Nigeria Sees Investment of More Than $80 Billion Over Five Years

Nigeria expects more than $80 billion in investment in the next five years to spur the West African nation’s industrial development, Trade and Investment Minister Olusegun Aganga said.

China Power International Development Ltd., Siemens AG and General Electric Co. and Brazil’s Centrais Eletricas Brasileiras SA have pledged investments worth “over $50 billion alone” in the country’s power industry, Aganga said in an interview at the World Economic Forum in Davos, Switzerland. Additional funds will be invested by Nigeria’s Dangote Group and automakers including Nissan Motor Co. Ltd., Hyundai Motor Co. and Toyota Motor Corp. that want to set up local assembly plants, he said.

Bloomberg News

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