Federal Government Woos Private Investors to Bridge Financing Gap for $1 Trillion Economy Goal

The Federal Government has intensified its drive to attract private sector capital to fund Nigeria’s massive infrastructure deficit, declaring that the national target of building a $1 trillion economy by 2030 hinges heavily on the development of critical sectors such as transport, power, and ports.

Speaking at the maiden Nigeria Infrastructure Conference (INFRACON 2026) in Abuja, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, emphasized that public resources alone are insufficient to meet the country’s development needs. She affirmed that the government is fully committed to establishing a stable regulatory environment to unlock long-term private capital.

Oduwole noted that modern infrastructure must be treated as a key driver of industrial competitiveness rather than just a collection of physical projects. She stated that to achieve the ambitious $1 trillion economy envisioned by President Bola Tinubu before 2030, Nigeria must significantly increase investment in sustainable infrastructure, as it serves as the economic platform that supports industrialization, stimulates investment, creates jobs, reduces poverty, and secures the nation’s future.

The government’s infrastructure push received strong endorsements from the National Assembly and financial experts at the summit. Representing Senate President Godswill Akpabio, the Chairman of the Senate Committee on Finance, Senator Mohammed Sani Musa, assured investors that the legislature will continue to pass laws designed to ease barriers to infrastructure financing. Similarly, represented by Ahmed Munir, Speaker of the House of Representatives Tajudeen Abbas called for deeper public-private partnerships to accelerate economic diversification.

Additionally, the Chairman of the Ministry of Finance Incorporated and former Minister of National Planning, Dr. Shamsudeen Usman, pointed out that the lack of adequate infrastructure continues to drive up business costs and weaken Nigeria’s global competitiveness. Concluding the event, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Jani Ibrahim, announced that the summit will become an annual fixture to monitor progress, urging stakeholders to transition quickly from policy discussions to active project execution.