Global Infrastructure Magnate Ogunlesi Sets Sights on Nigerian Investment Opportunities
Nigerian-born billionaire Adebayo Ogunlesi, renowned for his acquisition of London Gatwick Airport, has announced plans to make substantial investments in three key sectors of Nigeria’s economy: aviation, energy, and ports.
During a recent meeting with President Bola Tinubu at his Lagos residence, Ogunlesi, Chairman of Global Infrastructure Partners (GIP), expressed strong optimism about Nigeria’s economic trajectory and ongoing reforms. The infrastructure investor, who recently sold GIP to BlackRock for $12.5 billion, sees tremendous potential in Africa’s largest economy.
“We had an excellent meeting where we discussed strategies to put Nigeria front and centre for global investment,” Ogunlesi stated after the closed-door session. “The President was very encouraging, and we exchanged valuable ideas on driving economic growth.”
Strategic Investment Focus
Ogunlesi identified several priority sectors for investment, with particular emphasis on Nigeria’s abundant gas reserves, which he described as “a sleeping giant waiting to power the nation’s industrial growth.” His interest extends to aviation infrastructure development and port facilities, noting that while his company operates ports in neighboring Cotonou and Lomé, they have yet to establish a presence in Nigeria.
This admission prompted a lighthearted exchange with President Tinubu, with Ogunlesi recounting, “He forgave me, but said, ‘You must bring port investment to Nigeria.'”
Support for Economic Reforms
The billionaire investor, who was recently appointed to the OpenAI Board, praised the government’s economic reform initiatives, including the removal of fuel subsidies, tax reforms, and efforts to revitalize national refineries. “Watch this space,” he remarked. “Nigeria may not yet be the most exciting investment destination, but that’s what we’re working on.”
International investor Hakeem Bello-Osagie, who attended the meeting, emphasized the significance of diaspora-led investment, stating, “When Nigerians at home and abroad invest in the country, it sends a powerful message to the global community.”
Future Implications
Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), reinforced the government’s commitment to reform, noting that the groundwork for an export-led economy is being laid. “We have done the fundamentals,” Adedeji said. “Now it is time to deliver growth.”
Ogunlesi’s planned investment in Nigeria represents more than just business expansion; it signals growing confidence in the country’s economic potential and could catalyze further international investment in Nigerian infrastructure development.
