FULL LIST: 65 Nigerian projects seeking $78.5bn in investment

MaTaZ ArIsInG
Dallas, Texas

President Bola Tinubu has unveiled 65 investment projects requiring $78.5bn in funding across five sectors of Nigeria’s economy, with the proposed investments projected to generate 366,763 jobs.

The breakdown of the projects listed on the Federal Government’s Projects Nigeria investment portal shows that the oil, gas and power sector accounts for 25 projects requiring $36.4bn, while transport and maritime has eight projects with a combined capital requirement of $25bn.

Agriculture and agro-processing accounts for six projects requiring $9.8bn, while industry, manufacturing and mining has 17 projects requiring $6.6bn.

The remaining nine projects fall under technology, health and urban services, with an estimated capital requirement of about $700m, all these were obtained in an independent check by our correspondent to the Project Nigeria website as cited by Tinubu in the Friday post on X.

There, he noted, “I invite Nigerian and international investors to examine these projects and engage directly with their sponsors through Projects Nigeria.

“Our administration will work with you to resolve obstacles and move viable investments into execution, creating jobs and expanding opportunities for our people.”

The largest project in the oil, gas and power sector is the Ondo Modular Refinery, requiring $15bn, while Strategic Deep Sea Ports leads the transport and maritime category at $11.5bn.

In agriculture and agro-processing, the One Million Hectare Tree Crops project has the highest funding requirement at $6.14bn.

New Port City, estimated to require $1.6bn, is the largest project in industry, manufacturing and mining, while the PELIA Flare-Gas AI Data Centre, requiring $355.6m, is the largest listed under technology, health and urban services.

17 of the 65 projects

Overall, 17 of the 65 projects require more than $1bn, accounting for approximately $72.3bn, or more than 90 per cent of the total investment sought.

From the check, our correspondent reports that on the portal, the projects feature different financing structures, including public-private partnerships, project finance, equity and debt, and climate finance.

The portal also identifies sponsors, including federal agencies, state governments through the Nigeria Governors’ Forum, private-sector entities and the Nigeria Sovereign Investment Authority.

Some project profiles also provide investment assessment metrics, including internal rate of return, multiple on invested capital, debt service coverage ratio, net present value and payback period.

Six geographical zones

Our correspondent also reports that the 65 projects are distributed across Nigeria’s six geopolitical zones, with seven in the North Central, five in the North East, seven in the North West, six in the South East, 17 in the South South and 11 in the South West.

Four additional projects span multiple geopolitical zones, while the remaining eight are classified as nationwide, multi-state or unspecified in scope, including initiatives involving government agencies and parastatals, as well as private-sector firms.

Here is the complete list of all projects listed under this sector on the platform:

Oil, Gas and Power — 25 projects

1. Ondo Modular Refinery (Ilaje, Ondo State) — US$15.00bn
2. Ace 3 MTPA Floating LNG (Escravos, Delta State) — US$5.50bn
3. NPK and Urea Import Substitution (Ondo, Akwa Ibom and Bayelsa states) — US$4.69bn
4. IESL LNG Project (Akwa Ibom State) — US$3.00bn
5. MIPL Ammonia and Phosphate Project (Ikot Abasi, Akwa Ibom State) — US$2.69bn
6. Project Reliaxx (Crude evacuation and midstream, Rivers and Delta states) — US$1.70bn
7. UTM Floating LNG (Warri South, Delta State) — US$1.50bn
8. Edo Condensate Refinery (Ikpoba-Okha, Edo State) — US$345.0m
9. Global Gas Cawthorne Channel Plant (Rivers State) — US$300.0mMake
10. Quaint Power and Infrastructure (Plateau State) — US$300.0m
11. MMELT Diebu Creek Gas Project (Bayelsa State) — US$271.4m
12. Fradro Trunk A Gas Pipeline (Edo, Delta, Anambra and Enugu states) — US$224.1m
13. First Metro 200 MW Power Plant (Lagos State) — US$218.8m
14. Ebonyi 100 MW Gas Power Plant (Oferekpe, Ikwo, Ebonyi State) — US$153.0m
15. Oyo Gas Distribution Network (Oyo State) — US$100.0m
16. Valiant 500 TPD LNG Plant (Ore, Ondo State) — US$85.1m
17. Ibom Power Company (Ikot Abasi, Akwa Ibom State) — US$71.0m
18. VTT LNG (Gelegele Gbene, Edo State) — US$60.1m
19. Elebele Power Plant (Ogbia, Bayelsa State) — US$58.0m
20. Imo CNG Virtual Pipeline (Ngor-Okpala, Imo State) — US$50.0m
21. NUPRC Upstream Renewable Power (Rivers, Bayelsa, Delta and Akwa Ibom states) — US$30.0m
22. LNG Arete Mini-LNG (Ajaokuta, Kogi State) — US$27.3m
23. Amari CNG Stations (Aba, Abia State) — US$19.8m
24. Taraba Hydropower Project (Taraba State) — US$5.0m
25. Sokoto 33 kV Feeder Rehabilitation (Sokoto State) — US$1.0m

