African Export-Import Bank (Afreximbank) has thrown its weight behind a new investment platform, Investopedia, launched by the Nigerian Governors Forum (NGF) to bridge the country’s infrastructure gap and attract foreign investment.
Speaking at the launch in Abuja, Peter Olowononi, Afreximbank’s Director of Client Relations for Anglophone West Africa, hailed the initiative as a roadmap connecting Nigeria’s 36 states to global and African capital. Olowononi reaffirmed Afreximbank’s support for sub-national growth through initiatives like the African Sub-Sovereign Governments Network (AfSNET), which has facilitated over $2 billion in trade and investment deals.
“Development must be decentralized,” Olowononi emphasized. “It must begin in cities, provinces, and regions, and flow outward to shape national and continental progress.”
The NGF launched Investopedia in response to Nigeria’s meager $2 billion yearly foreign investment inflow, which is less than 0.5% of the country’s Gross Domestic Product (GDP). Abdulateef Shittu, Director-General of the NGF, estimated Nigeria’s infrastructure financing gap at $100 billion annually, with a projected $1 trillion shortfall over the next decade.
Investopedia aims to address these challenges by providing a platform for states to showcase their investment opportunities and connect with global investors. According to Shittu, the platform represents a new dawn in Nigeria’s investment readiness at the subnational level.
“The infrastructure financing gap in Nigeria is estimated at $100 billion annually, nearly $1 trillion over the next decade,” Shittu explained. “At the same time, states collectively budgeted more than 17.5 trillion for capital projects in 2025, reflecting their commitment to transform infrastructure and social services. Yet, financing constraints and fragmented entry points often prevent investors from engaging at scale.”
Afreximbank’s backing of Investopedia underscores the bank’s commitment to supporting Nigeria’s economic development and bridging the country’s infrastructure gap. By connecting states with global investors, the platform has the potential to unlock billions of dollars in investment and drive economic growth across the country.
