By Abubakar Yunusa
Akinwumi Adesina, president of the African Development Bank (AfDB), says Nigeria secured $7.6 billion in investment pledges during the 2024 Africa Investment Forum held in Morocco.
Speaking in a post on his X on Saturday, Adesina expressed excitement about the investment commitments to Nigeria, commending the active participation of several Nigerian state governors at the forum.
“I am delighted the Africa Investment Forum 2024 mobilised $7.6bn of investment interest for Nigeria,” the post reads.
“It was great to have several State Governors: Lagos, Kaduna, Kastina, Kwara and Plateau, and (later) Ogun. We will keep working to support & boost investments to Nigeria.”
On December 6, 2024, the Africa Investment Forum announced that it recorded a total of $29.2 billion in new investor interests.
Adesina, who is also the chair of the forum, described the achievement as “truly outstanding.”
He noted that the figure could increase as discussions and negotiations on additional investments are still going on beyond the 37 deals already prepared.
Adesina revealed that the 2024 Africa Investment Forum market days saw participation from 2,300 investors and delegates from 83 countries, a 60 percent increase compared to the previous year.
“The waves of the Africa Investment Forum are cascading investment ripples from Africa to all parts of the world…I am proud that we have achieved for Africa,” Adesina said.
“Across 41 investment boardrooms, investors and project developers gathered to review, discuss and engage on 37 investment projects. The projects varied from transport, power, energy, agribusiness, industry, mining, pharmaceuticals, private equity, tourism, urban infrastructure, water management and water and sanitation.”
The AfDB president also announced that the forum has secured commitments from 15 new sponsors, including banks, insurers, and export credit agencies, for its upcoming editions.
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