Saudi, Canada, Bangladesh, others  join $10bn investment drive in Northern Nigeria

Northern Nigeria has launched a new institutional platform to accelerate its economic transformation, unveiling the Northern Nigeria Economic Development Council (NNEDC) with more than $10 billion in investment pledges from both local and international partners.

The announcement came at the close of the Northern Nigeria Investment and Industrialisation Summit (NNIIS) in Abuja, which drew foreign delegations, federal officials, northern governors, financiers, private sector leaders, and development experts.

The two-day event, themed “Unlocking Strategic Opportunities in Mining, Agriculture, and Power (MAP 2025),” showcased business opportunities, matchmaking sessions, and state-level investment promotions across the region.

According to a communiqué signed by Prof. Ango Abdullahi, Chairman of the Northern Elders Forum (NEF) Board of Trustees, the NNEDC will drive the implementation of a Northern Nigeria Economic Development Masterplan, anchored on three pillars: security, policy coherence, and private capital mobilisation.

Foreign delegations from Saudi Arabia, Canada, Bangladesh, Turkey, India, and South Africa pledged billions of dollars in mining, agriculture, and energy, signalling international confidence in the region’s potential.

President Bola Tinubu, represented by Minister of Finance and Coordinating Minister of the Economy Wale Edun, declared federal support for the initiative, stressing that reviving Northern Nigeria’s economy was vital to national prosperity.

In a landmark development, governors from the North West, North East, and North Central signed the Northern Nigeria Economic Development Charter, committing their states to a shared economic vision.

The NNEDC will operate under the joint oversight of NEF and the Northern Nigeria Governors’ Forum (NNGF). A Joint Implementation and Monitoring Taskforce has been mandated to publish a roadmap within 60 days and release quarterly scorecards measuring progress on jobs, energy capacity, and investment inflows.

“This is a decisive pivot from rhetoric to execution,” said Prof. D.D. Sheni, Director-General of NEF. “With security as the bedrock, policy coherence as the framework, and private capital as the engine, Northern Nigeria can turn its natural endowments into sustainable growth.”

Participants highlighted the region’s vast mineral deposits – including gold, copper, lithium, and tantalite – while urging reforms in land administration, mining governance, and permitting systems to prevent illegal mining, environmental degradation, and social unrest.

They also called for capital-market mobilisation, including sukuk, green bonds, and infrastructure funds, alongside standardised public-private partnership (PPP) models to fast-track power and infrastructure projects.

By creating the NNEDC, NEF and the northern governors have signalled a new era of regional cooperation, with promises of transparency, accountability, and inclusive prosperity at the heart of their agenda.