President Bola Tinubu has unveiled 65 investment projects requiring $78.5bn in funding across five sectors of Nigeria's economy, with the proposed investments projected to generate 366,763 jobs. The oil, gas and power sector accounts for 25 projects requiring $36.4bn, while transport and maritime comprises eight projects with a combined capital requirement of $25bn. Agriculture and agro-processing accounts for six projects requiring $9.8bn, industry and manufacturing has 17 projects requiring $6.6bn, and technology, health and urban services includes nine projects with an estimated capital requirement of about $700m.
The largest individual project is the Ondo Modular Refinery, requiring $15bn from the oil, gas and power sector. Other major projects include the Strategic Deep Sea Ports at $11.5bn in the transport and maritime category and the One Million Hectare Tree Crops initiative at $6.14bn in agriculture and agro-processing. Across the portfolio, 17 of the 65 projects require more than $1bn each, accounting for approximately $72.3bn or more than 90 per cent of the total investment sought.
The projects are distributed across Nigeria's six geopolitical zones, with the South South region hosting 17 projects, the South West 11, and the remaining zones containing between five and seven projects each. The Projects Nigeria investment portal lists these projects with various financing structures including public-private partnerships, project finance, equity and debt arrangements, and climate finance. Sponsors include federal agencies, state governments, private-sector entities and the Nigeria Sovereign Investment Authority.
President Tinubu invited Nigerian and international investors to examine the projects through the portal and engage directly with sponsors. He stated his administration would work with investors to resolve obstacles and move viable projects toward execution.