Nigeria Woos $100b Annual Investment as FATF Delisting Boosts Confidence
By Patience Ikpeme
Nigeria requires sustained annual investments of about $100 billion until 2043 to close its infrastructure deficit, which is estimated at over $2.3 trillion.
The Infrastructure Concession Regulatory Commission (ICRC) announced on Thursday that the nation’s removal from the Financial Action Task Force (FATF) grey list will fast-track this financing goal through robust Public-Private Partnerships (PPPs).
The ICRC calls on both local and international investors to leverage the restored investor confidence following the FATF delisting, stating that the move will unlock a new era of investment in infrastructure.
The ICRC believes the new financing environment created by the FATF exit will be crucial for addressing Nigeria’s immense infrastructure gap.
The Commission noted: “The ICRC believes this milestone will serve as a magnet for institutional investors, impact funds, and global financiers seeking credible, transparent, and rewarding investment opportunities in Nigeria’s infrastructure space.”
According to the ICRC, the exit from the grey list directly impacts investment risk and opportunity.
Dr. Jonson Ewalefoh, Director General of the ICRC stated that: “Nigeria’s clean financial bill means lower risk premiums, smoother cross-border transactions, and renewed investor confidence. It directly strengthens our mission at ICRC to attract innovative financing that bridges Nigeria’s infrastructure gap.”
The Commission urged investors to utilize this historic opportunity “to partner with the Nigerian government in developing transformative infrastructure projects across key sectors—transportation, power, water, healthcare, and technology.”
Dr. Ewalefoh further assured that: “Nigeria is open for business like never before… With FATF’s delisting and our strengthened PPP framework, the stage is set for a new wave of infrastructure investment that will redefine Nigeria’s economic landscape.”
The ICRC attributed its enhanced efficiency to the policy direction of President Bola Ahmed Tinubu’s administration, noting that its processes have been substantially reformed to accelerate project delivery.
The Commission detailed the following institutional changes under the current leadership: The streamlining of PPP processes to fast-track project delivery. The securing and implementing of Presidential approval for new, lower project approval thresholds for Ministries, Departments, and Agencies (MDAs), specifically N20 billion and N10 billion, respectively, to accelerate smaller projects. The issuance of a comprehensive regulatory framework providing clear, step-by-step guidelines from project conception to hand-back.
The ICRC concluded that these reforms position the commission for greater impact in facilitating large-scale infrastructure development.
