Summit Eyes $500m Investment Boost For Nigeria

According to Ireporter Online, the World International Economic Group (WIEG) Nigeria has announced plans to mobilise over $500 million in foreign direct investment as part of efforts aimed at driving economic growth and transformation in the country.

The disclosure was made on Friday by Bassey Essien, a member of WIEG, during a press briefing held ahead of the group’s two-day investment summit scheduled for February 25 and 26 at the Four Points by Sheraton Hotel in Lagos.

Speaking on the objective of the summit themed “Nigeria’s Next Frontier: Unlocking Sustainable Investments for Economic Transformation,” Essien described the initiative as a strategic platform designed to help businesses identify, harness and maximise emerging opportunities across key sectors of the economy. He noted that the summit is expected to become a recurring forum focused on aligning capital, market trends and enterprise growth.

Essien acknowledged that despite existing economic policies, many small and medium-scale enterprises continue to struggle with challenges such as limited access to financing and gaps in investment readiness. He, however, expressed optimism that WIEG intends to bridge these gaps by fostering stronger connections between policymakers, private capital and viable business ventures.

He revealed that the summit is expected to attract more than 20 investors from Malaysia, alongside participants from Angola, South Africa and other countries. Over 500 participants, more than 50 exhibitors and at least 70 speakers are also billed to attend the event.

The President of the World International Economic Group, Muhammed Fathulah, is expected to lead the Malaysian delegation. He disclosed that Malaysia’s bilateral trade with Nigeria currently exceeds $1 billion annually, underscoring the growing economic ties between both countries.

Fathulah described the summit as a private sector-led initiative aligned with national and regional development priorities, stressing that it has been carefully structured to deliver tangible outcomes for businesses, particularly small and medium enterprises across multiple industries.

He identified priority sectors for investment to include aviation, the creative industry, agriculture, finance, energy, and infrastructure, among others. According to him, the creative sector alone contributes about 2.5 per cent to Nigeria’s Gross Domestic Product, making it a critical area of focus.

Fathulah further stated that the WIEG Investment Summit 2026 would convene global investors, policymakers and business leaders with the aim of unlocking sustainable growth and bankable opportunities in Nigeria. He added that commitments have already been secured to raise over $500 million in capital, alongside the signing of several memoranda of understanding and public-private partnership frameworks during the summit.