The West African Economic Summit in Abuja has already yielded significant outcomes, with over $400 million worth of investment deals advancing to active discussions, according to the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole.
Speaking on the second day of the summit, Oduwole hailed the success of the “deal room” — a central feature of the event — as evidence of renewed investor confidence and stronger economic coordination across the region.
“Since yesterday, we have tracked over $400 million worth of transactions that are progressing into investor discussions,” she said, describing it as a result of both effective preparation and the renewed momentum behind Nigeria’s investment facilitation strategy.
The minister called the summit a turning point for West Africa, emphasizing that the deal room effectively connected capital to viable projects. One of the most dynamic sessions, she noted, was the oversubscribed Public-Private Partnership and Infrastructure Roundtable, where nearly $1 billion in active transactions were presented.
Projects highlighted included opportunities in carbon capture, compressed natural gas, critical minerals, and digital infrastructure — all focused on achieving bankability.
The deal room drew major international players such as the African Finance Corporation, International Finance Corporation, Afriksen Bank, U.S. Trade and Development Agency, Polish Investment and Trade Agency, and Badia.
Oduwole expressed optimism that the $400 million is only the beginning. “We fully expect more deals to follow in the days and weeks ahead,” she added.
She also announced the launch of the National Export Trading Company, a landmark public-private initiative being developed in partnership with the Nigeria Commodities Exchange, Afriksen Bank, and the Africa Trade and Distribution Company. The initiative is aimed at improving Nigerian commodity exports through better aggregation, warehousing, and traceability, thereby helping farmers and MSMEs reach regional and global markets.
“This is a structural intervention that will change how we trade — efficiently, competitively, and at scale,” she stated.
Highlighting the success of Nigeria’s digital trade positioning under President Bola Tinubu’s administration, Oduwole praised initiatives like the National Talent Export Programme, which has placed over 2,000 young Nigerians in international remote jobs.
“The world is not just watching — it is engaging,” she said. “We are showing up not just as Nigeria but as ambassadors for West Africa.”
Oduwole also credited President Tinubu’s bold economic reforms — including exchange rate liberalization, fuel subsidy removal, and alignment with the African Continental Free Trade Area (AfCFTA) — for the country’s growing investment appeal.
“These tough decisions are beginning to yield real outcomes,” she concluded.
ADEOLA KUNLE
