Juliet Ezeh
Nigeria is on a mission to attract $14 billion in investment this year to close its infrastructure gap and generate up to 10 million jobs, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced on Monday in Lagos.
Speaking at the Islamic Development Bank (IsDB) Day, Edun said the country is aiming for a 7% annual GDP growth rate, a target he described as crucial to reducing poverty and outpacing Nigeria’s 3% population growth.
“We are moving from stabilisation to growth, from public financing to private investment, and from traditional borrowing to innovative financial instruments,” he said, adding that priority sectors include energy, transport, agriculture, and digital infrastructure.
Private Investment to Drive Jobs and Growth
Edun highlighted that the government plans to mobilise private capital, expand domestic capital markets, deepen the use of Sukuk, and securitise public assets to attract investors. These moves are expected to empower micro, small, and medium enterprises (MSMEs) and expand market access for local businesses.
“The goal is simple: create jobs, empower the youth, and ensure that every Nigerian can participate in the economy,” he said.
Digital Infrastructure and Innovation
Emphasising Nigeria’s youthful population, Edun said digital infrastructure would be central to boosting productivity and global competitiveness. “A connected and digitally enabled economy is key to innovation and job creation,” he added.
IsDB Partnership to Accelerate Development
Anasse Aissami, Director-General of Country Programmes, IsDB, confirmed the bank’s commitment to scaling up support across agriculture, energy, transport, health, and education, exceeding its past 25 years of engagement.
The Nigeria-IsDB engagement framework for 2026–2028 focuses on infrastructure development, social investment, innovative finance, and regional cooperation, creating opportunities for investors and job seekers alike.
With $14 billion in targeted investment and a clear job creation plan, Nigeria is positioning itself as a regional economic leader while providing a blueprint for private sector-led growth in the next five years.
