Nigeria has approved $4.29 billion worth of new port and power infrastructure projects, signaling a renewed push to attract private capital into critical sectors after years of underinvestment. The approvals were granted under public private partnership arrangements, with government officials saying the projects are expected to ease logistics bottlenecks and strengthen electricity supply. The development was reported by Reuters, citing Nigeria’s Infrastructure Concession Regulatory Commission.
The projects span port expansions and power generation facilities aimed at supporting trade, manufacturing and economic growth. Authorities said the approvals reflect improving investor sentiment following recent policy reforms to stabilise the foreign exchange market and enhance contract enforcement. Bloomberg reported that several of the projects had been stalled for years but gained momentum as macroeconomic conditions began to stabilise.
Port congestion and unreliable power supply have long weighed on Nigeria’s business environment, pushing up costs for exporters and manufacturers. Data referenced by CNBC Africa show that inefficiencies at major ports continue to delay cargo clearance, while electricity shortfalls remain a key constraint on industrial output. Analysts quoted by the outlet noted that unlocking private capital is critical to closing Nigeria’s infrastructure gap.
Market watchers caution that execution will be closely scrutinized, as previous approvals have struggled to reach financial close. Still, economists cited by Reuters said successful delivery could mark a turning point, strengthening Nigeria’s appeal to long term infrastructure investors across Africa.
