14 Nigerian states seek $15 billion investment from UAE

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F14 Nigerian states are seeking foreign direct investment of up to $15 billion from companies and organizations in the United Arab Emirates (UAE) and will present their proposals to investors at the upcoming 11th Annual Investment Meeting (AIM) in Dubai.

The AIM meeting is hosted by the UAE Ministry of Economy and is scheduled for March 29-31.

“The gathering will provide delegates from all 14 Nigerian states with ideal opportunities and channels to share and promote investment opportunities in their respective states,” said Abdullateef Shittu, Executive Director in charge of Strategy at the Governors Forum Secretariat. Nigeria (NGF) in Abuja. .

The NGF, an association of the 36 Nigerian Governors, worked with the UAE Embassy in Nigeria to facilitate participation in the Nigerian States Forum.

Mr. Shittu said delegations from participating states will promote Nigeria as an attractive destination for investment and trade, showcase existing investment opportunities and provide leads that can be converted into investments.

Details obtained by PREMIUM TIMES listed the states that will be courting investors at the forum, including Abia, Akwa Ibom, Bauchi, Bayelsa, Cross River, Edo and Ekiti, Enugu, Kwara, Niger, Ondo, Plateau, Sokoto and Yobe.

Key Projects for Potential UAE Investors

Ddelegates from the aforementioned participating states, some to be led by their governors, will convince potential UAE investors to invest in key, capital-intensive projects across all sectors – infrastructure development, manufacturing, agriculture, energy , technology, transport and logistics, tourism and hospitality, education and finance.

For example, Abia State will seek $1 billion (416.25 billion naira at the current official dollar-naira market exchange rate) for the development of Enyimba Economic Town ($288 million). , the Leather and Garment City Project ($300 million) and the Abia State Special Agro. – processing zone development project (450 million dollars).

Similarly, Akwa Ibom will try to convince potential investors present at the meeting to contribute a total of $2.6 billion to Ibom Deep Sea Port, Ibom Industrial City Project, Ibom Science Park Ibom and the industrial city, agro-industry and infrastructure construction of piers in the state.

Bauchi, Bayelsa, Cross River, Edo, Ekiti and Enugu states will seek $88 million, $2.3 billion, $3.5 billion, $1.1 billion, $104.5 million and $160 million for maritime projects, agriculture and infrastructure development in the states.

Similarly, the state governments of Kwara, Niger, Ondo, Plateau, Sokoto and Yobe will tell potential investors to consider bringing in $97 million, $184 million, $2.5 billion, respectively. $33 million, $388 million, and $910 million to implement projects in the agriculture, hospitality, infrastructure, and mining sectors in their respective states.

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Potential UAE Investors

AAt least 74 potential investors from the UAE have signaled their intention to engage with delegations from Nigeria’s 14 states, NGF’s Mr. Shittu said.

These include the Abu Dhabi Fund for Development, African development bankNational Marine Dredging Company, Islamic Development Bank, Al Ain Farms, Strata manufacturing, TVM Capital Healthcare, Amea Power, MENA Infrastructure, Dubai Investments, Investment Corporation of Dubai, Mubadala, Gazprom Bank, Jumeirah Group, Kotak Mahindra Asset Management Group, the Fonds Saudi Arabia for Development, VTB Capital, MENA Tech Fund, among others.

Organizers say delegates from Nigerian states would have time to make presentations to investors.

Arrangements have also been made for delegations to hold pre-arranged meetings with officials from the UAE Ministry of Economy, members of AIM’s Investor Platform as well as participants in the country’s Global Investor Program Arab.

This, the organizers said, will provide participating states with “the ideal stage and opportunities to strengthen and enhance their country’s national brand within the global community and among relevant potential investment partners, and the international investor community.” “.


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