FULL LIST: 65 Nigerian projects seeking $78.5bn in investment

President Bola Tinubu has unveiled 65 investment projects requiring $78.5bn in funding across five sectors of Nigeria’s economy, with the proposed investments projected to generate 366,763 jobs.

The breakdown of the projects listed on the Federal Government’s Projects Nigeria investment portal shows that the oil, gas and power sector accounts for 25 projects requiring $36.4bn, while transport and maritime has eight projects with a combined capital requirement of $25bn.

Agriculture and agro-processing accounts for six projects requiring $9.8bn, while industry, manufacturing and mining has 17 projects requiring $6.6bn.

The remaining nine projects fall under technology, health and urban services, with an estimated capital requirement of about $700m, all these were obtained in an independent check by our correspondent to the Project Nigeria website as cited by Tinubu in the Friday post on X.

There, he noted, “I invite Nigerian and international investors to examine these projects and engage directly with their sponsors through Projects Nigeria.

“Our administration will work with you to resolve obstacles and move viable investments into execution, creating jobs and expanding opportunities for our people.”

The largest project in the oil, gas and power sector is the Ondo Modular Refinery, requiring $15bn, while Strategic Deep Sea Ports leads the transport and maritime category at $11.5bn.

In agriculture and agro-processing, the One Million Hectare Tree Crops project has the highest funding requirement at $6.14bn.

New Port City, estimated to require $1.6bn, is the largest project in industry, manufacturing and mining, while the PELIA Flare-Gas AI Data Centre, requiring $355.6m, is the largest listed under technology, health and urban services.

17 of the 65 projects

Overall, 17 of the 65 projects require more than $1bn, accounting for approximately $72.3bn, or more than 90 per cent of the total investment sought.

From the check, our correspondent reports that on the portal, the projects feature different financing structures, including public-private partnerships, project finance, equity and debt, and climate finance.

The portal also identifies sponsors, including federal agencies, state governments through the Nigeria Governors’ Forum, private-sector entities and the Nigeria Sovereign Investment Authority.

Some project profiles also provide investment assessment metrics, including internal rate of return, multiple on invested capital, debt service coverage ratio, net present value and payback period.

Six geographical zones

Our correspondent also reports that the 65 projects are distributed across Nigeria’s six geopolitical zones, with seven in the North Central, five in the North East, seven in the North West, six in the South East, 17 in the South South and 11 in the South West.

Four additional projects span multiple geopolitical zones, while the remaining eight are classified as nationwide, multi-state or unspecified in scope, including initiatives involving government agencies and parastatals, as well as private-sector firms.