Why investing in FCT, Nigeria is a wise decision, by Wike, Elumelu

Federal Capital Territory (FCT) Minister Nyesom Wike has urged local and international investors to take advantage of the abundant opportunities in the nation’s capital to drive sustainable growth and development.

Wike spoke yesterday at the opening of the second Abuja Business and Investment Expo (ABIEXPO 2025) at the Bola Ahmed Tinubu International Conference Centre in Abuja.

The event was organised by the Federal Capital Territory Administration (FCTA) through its investment arm, the Abuja Investments Company Limited (AICL).

Represented by the FCT Minister of State, Dr. Mariya Mahmoud, the minister reaffirmed the administration’s commitment to making Abuja not just the political capital of Nigeria but a model of sustainable economic growth in Africa.

Wike said: “As Abuja symbolises Nigeria’s aspirations, our mission, supported by Mr. President, is to make it a safe, investment-friendly city that empowers all citizens.”

The minister noted that the theme of the theme: Empowering Sustainable Growth: Unlocking Potentials in Emerging Markets, reflected the Renewed Hope Agenda of President Bola Ahmed Tinubu, which focuses on inclusive development, infrastructure expansion, and job creation.

He said the administration was prioritising infrastructural development to link satellite towns, area councils, and rural communities to the city centre.

Wike noted that such projects are essential for industrialisation and economic diversification.

Wike hailed the AICL for organising what he called a “strategic and forward-looking platform” that brings together investors, innovators, and development partners to explore opportunities for shared prosperity.

“The FCT Administration remains steadfast in building a sustainable, flourishing capital city and enhancing Nigeria’s position on the continental and global stage,” he added.

Delivering the keynote address, the Chairman of Heirs Holdings, Tony Elumelu, urged African investors to prioritise local investments, stressing that the continent’s economic future must be shaped by Africans themselves.

Elumelu said: “Make your money, but please bring it home and invest locally.

“It will be a disservice to make so much and then keep the money in economies that are already developed.”

The popular banker stressed that Africa’s economic transformation “will not be written in boardrooms in Washington D.C. or London but right here in Africa, in Nigeria, in Abuja – and it will be written by Africans”.

The Heirs Holding Chairman underscored the importance of collaboration between government and the private sector to tackle poverty, saying: “Poverty anywhere is a threat to all of us everywhere.”

He announced that the Tony Elumelu Foundation had supported 24,000 young Africans with training and a non-refundable $5,000 seed grant, including 641 beneficiaries from the FCT.

The Group Managing Director/CEO of AICL, Ambassador Maureen Tamuno, said the expo aligned with the vision of the Renewed Hope Agenda, which seeks to boost investor confidence, stabilise the micro-economy and promote sustainable development.

She said this year’s edition attracted investors, entrepreneurs, and policymakers from within and outside Nigeria, including delegates from South Africa, the United Kingdom (UK), Canada, and Botswana.

“ABIEXPO 2025 marks the next chapter of Abuja’s transformation into a resilient, globally competitive city,” Tamuno said.

She added that the event featured a dedicated Youth Day and Women’s Day to promote inclusion and connect innovators with investors.