiency and reduces costs but also opens up new market opportunities for African businesses.
Regarding the global economic landscape, Oduwole acknowledged the challenges posed by increased protectionism and fragmentation, particularly from the global north. She underscored Nigeria’s focus on attracting and retaining investments, positioning the country strategically in diplomatic and economic spheres. By forging new partnerships and leveraging existing relationships, Nigeria aims to amplify its influence and voice on the global stage. Oduwole highlighted the significance of Nigeria’s engagement with organizations like BRICS and aspirations to become a formal member of the G20.
Navigating complex global dynamics requires Nigeria to align its economic policies with the shifting geopolitical landscape. Three key pillars guide Nigeria’s economic agenda under Oduwole’s leadership. The first pillar focuses on attracting businesses to generate profits within Africa, emphasizing that the continent is not merely a source of corporate social responsibility but a platform for wealth creation and circulation. The second pillar promotes impact investment, highlighting Africa’s potential to address social challenges at scale through innovative technologies and solutions.
Oduwole stressed that every investment in Africa has the power to impact millions of lives, making it an attractive destination for socially conscious investors. The third pillar centers on sustainable development, with a focus on environmental stewardship and responsible investment practices. Oduwole emphasized the need for investors to adhere to sustainable principles while engaging with African markets. As Africa positions itself for economic growth and digital transformation, Oduwole emphasized the importance of nurturing the continent’s youthful population and leveraging their talents.
With Africa’s population being the youngest and fastest-growing globally, there is a significant opportunity to channel youth energy and creativity towards productive ventures. Oduwole advocated for policies that support job creation, talent retention, and skill development to equip African youth for the demands of the global marketplace. By fostering a conducive environment for entrepreneurship and innovation, Nigeria and the broader African continent can lead the way in digital trade and economic progress.
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