Afreximbank has expressed strong support for Investopedia, a new digital investment platform launched by the Nigerian Governors’ Forum (NGF) to attract funding and bridge the country’s significant infrastructure gap.
Speaking at the platform’s unveiling, Peter Olowononi, Director of Client Relations for Anglophone West Africa at Afreximbank, described Investopedia as a strategic tool designed to link Nigeria’s 36 states with both African and global investors.
He reiterated Afreximbank’s commitment to subnational development through initiatives like the African Sub-Sovereign Governments Network (AfSNET), which has already facilitated trade and investment deals exceeding $2 billion.
“Development must be decentralised,” Olowononi stated. “It should begin at the local level—cities, states, and regions—and scale outward to drive national and continental growth.”
During the launch in Abuja, NGF officials explained that Investopedia was introduced in response to Nigeria’s relatively low foreign direct investment (FDI), which averages just $2 billion annually—less than 0.5% of the national GDP.
NGF Director-General Abdulateef Shittu noted that Nigeria faces an annual infrastructure financing gap of $100 billion, totaling nearly $1 trillion over the next 10 years.
He described Investopedia as a significant step forward in enhancing investment readiness at the state level, adding, “While states have collectively budgeted over ₦17.5 trillion for capital projects in 2025, persistent funding limitations and fragmented investor access points have hindered large-scale private sector participation.”
