Bayo Ogunlesi: Nigeria Now An Exciting Place To Invest

Bayo Ogunlesi, chairman of Global Infrastructure Partners (GIP), says his company is preparing to expand investments in Nigeria, describing the country as “an exciting place to invest.”

Ogunlesi spoke with State House correspondents after a closed-door meeting with President Bola Tinubu in Abuja.

“We’re making investments in Nigeria. We explored additional opportunities. I’m not going to tell you what they are yet — just wait and watch this space,” he said. “Nigeria is now a place that is exciting to invest in, and that’s what we discussed with Mr. President. As expected, he was very encouraging of international investment.”

According to Ogunlesi, his discussions with President Tinubu focused on the far-reaching reforms carried out in the past two years, which he said have repositioned Nigeria as a viable investment destination.

“Think about it — removal of fuel subsidy, tax reform, a refinery that is now operating and exporting aviation fuel, unification of the road ownership system. The next step is how to attract international investment that will drive economic growth,” he said.

The billionaire investor said GIP intends to deepen its portfolio in Nigeria across sectors where it already has global experience.

“We invest in energy — building LNG plants in Texas and Australia. Nigeria is a huge gas province. People describe me as the guy who bought Gatwick Airport, though I didn’t personally buy it,” he noted.

Ogunlesi also hinted at interest in Nigeria’s aviation and maritime sectors, admitting that one of GIP’s companies currently operates ports in Cotonou and Lomé, but none in Nigeria.

“I asked Mr. President for forgiveness on that. Being the gentleman that he is, he forgave me but insisted that we must now bring port investment to Nigeria,” he said.

He added that renewable energy is another area GIP is eager to explore, noting that Nigeria presents “lots of opportunities for those who are serious about making the right moves.”

Also at the meeting, Hakeem Bello-Osagie, chairman of Metis Capital, said investments by Nigerians at home and abroad help to build international confidence in the country’s economy.

“We thank President Tinubu for his policies. They have made Nigeria investable,” he said. “We assure both the President and Nigerians that we will do our very best to contribute to a fast-growing Nigeria that achieves its objectives.”