Transport and Maritime — 8 projects

26. Strategic Deep Sea Ports (Badagry, Ibom, Ondo, Agge and Bakassi) — US$11.5bn
27. National Inland Waterways — US$10.0bn
28. Lagos Greenline Railway — US$1.29bn
29. Anambra Intra-City Rail — US$1.40bn
30. Traxport Lagos–Kano Rail Cargo — US$155.5m
31. Calabar–Obudu Railway — US$300.0m
32. Enugu Light Rail — US$350.0m
33. Ogun Rail Extension — US$50.0m

Industry, Manufacturing and Mining — 17 projects

34. New Port City (Eleme, Rivers State) — US$1.60bn
35. Katsina Green Economic Zone — US$1.00bn
36. Zamfara Solid Minerals Pre-Export Finance — US$1.00bn
37. PSML Integrated Steel Upgrade (Delta State) — US$1.255bn
38. Harmony Glass (Ondo State) — US$240.6m
39. Solarge 1 GW Solar Module Plant (Calabar) — US$54.6m
40. Mbatiav Cement Factory (Benue State) — US$450.7m
41. Aba Metallurgical Complex — US$23.0m
42. Adamawa Free Trade Zone — US$6.5m
43. Njimtilo Industrial Estate (Borno State) — US$11.1m
44. Gombe Industrial Park — US$131.0m
45. Gagarawa Industrial Park (Jigawa State) — US$6.5m
46. China Africa Industrial Economic City (Kano State) — US$250.0m
47. Kebbi Free Trade Zone — US$2.6m
48. Ajaokuta Special Economic Zone — US$500.0m
49. Yobe Cement Company — US$3.3m
50. Pharmaceuticals Excipients — US$70.0m

Agriculture and Agro-Processing — 6 projects

51. One Million Hectare Tree Crops (Nationwide) — US$6.14bn
52. Fish City Seafood Export Hub — US$3.0bn
53. DEPA Programme (21 states) — US$480.0m
54. Giri Agro-Processing Hub (FCT) — US$105.0m
55. Promakar Sorghum Expansion (Ogun State) — US$7.5m
56. Kaduna Green Economic and Agro-Industrial Zone — US$80.0m

Technology, Health and Urban Services — 9 projects

57. PELIA Flare-Gas AI Data Centre (Delta State) — US$355.6m
58. Lagos Solid Waste Concession — US$82.8m
59. Access Bank Affordable Housing — US$74.6m
60. NUPRC Leak Detection Service — US$40.0m
61. Ekiti Knowledge Zone — US$80.0m
62. Kwara Innovation Hub — US$3.9m
63. Lagos Smart Health Information Platform — US$2.8m
64. Nasarawa Technology Hub — US$5.0m
65. NUPRC Crude Fingerprinting Centre — US$20.0m

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