Connect with us

Local

Africa: Can the World Investment Summit in Abuja Transform Africa's Economic Future?

Published

on

62 Views

Nigeria will host the World Investment Summit (WIS) from April 27 to 30, 2026. The event will take place in Abuja and bring together heads of state, ministers, global investors, and business leaders. Over 80 presidents and prime ministers, 96 ministers, 800 speakers, and 8,000 delegates will attend.
The summit carries a clear theme: Unlocking Capital, Accelerating Development, Driving Prosperity. Its goal is to bring in $5 trillion in direct investment and mark a new phase in economic expansion across the African continent.
Source: pexels.com
WIS 2026: A Blueprint with Numbers
Keep up with the latest headlines on WhatsApp | LinkedIn
The decision to host the summit is deliberate. Nigeria sits at the centre of West Africa with a population of over 220 million. Its capital city, Abuja, will serve as the base for discussions and deals involving billions in foreign capital. The Presidential Foreign Intervention Promotion Council (PFIPC) leads the planning and delivery.
During the official logo unveiling and roadmap event at the Wells Carlton Hotel, PFIPC’s Director-General Prince Adeniyi Adeyemi Matthew stated that WIS 2026 goes beyond prestige. It positions Nigeria as a platform for genuine development.
The PFIPC encourages Nigerian ministries, departments, and agencies to unite in purpose. Nigeria aims to become a partner of choice in international finance, trade, and technology. By centralising efforts and avoiding friction among agencies, coordination strengthens confidence.
Natural Capacity and Economic Targets
Nigeria has access to the $3 trillion African Continental Free Trade Area. Its market includes agriculture, energy, technology, manufacturing, and the creative economy. These sectors support Nigeria’s appeal in attracting long-term capital inflows. The digital sector alone recorded a 20 percent contribution to real GDP in Q2 2024. This means value is shifting steadily from oil to information and communications technology.
The strategy supports a broad transformation. The Nigerian government published the National Digital Economy Policy and Strategy for 2020 to 2030. It identifies eight pillars for digital development. These include regulations, skills, service infrastructure, soft infrastructure, digital service development, and indigenous content.
International Partnerships Shaping the Future
The United States, China, Japan, and the EU are involved in Nigeria’s digital economy. Microsoft launched a training initiative to teach five million Nigerians coding and data skills. Google introduced programs like the Africa Developer Scholarship and digital marketing courses.
Cisco’s deal with Nigeria’s technology agency supports training through the EDGE Center in Lagos and a broad academy network.
Huawei signed a memorandum for ICT training. JICA supports civil servant upskilling through hands-on workshops. Meanwhile, the European Union committed €820 million between 2021 and 2024 under its Global Gateway plan. These initiatives aim to increase local technical knowledge and equip workers for industry-specific challenges.
Infrastructure Challenges and State Reforms
While access to internet services continues to expand, power remains a difficult issue. Data centres and cloud computing facilities require steady electricity, and Nigeria’s current infrastructure demands improvement. Some firms build their own supply sources or partner with local distribution firms.
Regulatory clarity is another area of focus. Data handling rules fall under the Nigeria Data Protection Regulation. These rules apply to companies processing Nigerian data regardless of location.
Nigeria’s Cloud Computing Policy pushes for localisation, so government-related data must be stored within the country. At the same time, the rules allow for international providers to engage, provided local infrastructure cannot meet demand.
Procurement procedures for public projects follow the Public Procurement Act of 2007. The Bureau of Public Procurement monitors contracts. It ensures that awarded bids pass through a verification process. However, delays in payments to contractors still occur and present a challenge for foreign firms.
Enabling the Digital Economy
Reliable broadband access and affordable internet pricing are essential for the digital economy. In March 2024, over 163 million Nigerians had internet access. Broadband penetration stood at 43.5 percent. Nigeria’s mobile teledensity reached 101.16 percent, and the country had 157 million mobile subscribers.
Digital services depend entirely on foreign systems. Everything online connects through international platforms. This applies to streaming, online trade, secure transactions, and access-based content. For example, users accessing an online casino from the UK see full libraries of games, welcome features, and multiple types of gameplay. These services rely on uninterrupted access, which means every improvement in connectivity feeds directly into better digital performance across the board.
The Nigerian government launched the “3 Million Tech Talent” program in October 2023 to train programmers. Other projects include the 774 LGAs Connectivity and the Fiber Forward rollout. These aim to extend fibre optic networks by 90,000 kilometres and link all local government areas.
Smart Services and Infrastructure Growth
Cities like Lagos, Abuja, and Port Harcourt are working on urban digitisation. The Eko Atlantic project is building a tech-based city that includes transport systems, healthcare, public safety, and housing. All of these run on real-time data, supported by broadband networks and smart grids.
Nigeria is developing Digital Public Infrastructure (DPI) to manage identification, payments, and access to public services. The Nigeria Data Exchange Platform will remove the need for users to submit the same data repeatedly. This will enable agencies to verify records instantly. The framework is scheduled to complete in 2025. The DPI roll-out begins in 2026.
NIPOST is transforming as well. It now installs smart lockers, creates digital postcodes, and supports financial transfers. Nigeria Communications Satellite Ltd is expanding satellite reach to rural areas. These actions support access, inclusion, and secure data handling.
AI and Cloud Computing Offer Scale
The government drafted a National Artificial Intelligence Strategy in 2024. This plan sets priorities in agriculture, public health, education, and climate management. The AI ecosystem supports public participation and focuses on local solutions. Ethical use and trust remain key. The review phase ended in August 2024, and the strategy moved to implementation.
Cloud computing services offer massive potential. Large investments continue to support data centre construction, and many providers now meet Tier III and Tier IV standards. Cloud services must meet privacy expectations and deliver efficient access. Nigerian and foreign investors have opportunities to partner or build their own facilities.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.
Payment Services and Finance
Telecom companies like MTN, Airtel, Globacom, and 9mobile now operate as Payment Service Banks. They provide mobile banking to millions who use cash. About 90 percent of all customer-to-business transactions in Nigeria happen through SMEs.
These mobile services reach people who are beyond the reach of traditional banks. MTN’s MoMo PSB and Airtel’s SmartCash PSB lead in transactions, and they also expand formal banking to broader sections of society.
Fintech keeps growing with new platforms offering digital payments, lending, savings, and asset management. These firms operate in both urban and remote areas. They help individuals manage payments and allow businesses to scale their services.
Aligning Trade with Infrastructure
Government policies are adapting. Nigeria is moving from tariff collection towards capital investment models. Minister Jumoke Oduwole confirms that customs revenue will give way to income from trade, production, and export. With the AfCFTA open to all member states, Nigeria’s potential as a production centre grows rapidly.
Digital platforms must align with secure trade policies. Logistics must support goods movement. Payments must pass through verified channels. Businesses that operate across sectors are finding ways to automate records, track costs, and prove compliance.
Every working system, from broadband internet to logistics, must follow this structure. WIS 2026 creates space for decision-makers to close deals based on real numbers, clear benefits, and lasting impact. Nigeria presents a case where effort meets intent, and where results stand to benefit the whole region.
Read the original article on Vanguard.
AllAfrica publishes around 600 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa – aggregating, producing and distributing 600 news and information items daily from over 110 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.

