IFC Commits $5bn Into Nigeria In 12 Months, Targets More Projects
The International Finance Corporation Regional Director, Central Africa and Anglophone West Africa, Dahlia Khalifa, has said that the lender brought $5bn investment in Nigeria in 2024, adding that investors follow predictability.
Khalifa disclosed this during the Infrastructure Concession Regulatory Commission (ICRC) Private-Public Partnership (PPP) Summit held on Tuesday.
The IFC Director spoke on how stakeholders can generate and mobilise more private sector investment to bring about the jobs and the economic development for Nigerians.
Khalifa said, “Over the next two decades, it is estimated that Nigeria needs the equivalent of $2tn close its investment gap, including spending on physical infrastructure other key aspects for economic development. In an environment where public money is scarce, which is a reality across the world, by the way, mobilizing private capital is critical.
“To unlock the full potential of PPPs, Nigeria will continue, I have no doubt, to strengthen its institutional regulatory environment, because an enabling in transparent and predictable business and regulatory environment is the mobilizer of investment.”
She said the IFC sees clear signs that the ICRC is working in updating the PPP guidelines, and the publication of a transparent PPP project pipeline on the ICRC website to enhance planning and visibility.
“Investors follow predictability,” she said, adding “They invest where contracts are binding, and where disputes are resolved swiftly and fairly.”
The IFC Director said, “We are also very happy to be discussing programs with the Ministry of Budget and Economic Planning to develop PPP projects aligned with the National Integrated Infrastructure Master Plan, which envisions up to $2.3tn in projects in Nigeria by 2043.
“IFC will help the government of Nigeria achieve its objectives, which we already see they are well on to doing.
“But IFC does more than just provide advisory services. We also put our money where our mouth is. Last year, IFC brought in $5bn to Nigeria in investments and financing. In key examples, for example, is a $1.3bn for IHS Towers and $1.3bn for Eleme Fertilizer.”
IFC Commits $5bn Into Nigeria In 12 Months, Targets More Projects is first published on The Whistler Newspaper
