Nigeria’s presidency is positioning Nigeria as a leading investment destination under the African Continental Free Trade Area (AfCFTA), saying the country’s large domestic market and access to the wider African market make it an attractive base for investors seeking regional growth.
Speaking at the sixth Chief Financial Officers (CFO) Luncheon organised by Forvis Mazars in collaboration with the Franco-Nigerian Chamber of Commerce and Industry in Lagos, John Uwajumogu, special adviser to President Tinubu on industry, trade and investment, said Nigeria’s estimated population of 244 million, combined with the market access offered by AfCFTA, presents a compelling investment proposition.
He said the energy, infrastructure and financial services sectors offer opportunities for investors, while ongoing reforms to improve policy consistency and establish co-investment platforms are expected to strengthen investor confidence.
Uwajumogu, however, acknowledged that Nigeria must address longstanding structural constraints if it is to fully benefit from AfCFTA. He identified limited access to large-scale investment, inconsistent business policies, inadequate industrial capacity and outdated trade infrastructure as major challenges that continue to constrain businesses.
