Nigeria inks billions in Indian infrastructure deal
ECONOMY & POLICY

Nigeria inks billions in Indian infrastructure deal

Nigeria has recently sealed a substantial deal with Invest India, an Indian investment agency, to bolster infrastructure initiatives encompassing power, railways, warehousing, and ports within the country. This agreement, signed on September 6, is anticipated to catalyse industrialisation in Nigeria's agriculture and manufacturing sectors, ultimately reducing the nation's reliance on imports. 

Lazarus Angbazo, the CEO of the Infrastructure Corporation of Nigeria Limited (InfraCorp), stated that the primary aim is to enhance the productivity of Nigeria's agricultural sector by ushering in industrialisation. Agriculture currently constitutes approximately 40% of Nigeria's economy. 

This deal marks another step in a series of collaborations between the two nations as Nigeria, with a population exceeding 200 million, seeks to address its infrastructure deficit and stimulate economic growth, requiring an estimated $3 trillion investment over 30 years. InfraCorp, a government-backed infrastructure investment entity, is co-owned by the Central Bank of Nigeria, Africa Finance Corporation (AFC), and Nigeria Sovereign Investment Authority, focusing primarily on transport and logistics, with an initial investment potential of up to N163 billion ($212 million). 

The partnership aims to expand Nigeria's ports to significantly increase container processing capacity, a crucial step for a nation of its size. However, specific financial details of the deal have not been disclosed.
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Nigeria has recently sealed a substantial deal with Invest India, an Indian investment agency, to bolster infrastructure initiatives encompassing power, railways, warehousing, and ports within the country. This agreement, signed on September 6, is anticipated to catalyse industrialisation in Nigeria's agriculture and manufacturing sectors, ultimately reducing the nation's reliance on imports. Lazarus Angbazo, the CEO of the Infrastructure Corporation of Nigeria Limited (InfraCorp), stated that the primary aim is to enhance the productivity of Nigeria's agricultural sector by ushering in industrialisation. Agriculture currently constitutes approximately 40% of Nigeria's economy. This deal marks another step in a series of collaborations between the two nations as Nigeria, with a population exceeding 200 million, seeks to address its infrastructure deficit and stimulate economic growth, requiring an estimated $3 trillion investment over 30 years. InfraCorp, a government-backed infrastructure investment entity, is co-owned by the Central Bank of Nigeria, Africa Finance Corporation (AFC), and Nigeria Sovereign Investment Authority, focusing primarily on transport and logistics, with an initial investment potential of up to N163 billion ($212 million). The partnership aims to expand Nigeria's ports to significantly increase container processing capacity, a crucial step for a nation of its size. However, specific financial details of the deal have not been disclosed.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000