The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has launched the maiden edition of the Nigeria Infrastructure Conference (INFRACON 2026), calling for stronger public private partnerships (PPPs), policy reforms and innovative financing to address Nigeria’s estimated $2.3 trillion infrastructure financing gap and support the country’s ambition of becoming a $1 trillion economy by 2030.

The two day conference, held at the Afreximbank African Trade Centre (AATC) in Abuja, brought together ministers, diplomats, development finance institutions, investors, policymakers, industry leaders and private sector operators to identify practical strategies for accelerating infrastructure delivery and mobilising long term investment into critical sectors.

Declaring the conference open, NACCIMA National President, Engr. Jani Ibrahim, said INFRACON was conceived following extensive consultations with businesses across Nigeria, which consistently identified poor infrastructure as one of the greatest impediments to competitiveness, industrialisation and economic growth.

According to him, manufacturers continue to bear the high cost of self generated electricity, exporters struggle with congested ports and logistics bottlenecks, technology firms require reliable broadband infrastructure and world class data centres, while micro, small and medium enterprises (MSMEs) contend with high transportation costs and inadequate digital infrastructure.

He stressed that no nation has achieved industrialisation without sustained investment in infrastructure, adding that Nigeria cannot become globally competitive while businesses continue to provide infrastructure that should ordinarily be supplied through public investment.

“Infrastructure is not merely about roads, bridges and airports. Infrastructure is productivity, competitiveness, investment, jobs, exports and economic growth,” Ibrahim said.

He noted that the Reviewed National Integrated Infrastructure Master Plan (NIIMP 2020–2043) estimates that Nigeria will require over $2.3 trillion in infrastructure investment across transport, energy, housing, water resources, agriculture and ICT over the next two decades.

According to him, government revenues alone are insufficient to finance the country’s infrastructure needs, making it imperative to attract domestic and international private capital, including pension funds, insurance funds, sovereign wealth funds, infrastructure funds, private equity and multilateral finance.

To facilitate this, Ibrahim highlighted the roles of the Infrastructure Corporation of Nigeria (InfraCorp) and InfraCredit, describing both institutions as critical to originating, structuring and de risking bankable infrastructure projects capable of attracting institutional investors.

He said NACCIMA would work closely with the institutions to ensure investment ready projects emerging from INFRACON receive credible financing and implementation support.

Emphasising implementation over rhetoric, Ibrahim declared that the conference was designed as an execution platform rather than another policy dialogue.

“INFRACON is not a talk shop. Success will not be measured by the number of speeches delivered but by the number of projects financed, the amount of private capital mobilised, the jobs created, improvements in logistics, megawatts added to the national grid and improvements in Nigeria’s competitiveness,” he said.

The conference identified electricity, maritime infrastructure and the blue economy, digital infrastructure, industrialisation and export infrastructure as priority sectors capable of delivering the highest economic multiplier effects.

Ibrahim also warned that Nigeria risks falling behind in the global digital economy without substantial investment in electricity, fibre connectivity and modern data centres. Citing International Energy Agency projections, he noted that electricity demand from data centres is expected to more than double by 2030 as artificial intelligence adoption accelerates globally.

He argued that reliable electricity and secure digital infrastructure are no longer simply energy concerns but strategic national economic assets necessary for attracting investment and ensuring data sovereignty.

Also speaking, the Minister of Industry, Trade and Investment said Nigeria must move beyond financing isolated infrastructure projects and instead develop investment ready economic corridors capable of attracting long term private capital and achieving financial closure. He noted that with Nigeria’s infrastructure financing requirement projected at about $2.3 trillion by 2043, the country must shift from financing individual projects to preparing bankable economic corridors that can attract institutional investors and development finance. He added that the ministry would continue to provide policy clarity, regulatory certainty and investment promotion to encourage private capital into strategic sectors.

Participants also presented the Lekki Economic Zone as a successful model of public private collaboration. They described the zone as a deliberately planned industrial ecosystem where government provided land, enabling policies and regulatory certainty, while private investors supplied capital, technology and market access. Projects including the Lekki Deep Seaport, the Lagos Calabar Coastal Highway, industrial parks and the Dangote Refinery and Petrochemical Complex were cited as examples of how strategic infrastructure can catalyse manufacturing, logistics and regional trade. Participants urged state governments to replicate the Lekki model by developing industrial corridors, agro processing hubs and logistics clusters aligned with their comparative advantages.

The conference also focused on digital infrastructure, with participants advocating the expansion of Nigeria’s fibre optic network from approximately 30,000 kilometres to 120,000 kilometres to support broadband penetration, digital innovation and economic competitiveness. Human capital development featured prominently, with speakers emphasising the need for investments in engineering education, technical skills and technology transfer. A proposal was also unveiled for a Russia Nigeria climate exchange programme to facilitate engineering training and knowledge exchange between both countries.

International partners reaffirmed their interest in Nigeria’s infrastructure market. Representatives of the Russian Federation highlighted investments estimated at $1.5 billion in gas and solar energy projects while outlining opportunities for collaboration in healthcare, pharmaceutical manufacturing, agricultural mechanisation, geological exploration and cocoa processing. The Nigerian Ambassador to China also led a delegation of Chinese investors to the conference as part of efforts to deepen bilateral trade and investment relations between the two countries and showcase Nigeria’s infrastructure opportunities. Members of the Chinese business delegation described Nigeria as one of Africa’s most promising investment destinations, citing opportunities in automotive manufacturing, industrial development and digital infrastructure. They also expressed readiness to partner with Nigerian businesses to advance technology transfer, manufacturing and infrastructure development.

The conference also unveiled a financing partnership aimed at unlocking affordable long term capital for infrastructure and industrial projects. Under the framework, prospective beneficiaries will be required to satisfy stringent Know Your Customer (KYC) and Environmental, Social and Governance (ESG) requirements, including disclosure of shareholders, directors, management profiles, gender balance and operational locations. Organisers said eligible projects would have access to loans at single digit interest rates, with pricing determined by the risk profile of each project. The loans would be repaid in the currency of disbursement, leaving borrowers to manage foreign exchange risks.

According to the organisers, the German backed investors have committed to providing patient capital with tenures exceeding seven years, underscoring their confidence in Nigeria’s long term economic prospects. They added that between 30 and 50 per cent of goods and services for funded projects would be sourced from European Union countries through export credit agency arrangements, while the remaining inputs could be procured elsewhere.

To ensure only commercially viable projects receive financing, NACCIMA and its German partners will establish a joint screening committee comprising experts in development finance, engineering, ICT, legal services and marketing to appraise applications submitted through a dedicated online portal. NACCIMA said approved projects would be monitored throughout implementation to ensure effective execution, proper utilisation of funds and timely loan repayment, while a help desk will support applicants when the portal goes live next week.

The conference concluded with a call for stronger legislative frameworks, policy consistency and transparent regulation to mobilise long term private investment, harmonise infrastructure policies across ECOWAS and the African Continental Free Trade Area (AfCFTA), and accelerate the delivery of projects capable of transforming Nigeria’s economy.

Participants agreed that closing Nigeria’s infrastructure gap will require sustained collaboration among government, investors, development finance institutions and the organised private sector, with implementation, not conference resolutions, serving as the true measure of success.