• Wednesday, February 28, 2024
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USAID convenes Nigeria’s industry leaders to discuss importance of infrastructure investment

US hosts investor roadshow in Nigeria to explore opportunities

The U.S. Agency on for International Development (USAID), on Wednesday convened industry leaders, investors, and entrepreneurs for a one-day conference to reinforce the importance of infrastructure investment in Nigeria and showcase investment opportunities in strategic sectors.

Participants were of the view that how Nigeria grows, advances, and develops going forward relies on infrastructure investments.

The conference, themed “Investing in Development,” showed that private sector investment in infrastructure is a vital pathway to achieving the Government of Nigeria’s development objectives across key sectors in Nigeria.

Participants engaged with industry leaders and gained insights into emerging trends and opportunities in these sectors. They also learned from presentations on infrastructure investment opportunities in the agro-industry, digital technology, financial services, and energy and renewables sectors.

Read also: Domestic capital seen as missing piece in Nigeria’s infrastructure puzzle

Through the two-year USAID-funded activity, Mobilising Institutional Investment for Infrastructure Development in Nigeria, also known as INVEST, USAID will build the capacity of the institutional investor community in Nigeria.

Implemented in Nigeria by investment bank Chapel Hill Denham, INVEST will galvanize private sector investments in infrastructure to support the country’s resilience to shocks and drive economic growth and development.

“The INVEST activity and the partnership between USAID and Chapel Hill Denham will attract investments that will create jobs, improve infrastructure, and drive progress in key sectors of the Nigerian economy,” said Sara Werth, Acting USAID/Nigeria Mission Director, at the conference. She added, “Our discussions today will impact how we can work together to enable low-carbon and resilient infrastructure in Africa.”

Nigeria will gain increased private sector investments in infrastructure to renew interest from foreign investors and ultimately boost economic growth for the country.