Photo File: Members of the Nigeria Governor’s Forum

The 36 state governors on Tuesday launched a new investment platform designed to boost Nigeria’s attractiveness to foreign investors.

The initiative, called “NGF Investopedia,” was unveiled in Abuja under the auspices of the Nigeria Governors’ Forum (NGF). According to the Forum, the platform is aimed at addressing Nigeria’s low foreign direct investment (FDI) inflows, which have averaged just $2 billion annually—less than 0.5 per cent of the country’s Gross Domestic Product (GDP).

Speaking at the launch, NGF Director-General Abdulateef Shittu described the project as a “new dawn in Nigeria’s investment readiness at the subnational level.” He noted that Nigeria faces an infrastructure financing gap of about $100 billion annually and nearly $1 trillion over the next decade.

“States collectively budgeted more than ₦17.5 trillion for capital projects in 2025, reflecting their commitment to transform infrastructure and social services,” Shittu said. “Yet financing constraints and fragmented entry points often prevent investors from engaging at scale. The NGF Investopedia seeks to solve this by curating bankable projects across all 36 states and offering investors a one-stop shop backed by transparency, strong oversight, and global visibility.”

NGF Chairman and Kwara State Governor, AbdulRahman AbdulRazaq, echoed the call for Nigeria to tap into both global and African capital financing opportunities.

“Over the last decade, FDI inflows into Nigeria have averaged only $2 billion annually, concentrated mostly in oil and gas, telecommunications, real estate, and agriculture. While these sectors are important, they have not catalysed the scale of transformation needed at the subnational level,” AbdulRazaq stated.

He further noted the growing role of African Direct Investment (ADI), with investors from South Africa, Morocco, Egypt, and Ghana expanding into Nigeria’s banking, fintech, agribusiness, and infrastructure sectors. “This intra-African capital is particularly significant under the African Continental Free Trade Area (AfCFTA), reflecting a growing confidence in Nigeria’s markets,” he added.

Despite this, AbdulRazaq stressed that bridging Nigeria’s $100 billion annual infrastructure financing gap requires mobilising both public and private capital.

“To unlock prosperity, we must mobilise global and African capital to finance projects that create jobs, modernise infrastructure, and drive inclusive growth,” he said. “The NGF Investopedia is not just a catalogue—it is an entry point that shows investors where and how to invest in Nigeria with confidence.”

The NGF Investopedia will be published biennially, highlighting major state projects across sectors while providing detailed analyses, incentives, and market insights for investors.