…unveils 17 investment programmes

From Joseph Chibueze, Abuja

Nigeria is exploring the potential to mobilise more than $500 billion through blue bonds to finance eligible maritime, inland waterways and other blue economy projects, as the Federal Government steps up efforts to attract private capital and international development financing towards its target of building a $1 trillion economy by 2030.

The financing prospect emerged at an Investment Partnership Lab convened by the Federal Ministry of Budget and Economic Planning, in collaboration with the European Union Delegation to Nigeria and ECOWAS, on the sidelines of the 32nd Nigerian Economic Summit in Abuja.

The disclosure comes as the government seeks alternatives to limited budgetary resources, with 17 indicative investment programmes presented to connect productive sectors with transport infrastructure and financing opportunities. The proposed blue bond financing, however, remains a potential funding opportunity, not money already raised or secured by Nigeria.

The initiative comes as the Federal Government acknowledges that limited budgetary resources cannot independently finance the infrastructure and productive-sector investments required to achieve its economic growth ambitions.

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said Nigeria must mobilise additional capital through grants, technical assistance, development cooperation and private investment to complement public expenditure.

Speaking at the Lab, organised by the Ministry in collaboration with the European Union Delegation to Nigeria and ECOWAS, Bagudu said achieving the $1 trillion economic target would require coordinated investments capable of expanding productive capacity, generating employment and improving living standards.

He stressed that the focus must extend beyond identifying projects to establishing viable investment opportunities that can attract financing and deliver measurable economic and social benefits.

The Lab, facilitated by Particip GmbH, brought together government institutions, development finance institutions, state governments, private-sector operators and development partners to explore innovative financing for integrated transport and trade infrastructure.

It showcased 17 indicative integrated investment programmes designed to connect productive-sector opportunities with transport infrastructure and financing arrangements.

A central feature was the proposed Sealink Project, which seeks to integrate inland waterways, coastal shipping, river ports, roads, railways and logistics facilities into a more connected transport network.

Participants identified inland waterways as a potentially cost-efficient alternative for transporting bulk cargo, reducing pressure on highways and extending the useful lifespan of road and rail infrastructure.

However, they stressed that investments in the sector would require hydrographic surveys, navigability assessments, maritime security, reliable cargo demand and commercially viable operating arrangements.

The discussions also highlighted the need for stronger coordination between federal and state governments to prevent project duplication, improve resource allocation and ensure that infrastructure investments complement productive activities across state boundaries.

Bagudu said Nigeria could not rely on annual budgetary allocations alone to finance its development priorities, identifying the European Union’s Global Gateway Investment Strategy as an important platform for attracting European technology, expertise and capital.

He also highlighted the Federal Government’s Ward Development Strategy, supported by a nationwide ward-level survey, as a mechanism for identifying community needs and aligning public expenditure and development-partner interventions with local priorities.

Under the approach, investments are expected to respond more directly to identified gaps in communities, ensuring that economic expansion translates into improved livelihoods.

The blue economy discussions featured opportunities under the EU-supported Regional Trade and Transport/Abidjan-Lagos-Ouagadougou Corridor (CALAO), the West Africa Sustainable Oceans Programme (WASOP) and the BBA+ initiative.

The BBA+ presentation identified 10 blue economy programme areas, seven of which were preliminarily assessed as potentially suitable for blue financing.

The proposed financing could support qualifying maritime transport, inland waterways, fisheries, coastal protection and renewable energy projects.

Participants emphasised the importance of preparing bankable projects and establishing suitable financing structures to attract investors and advance eligible investments.

Beyond infrastructure, the Lab examined opportunities to expand investment in African businesses through the European Investment Bank-backed Boost Africa initiative.

Representatives of the EIB, TLcom Capital and beneficiary businesses, including Beacon Power Services and ChipMango, discussed how venture capital and technical assistance could strengthen entrepreneurship, innovation and enterprise development.

The session also highlighted Boost Ventures, with announced plans for €129 million in investment financing and €40 million in technical assistance.

The initiative reflects the role of development finance institutions in supporting businesses that can expand productive capacity, create jobs and contribute to economic diversification.

To move the discussions towards implementation, participants identified a series of follow-up actions, including technical engagements with the Nigerian Export-Import Bank (NEXIM), the National Inland Waterways Authority (NIWA), the Nigerian Navy and other relevant institutions on the Sealink Project.

The engagements are expected to address navigability, maritime security, cargo demand, infrastructure requirements and commercially sustainable transport corridors.

Participants also called for the consolidation of priority infrastructure and blue economy projects into investment pipelines for engagement with the EU, EIB, other development finance institutions and private investors.

State governments are expected to be engaged, particularly through the forthcoming Joint Planning Board, on inland waterways investments, counterpart contributions and related development opportunities.

A further priority is a high-level engagement involving relevant fiscal, regulatory and financial institutions and the BBA+ to advance green and blue bond preparations.

The identified actions, expressions of interest and institutional responsibilities are to be consolidated into a coordinated 90-day Partnership Action Matrix.

In his closing remarks, the Director of International Cooperation, Dr. Sampson Ebimaro, stressed the need to sustain the momentum through continued engagement, stronger institutional collaboration and practical investment partnerships.

The Lab placed renewed emphasis on converting investment proposals into bankable projects, attracting financing and establishing clear responsibilities for implementation.