Nigerian government lures foreign investors with $78bn 'deal room'

The Nigerian government has introduced a new initiative called the Deal Room, a centralized platform showcasing 65 bankable projects valued at $78.5bn, at the IMF/World Bank annual meetings in Bangkok, Thailand. The initiative, led by Finance Minister Taiwo Oyedele and Central Bank Governor Olayemi Cardoso, aims to attract foreign investors by highlighting projects in sectors such as oil and gas, power, transport, manufacturing, agriculture, technology, health, and urban services.

The delegates also reported progress in Nigeria's economic reform agenda, with a 4.43% GDP growth and a decline in headline inflation to 15.39% from 23.14% in 2025. Foreign reserves and federal allocations to states have also improved. The government's diversification efforts have led to a rise in non-oil sector receipts and stable oil production, making Nigeria more resilient to oil price fluctuations and geopolitical shocks.

CBN Deputy Governor Phillip Keazor highlighted banking recapitalisation, a rise in forex reserves to $58.81bn, and exchange rate convergence that reduced the gap between parallel and official foreign exchange markets to less than 2%. The government's vision includes maintaining economic stability through disciplined monetary, fiscal, and foreign exchange policies, expanding capital markets, mobilising long-term domestic and private capital for infrastructure and productivity, and partnering with investors to finance Nigeria's next phase of job-rich growth.

Minister Oyedele listed five critical policy reform decisions the government intends to implement. These include agric reforms, power, inflation, regulatory streamlining, and credible and transparent data. The central bank aims to bring inflation down to single digits in the medium term, acknowledging that it is a significant burden for the poor.