source

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Local

Africa: Land Is Africa's Best Hope for Climate Adaptation – It Must Be the Focus At COP30

Published

on

7 Views

Agriculture, forestry and other land uses together account for about 62% of Africa’s greenhouse gas emissions. At the same time, land degradation, deforestation and biodiversity loss are eroding Africa’s resilience.
But land – especially agriculture – has been on the margins of climate change initiatives. Even at the annual global climate change conference, land hasn’t featured much.
This is changing. In September 2025, Africa’s climate community met in Ethiopia, to agree on the continent’s climate priorities ahead of this year’s global climate conference, COP30. They agreed that land could be Africa’s most powerful tool in tackling climate change.
Much will depend on securing finance at COP30 for agroforestry, forest management and soil carbon restoration projects.
Follow us on WhatsApp | LinkedIn for the latest headlines
Read more: Climate crisis is a daily reality for many African communities: how to try and protect them
I’ve been researching land for over 20 years. My research focuses on how to sustainably regenerate land, how community forest enterprises can combat deforestation, and how to rebuild forests as a way of combating climate change.
For this reason, I argue that COP30 must place land restoration and sustainable land management at the heart of the climate agenda. It should recognise that healthy soils, forests and ecosystems are not side issues to climate change. They are the very foundation of economic growth and making the world resilient to climate disasters.
Read more: Climate disasters are escalating: 6 ways South Africa’s G20 presidency can lead urgent action
This is especially critical for Africa, whose people and economies depend so heavily on the land. Agriculture alone, which is intrinsically tied to land, employs over two thirds of Africa’s labour force and typically accounts for 30%-40% of gross domestic product. Yet climate change disasters like prolonged droughts, rising temperatures and destructive floods are steadily eroding the land.
Millions of people in Africa could lose their farms, income, food, and future chances if COP30 does not recognise how land, nature, and climate change are all connected.
Why Africa must prioritise land and nature at COP30
Africa’s agriculture, the backbone of most economies on the continent, has been badly affected by more frequent droughts, floods and unpredictable rainfall. As a result, African countries sometimes lose an estimated 1%-2% of their gross domestic product in a year.
Over half of Africa’s population depends on crops that are fed only by rain. Therefore, extreme weather events hit the majority of Africans directly. At the same time, nearly half of the continent’s land area is degraded.
Read more: Indigenous knowledge systems can be useful tools in the G20’s climate change kit
This affects agricultural productivity and the livelihoods of around 500 million people.
Forest ecosystems such as the Congo Basin, the Guinean forests and Africa’s dryland forests are disappearing rapidly. This is already having devastating consequences for communities that rely on them for food, fuel and income.
Africa must negotiate climate finance with one voice
Adapting to climate change remains Africa’s most urgent priority. The good news is that African countries are already deploying land based actions (adaptation and using land to sequester carbon and reduce emissions) as a weapon against climate change. They are achieving this by expanding agroforestry, restoring wetlands and managing grasslands more sustainably.
This boosts soil health and increases the carbon stored in the ground. These projects are very useful in cutting greenhouse gas emissions, protecting livelihoods and building resilience.
The September 2025 second Africa Climate Summit made the continental emphasis on land official. Its Addis Ababa declaration placed land and nature-based solutions at the centre of Africa’s climate agenda. This was a step forward from Africa’s 2023 climate summit declaration, which made only passing references to land.
Read more: African countries shouldn’t have to borrow money to fix climate damage they never caused – economist
What’s needed now is for Africa to unite and focus on three key climate change areas:
What Africa needs to do at COP30
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.
Read more: African countries gear up for major push on climate innovation, climate financing and climate change laws
Peter Akong Minang, Director Africa, CIFOR-ICRAF, Center for International Forestry Research – World Agroforestry (CIFOR-ICRAF)
This article is republished from The Conversation Africa under a Creative Commons license. Read the original article.
AllAfrica publishes around 600 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa – aggregating, producing and distributing 600 news and information items daily from over 110 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.

