CCA Special Events on the Sidelines of United Nations General Assembly: U.S.-Nigeria Business and Investment Roundtable in Partnership with the Nigeria Governors Forum

The U.S.-Nigeria Business and Investment Roundtable, co-hosted by the Nigeria Governors Forum and Corporate Council on Africa (CCA), brought together key leaders from both Nigerian state governments and the private sector to discuss investment opportunities. The event featured remarks from notable individuals, including Mr. John Olajide, Chairman of CCA, Ms. Florie Liser, CEO of CCA, and the state governors present. It was a platform for showcasing the economic and business opportunities available across various Nigerian states, focusing on sectors such as agriculture, energy, mining, and infrastructure. Highlights of the session were a presentation by the Director General (DG) of the Nigerian Governors Forum and an interactive session with the governors to establish the investment landscape across Nigerian states, where attendees were encouraged to ask questions about investment opportunities in target states. The forum underscored the importance of partnerships between the U.S. and Nigerian entities to foster growth and development via trade and investment facilitation.

Ms. Liser emphasized CCA's dedication to strengthening U.S.-Africa business relations, with Nigeria playing a key role. She highlighted CCA's focus on facilitating investments across sectors like agriculture, energy, finance, and healthcare and shared insights from a 2024 trade mission to Nigeria, where CCA reaffirmed its support for the country’s economic growth agenda.

Mr. Olajide stressed CCA's leadership in U.S.-Africa trade and outlined Kavista Holdings’ investments in Nigeria’s software, agriculture, and tourism sectors. He showcased the revival of Ikogosi Warm Springs Resort, reinforcing Kavista’s commitment to job creation and economic transformation in Nigeria while underscoring the nation’s vast investment potential.

Key Points On Subnational Investment Opportunities in Nigeria

1. Niger State: Focused on sugar production, agriculture, and infrastructure development, Niger State is prioritizing projects like a $100 million sugar production facility and a $40 million inland container terminal. Governor Umar Bago emphasized the state’s agrarian nature, large landmass, and vast livestock resources, calling on investors to participate in Niger State’s agricultural and energy projects.

2. Plateau State: The state is investing in both the creative and agricultural sectors, including a $500 million Plateau Film City project and a $300 million agro-processing zone. Governor Caleb Mutfwang stressed Plateau’s suitability for agriculture and tourism, noting that technological investments are addressing its security challenges.

3. Zamfara State: Zamfara is focusing on lithium processing and renewable energy. Governor Daudu Lawal highlighted the state’s rich mineral resources, including gold and lithium. He also highlighted the state’s potential in renewable energy projects, particularly with the Bakolori Dam.

4. Kaduna State: FDI projects highlighted in the state include a $45 million agri-processing zone and a $25 million lithium processing initiative. Dr. Muktar Ahmed, the Commissioner for Budget and Planning, emphasized Kaduna’s rich natural resources and its growing youth population, positioning it as an ideal location for agricultural and manufacturing investments.

5. Nasarawa State: Nasarawa is working on the Garku Kabusu Economic City, a $100 million project aimed at creating a sustainable urban environment. The state is also addressing energy needs through an off-grid renewable electricity plant valued at $40 million. Mr. Abdullahi from Nasarawa Investment and Development Agency (NASIDA) emphasized Nasarawa’s strategic location and resource richness, particularly in lithium mining.

6. Benue State: Benue is focusing on urban renewal projects valued at $9 million and agro-commodity initiatives. Governor Hyacinth Alia positioned Benue as Nigeria’s “food basket,” highlighting its agricultural output in yams, soybeans, and cassava and calling for industrial investments in the state’s agricultural sector.

7. Kwara State: Kwara’s major projects include a $75 million textile plantation and a $100 million livestock processing facility. The state’s commissioner highlighted its robust security measures, dynamic labor force, and proximity to international markets through the Benin Republic.

8. Imo State: Imo’s investments include the $350 million Orashi Development Dredging and Port Project, a 100,000-barrel-per-day crude oil refinery, and a $300 million agro and oil & gas fertilizer project. These projects aim to boost Imo’s role in maritime activities, energy production, and agriculture.

The U.S.-Nigeria Business and Investment Roundtable provided a comprehensive overview of the investment opportunities in Nigeria’s states, focusing on agriculture, infrastructure, energy, and mining. The event underscored the critical role of U.S.-Nigeria partnerships in driving economic growth, with attendees encouraged to explore the diverse opportunities across the country. Through continued collaboration, both nations aim to achieve mutual economic prosperity and development.