By Jemimah Wellington, JKNewsMedia Correspondent
PLANS TO raise more than $500m in foreign direct investment into Nigeria have been outlined by the board and management of the World International Economic Group Nigeria (WIEGN).
JKNewsMedia.com reports that Bassey Essien, a member of the group, disclosed this on Friday while addressing a press conference ahead of a two-day summit scheduled for February 25 to 26 at Four Points by Sheraton, Lagos.
Essien said the interface and discussion sessions, tagged Nigeria’s Next Frontier Unlocking Sustainable Investments for Economic Transformation, would help businesses harness opportunities and strategically utilise, capitalise and maximise available resources and market trends for growth.
He said the summit, which is expected to become a regular feature, is aimed at unlocking investment opportunities and supporting enterprises.
While noting that many small business operators still face difficulties including lack of access to finance and knowledge gaps in investment readiness despite ongoing policies, he said the group hopes to drive economic transformation by connecting policy, private capital and investment ready enterprises.
According to him, more than 20 investors are expected from Malaysia alone, alongside participants from Angola and South Africa, with over 500 participants, more than 50 exhibitors and over 70 speakers billed to attend.
President of the World International Economic Group, Muhammed Fathulah, will lead the Malaysian delegation, which Essien said grosses over $1bn annually in bilateral trade in Nigeria.
“This is a purely private sector driven initiative with key national and regional priorities. The summit is going to be properly curated, an event designed to deliver practical results with SMEs across different sectors participating.
One of the sectors we are looking at is the creative sector, which contributes 2.5 percent to the GDP. It’s going to be multisectoral.
JKNewsMedia.com reports the key sectors of interest include aviation, creative industry, agriculture, finance, energy industry, infrastructure, to mention just a few,” he said.
“The WIEG Investment Summit 2026 will bring together global investors, policymakers, and business leaders to unlock sustainable economic growth and bankable opportunities in Nigeria,” he added.
He said there is already a commitment to raise more than $500m capital from investors, with dozens of memoranda of understanding and public private partnership frameworks to be launched, describing the summit as presenting visibility, policy influence and commercial opportunity.
