Nigeria may soon witness one of its biggest foreign direct investment inflows as a Qatari business delegation, led by Sheikh Abdulrahman Hamad N. H. Al-Thani, announced plans to invest $300 billion across multiple sectors over the next decade.
The announcement came at a weekend reception in Lagos hosted by Elan Vert Nigeria Limited. The visit, widely described as historic, signals renewed confidence in Nigeria’s economy following reforms under President Bola Ahmed Tinubu’s administration.
Princess Adebowale Odutola, Chairman of Elan Vert, called it “a defining moment for Nigeria”, noting that the investors had chosen Nigeria as their next frontier after the 2022 FIFA World Cup boom in Qatar.
.“They’re investing about $300 billion in sectors including aviation, agriculture, renewable energy, infrastructure, oil and gas, and mining,” she said.
Odutola added that the Qatari team would visit Abuja to assess priority sectors and begin discussions with government officials.
“If you do not invest in Nigeria between now and the next 10 years, you’re locked out,” she quoted the investors as saying. “By then, we’ll be reaping our returns on equity.”
Confidence in Reforms and New Economic Direction
Odutola attributed the renewed investor interest to ongoing reforms by President Tinubu’s team.
“Tell me, who says this administration is not working? The investors are coming because of the stability they see,” she said, expressing optimism that Nigeria would soon become a global economic hub.
“Give us ten years, and people will begin to buy Nigerian passports,” she added. “The foundation being laid will soon yield dividends. The administration has paid off debts, stabilised the economy, and created an environment where investors now have confidence to come in. Nigeria is open for business.”
Her optimism found support from Dr Abdelgalil Sharaf, Chief Executive Officer of the Future Union Group, which coordinated the Qatari mission. He said the group was dedicated to mobilising Arab investment into Africa’s development through strategic, commercially viable projects.
“We are happy to be in Nigeria,” Sharaf said. “We look forward to rich collaborations in aviation, oil and gas, and infrastructure.”
Could this mark a true turning point for Nigeria’s FDI landscape, or will it go the way of past unfulfilled promises?
Lawmakers Welcome Investment as Proof of Renewed Confidence
Abdul-Azeez Olajide Adediran (Jandor), a former PDP governorship candidate now in the APC, described the Qatari pledge as evidence that Nigeria’s economic direction is restoring investor trust.
“Before this administration came on board, Nigeria’s foreign investment reputation had become sad, especially with forex policies that made fund repatriation difficult,” he said.
“Now, with reforms easing repatriation and stabilising the foreign exchange market, Nigeria is again the number one investment destination in Africa.”
Deputy Majority Leader of the Lagos State House of Assembly, Adedamola Richard Kasunmu, hailed the announcement as a testament to growing synergy between government and business.
“Developments like this show that collaboration between the public and private sectors will make our nation thrive,” he said.
Kasunmu assured the delegation that adequate legislation was being prepared at both state and federal levels to protect foreign investors.
“Investors are no longer moving out; they’re coming in,” he added. “Electricity and telecommunications reforms are helping Nigeria find its feet again.”
With $300 billion on the table, the real test may not be Nigeria’s potential, but its ability to deliver trust, transparency, and continuity.
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