Nigeria’s governors have unveiled a compendium of state-level investment opportunities to address the country’s persistently low foreign direct investment (FDI) inflows.

The initiative, called NGF Investopedia, was launched in Abuja by the Nigeria Governors’ Forum (NGF). Speaking at the event, NGF Chairman and Kwara State Governor, AbdulRahman AbdulRazaq represented by Nasarawa State Governor Abdullahi Sule said Nigeria’s FDI inflows have averaged just $2 billion annually over the past decade, accounting for less than 0.5 per cent of GDP.

AbdulRazaq noted that while most inflows have gone into oil, gas, telecommunications, real estate, and agriculture, state-level opportunities remain largely underexplored. He stressed the need for both global and intra-African capital to help close Nigeria’s $100 billion annual infrastructure financing gap.

“At the same time, African Direct Investment (ADI) from South Africa, Morocco, Egypt, and Ghana is expanding into banking, fintech, agribusiness, and infrastructure. This signals growing confidence among African partners,” he said. “With the NGF Investopedia, we are sending a clear signal: Nigeria’s subnationals are open, credible, and investment-ready.”

The NGF Chair disclosed that the initiative is backed by Afreximbank, the UNDP, and the Ministry of Finance Incorporated (MOFI), which will provide financial instruments, institutional support, and risk-mitigation frameworks to make state projects bankable.

Governor Sule also highlighted untapped opportunities in oil, gas, mining, and agriculture, citing Nasarawa’s lithium processing plants one already Nigeria’s largest and another set to become Africa’s biggest as an example of how policy reforms can attract major investments.

“In Nasarawa, we made it law that anyone mining must also process in the state. That has drawn in large-scale investments and jobs,” Sule said, urging investors to take advantage of reforms under President Bola Tinubu, which he said have put more resources in the hands of federal, state, and local governments.

NGF Director-General Abdulateef Shittu added that Investopedia will serve as a one-stop gateway for credible opportunities, simplifying access and boosting investor confidence through due diligence and transparency.

“We are no longer just discussing potential, but presenting bankable pathways for global, African, and domestic capital to flow into our states,” Shittu said.