Akinwumi Adesina, the president of the African Development Bank (AfDB), announced that Nigeria has obtained $7.6 billion in investment pledges at the 2024 Africa Investment Forum in Morocco. 

In a post on his X account on Saturday, Adesina conveyed his enthusiasm regarding the investment commitments made to Nigeria and praised the significant involvement of various Nigerian state governors at the forum.

“I am delighted the Africa Investment Forum 2024 mobilised $7.6bn of investment interest for Nigeria,” the post reads.

“It was great to have several State Governors: Lagos, Kaduna, Kastina, Kwara and Plateau, and (later) Ogun. We will keep working to support & boost investments to Nigeria.”

On December 6, 2024, the Africa Investment Forum reported a remarkable total of $29.2 billion in new investor interest.

Adesina, who serves as the chair of the forum, characterized this accomplishment as “truly outstanding.”

He emphasized that this amount may rise further, as discussions and negotiations for additional investments are ongoing beyond the 37 deals that have already been finalized.

Adesina also shared that the 2024 Africa Investment Forum market days attracted 2,300 investors and delegates from 83 countries, marking a 60 percent increase from the previous year.

“The waves of the Africa Investment Forum are cascading investment ripples from Africa to all parts of the world…I am proud that we have achieved for Africa,” Adesina said.

“Across 41 investment boardrooms, investors and project developers gathered to review, discuss and engage on 37 investment projects. The projects varied from transport, power, energy, agribusiness, industry, mining, pharmaceuticals, private equity, tourism, urban infrastructure, water management and water and sanitation.”

The president of the AfDB also revealed that the forum has obtained commitments from 15 new sponsors, which include banks, insurance companies, and export credit agencies, for its future editions.