The Federal Government has assured foreign investors that Nigeria is ready to attract and accommodate substantial foreign investment across critical sectors of the economy.
This is hinged on the ongoing economic reforms under President Bola Tinubu’s administration that have created the right environment for profitable investments.
A statement from the Ministry of Budget and Economic Planning said the assurance was given in Abuja by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, during a courtesy visit by a delegation from Austria as part of consultative engagements under the Nigeria-Austria Development Cooperation initiative.
Speaking during the visit, Bagudu said recent reforms have repositioned Nigeria’s economy to become more attractive to both domestic and international investors, noting that a number of efforts have been undertaken over the past two years to restore and stimulate confidence in the system.
“President Tinubu has put the economy in a position where it can attract domestic and foreign investment,” the minister told the visiting delegation, led by Dr. Kollik Michael, Founder and Managing Director of Prosper Africa.
According to him, Nigeria is already witnessing encouraging signals from global financial watchdogs and rating agencies, which reflect the positive response to ongoing fiscal and structural adjustments initiated by the administration.
He said the government is committed to continuing with its economic transformation strategy and will ensure that private sector voices are integrated into policy planning. “We are determined to ensure that we listen to the private sector, or rather, people with experience such as yours, so that we can do better,” Bagudu stated.
He also spoke about the strategic role of the Ministry of Budget and Economic Planning in coordinating national development planning and managing bilateral and multilateral engagements. He said all three tiers of government—federal, state, and local—have the institutional capacity to mobilize and manage investments, particularly in areas such as agriculture, renewable energy, infrastructure, and climate-related financing.
“Our ministry coordinates the efforts to develop investment-grade proposals that can meet investors’ requirements,” the minister said, adding that the current framework allows for seamless partnership-building to enhance national development outcomes.
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The Austrian delegation’s visit marks a key milestone in the broader effort to deepen diplomatic and economic collaboration between Nigeria and Austria. The engagement, facilitated by the Ministry of Budget and Economic Planning, is designed to open new avenues for investment and knowledge-sharing under the Nigeria-Austria Development Cooperation platform.
The statement noted that the consultative meeting also explored potential financing channels through the Nigerian capital market, including the stock exchange and bond markets—sectors which align with Nigeria’s goal of economic diversification and financial market deepening.
The three-day visit, which commenced on Wednesday and is scheduled to conclude on Friday, involves high-level discussions with ministers and top government officials, focusing on sustainable development, green finance, and migration governance.
The Nigerian side expressed optimism that the outcomes of the visit would further strengthen bilateral ties and lead to joint investment initiatives that support the country’s development priorities.
For Austria, the visit signals growing interest in expanding collaboration with Nigeria on matters of shared global concern, particularly climate change, migration, and sustainable financing—areas where both countries seek stronger cooperation going forward.