Barring any changes, the first Abuja Infrastructure Investment Summit/Expo is scheduled to hold in the last quarter of this year.
With the approval by the Minister of the Federal Capital Territory (FCT), Barrister Nyesom Wike, the expo is expected to attract investors to showcase bankable projects.
Determined to ensure the success of the expo, Wike urged the Diaspora to come and invest in various infrastructure opportunities available in the FCT.
He noted that Diaspora plays a pivotal role in shaping the development and progress of Nigeria, “bringing with them a wealth of resources such as knowledge, skills, experiences and finances, which are invaluable to our economy and growth.”
While urging the Diaspora to get involved in the infrastructure expo, he explained that their input and collaboration will, no doubt, be very critical in the determination to create a more vibrant and sustainable capital city that is comparable to world’s best capital cities in terms of infrastructure and service delivery.
He reminded them that their contributions range from healthcare to technology; education to entrepreneurship. The infrastructure investment expo will focus only on infrastructure as the government alone can’t do it, he noted.
He explicitly said Nigerians abroad are easily regarded as the most educated individuals who are the leading lights in their chosen professions and careers.
The minister, therefore, emphasised the importance of harnessing this professionalism, expertise and resources to accelerate the development process in Nigeria and the FCT in particular.
He said that was why it is imperative that government and the Diaspora leverage on interconnectedness and build productive networks of all Diaspora community to attract investors to partner with “us in our quest for accelerated growth and progress.”
Other areas like transportation, housing, healthcare and renewable energy, Wike said, there are countless ways in which Diaspora investments can leave a lasting impact and transform the landscape of the capital city for the better.
To the Diaspora, he said their insights, expertise, and financial resources can play critical roles in enhancing the basic infrastructure, amenities, and overall quality of life in “our beloved capital city.
“Together, we can build a stronger, more resilient Abuja that serves as a model for sustainable, urban development and innovation.
“FCT is 48 years old and there are a lot of opportunities that we need to develop more. Tourism is one of the key areas. In some countries, tourism is their mainstay. This, also, he believes can happen in Abuja.
“By tapping your talents and resources, we can create enduring partnerships that can drive inclusive growth, ensure job creation, and improve the standard of living of our people.
“People can be invited to take over the site and develop it for us, it will bring about huge revenue generation for FCT administration”.
According to the minister, the time has come to revive the hidden potential and opportunities in the territory under his watch.
Wike, therefore, urged them to see Abuja not just as a city, but also as a source of pride as a people and as a canvas of opportunities, waiting to be tapped.
The expo is expected to show the present viable, well-structured infrastructure projects with clear investment opportunities.
It will also highlight investment incentives by emphasising tax break, subsidies, and other benefits for investing in FCT infrastructure.
The expo will concentrate on the master plan, showcasing the FCT comprehensive infrastructure development plan. It will highlight opportunities for investment.
Going by the plans of the committee put in place for the summit, it will explore PPPs to collaborate with private investors on infrastructure projects.
It is expected to be a novel and transformative event, the first of its kind for the FCT.
As for the risk management, the expo will address potential risks and outline mitigation strategies to assure investors.
The expo will serve as a platform for fostering partnership between the public and the private sectors.
It will be an opportunity for the expo to analysis on the Return On Investment, (ROI) by providing detailed ROI projections for each project.
It will afford site visits and inspections by arranging site visits to showcase project locations and progress.
The expectation of the committee is that the event will allow networking opportunities by facilitating meetings between investors, government officials, and project developers.
It will bring together policymakers, developers, financiers and international investors to initiate dialogues, partnership, and projects that will drive forward the infrastructure agenda of the FCTA.
The marketing and promotion aspect will utilise international marketing campaigns, social media, and industry events to promote the expo.
The follow up and support system will offer post event support to investors, facilitating connections and next steps.
However, the international investors’ expectations may include clear project information, which the committee will provide.
There will be detailed project data, including costs, timelines, and ROI projections.
Stable regulatory environment that will lead to predictable policies and minimal risk of sudden changes will be looked into at the summit.
Investment security that is assurance of investment protection and dispute resolution mechanism, will be given a platform.
Scalability, that is opportunities for expansion and growth will also be looked into.
Partnership and collaboration that will enable potential for partnerships with local businesses and government entities will also be on the burner.
Exit strategies: the summit will focus on the clear options for divesting or exiting investments.
By addressing these expectations and showcasing the FCT infrastructure investment opportunities, these will attract international investors to support the region’s growth and development.
The time has come to revive the hidden potential and opportunities in the territory, that’s the mandate given to the committee.
“By tapping your talents and resources, we can create enduring partnerships that can drive inclusive growth, ensure job creation, and improve the standard of living of our people,” the minister reminded the Diaspora.
“Together, we can build a stronger, more resilient Abuja that serves as a model for sustainable, urban development and innovation.”
According to him, across the world, governments partner with the private sector for development, therefore, emphasising that the expo is targeted at investors who are interested in providing infrastructure for all sectors for accelerated development in the nation’s capital in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
While the committee is leaving no stone unturned, the clarion call for the Diaspora to come and invest in the virgin investment opportunities in FCT is noted.
Already, feelers at the committee level are that many diasporans are anxiously waiting to participate in the summit.
The committee is of the view that after this summit, Abuja will not remain the same as the landscape will change for good.
Anyway, as the days draw nearer, the expectation is that it will be a success story that will transform FCT around in infrastructure and projects transformation.
Abdul writes from Abuja via [email protected]
