By Lucy Ogalue
The African Development Bank’s (AfDB) Nigeria Country Director-General, Lamin Barrow, has highlighted some key projects that Nigeria sought to promote at the just concluded African Investment Forum (AIF).
Barrow, in an interview with the News Agency of Nigeria , said Nigeria had a very strong participation at the 2023 AIF in Marrakesh, Morocco.
He said Nigeria presented not less than six projects on the boardroom for consideration during the meetings.
“These projects range from oil and gas in the pipe line in Nigeria and Morocco.
There is the industrial park project in Kaduna and urban development Project in Abuja.
“We have the cancer hospital to be located in different locations in Nigeria and rehabilitation and refurbishment of five major airports including the Abuja Airport.
“This is in terms of equipment, infrastructure, safety and facilities in these airports presented by the FAAN among others; And they enlisted quite some interest in terms of investment.
“So, Nigeria, we are very happy for the strong participation and the level of interest expressed for these projects.
” he said.
According to Barrow, the Forum provides a transaction oriented platform where sponsors come, present and pitch their deals and prospective financiers and investors are manifested or confirm their interest.
“And then from there, we take it forward in terms of advancing the documentation and discussion to move towards bankability and also to reach financial close.
“So, depending on where each and every project is, there is usually some follow up work to be done.
“So we expect that the engagement will be strengthened and will move fast to be able to complete the feasibility studies or related documentation that needs to be done.
“Due diligence work, prospective financiers will help reach financial close for most of these projects.
And most of them are actually non sovereign or private sector oriented transactions,” he said.
Meanwhile, Dr Akinwunmi Adesina, AfDB’s President, said big ticket deals were considered in food and agriculture and renewable energy and transportation at the AIF.
According to him, other sectors captured at the event are mining, creative industry, ICT, Artificial Intelligence, deep sea seaports, railways, health and special agro industrial processing zones (SAPZs).
Adesina said AfDB was building a formidable power house for investment in Africa through the investment forum which began over five years.
While reiterating some of the projects deliberated upon at the AIF, he said the bank was working at dissuading the ‘japa’ syndrome by youths on the continent.
Earlier, the Director-General of AIF, Miss Chinelo Anohu said the AIF was fully transactional focused at letting Africans know that no one could solve our problems but ourselves.
“We have seen from the words of His majesty King Mohammed VI that Africans must trust Africans to solve their problems ,” she quoted the Moroccan King as saying.
NAN reports that the three-day AIF which began on Nov.
8, ended on Nov.
10 with a renewed hope towards changing the narrative for youths on the continent.
(www.
nannews.
ng)
Ese E.
Eniola Williams
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