source

Continue Reading

Local

Africa: African Union Commission Welcomes and Congratulates the Republic of South Africa As G20 Chair and Host

Published

on

6 Views

1. The African Union Commission (AUC) warmly expresses its support for the Republic of South Africa as G20 Chair and welcomes the country for hosting the G20 Summit in Africa for the first time. This milestone reflects South Africa’s growing role in global governance.
2. As the current Chair of the G20, South Africa has shown exceptional leadership in promoting the priorities of the Global South, advancing sustainable development, and strengthening inclusive global governance.
3. The Republic of South Africa is a vibrant democracy that upholds equality, human rights, and the rule of law. Its Constitution and policies reflect values aligned with the African Charter on Human and Peoples’ Rights.
4. South Africa is a nation rich in diversity, home to people of many races, cultures, languages, and faiths living together in unity. This inclusivity is a source of national strength and global admiration.
5. The African Union encourages all international partners to engage with South Africa and the wider African continent on the basis of mutual respect, truth, and constructive cooperation, supporting Africa’s continued contribution to global peace, development, and prosperity.
Read the original article on African Union.
AllAfrica publishes around 600 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa – aggregating, producing and distributing 600 news and information items daily from over 110 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.

source

Continue Reading

Local

Africa: Governance Failures, Not Just Guns, Driving W/Africa's Growing Crises – Experts Warn

Published

on

8 Views

Abuja — Experts and peacebuilding stakeholders have raised the alarm that governance failures, weak state institutions, and exclusionary politics, not armed violence alone, are fuelling the wave of instability sweeping across West Africa.
They stressed that restoring lasting peace and security in the region will depend on inclusive governance, stronger regional collaboration, and community-driven solutions.
The warning came at the second edition of the West Africa Peace and Security Dialogue (WaPSED 2025), held in Abuja.
Follow us on WhatsApp | LinkedIn for the latest headlines
The event was jointly organised by the Building Blocks for Peace (BBFORPEACE) Foundation, the Institute for Peace and Conflict Resolution (IPCR), the LAC-LAC Network of Niger Republic, the Global Partnership for the Prevention of Armed Conflicts (GPPAC) West Africa, and the Society for Peace and Practice.
Speaking at the opening session, Dr. Joseph Ochogwu, Director-General of the Institute for Peace and Conflict Resolution (IPCR), said the region’s lingering challenges; from violent extremism and political instability to climate-induced conflicts, highlight the urgent need for inclusive dialogue and homegrown approaches.
“Sustainable peace in West Africa requires strong regional cooperation and locally driven strategies. We must strengthen our institutions, empower communities, and integrate peace education into national development frameworks,” Ochogwu said.
He urged participants to move beyond mere discussions and focus on practical strategies capable of transforming the region’s security and governance landscape.
Also speaking, Mr. Rafiu Adeniran Lawal, Executive Director of the Building Blocks for Peace Foundation and Regional Coordinator of GPPAC West Africa, said the dialogue was convened to explore solutions to the diverse threats undermining stability across the sub-region, ranging from banditry and insurgency to democratic decline and economic hardship.
“Across West Africa, we face persistent herder-farmer clashes, banditry, and insurgency which have disrupted livelihoods and deepened food insecurity.
“Beyond Nigeria, the resurgence of military takeovers in Niger, Mali, Burkina Faso, and Guinea reflects a troubling democratic retreat and growing disillusionment with governance,” Lawal noted.
He explained that the 2025 Dialogue, themed ‘Reimagining Peace and Security in West Africa: Local Solutions, Regional Solidarity and Global Partnerships,’ was designed to promote community ownership of peace processes and strengthen collaboration among stakeholders.
“Our goal is to centre real actors and lived experiences. By harnessing local knowledge and regional solidarity, we can chart a new course that places people, not power, at the heart of peacebuilding,” he said.
Delivering the keynote address, Prof. Isaac Olawale Albert of the Institute for Peace and Strategic Studies and the TETFund Centre of Excellence in Security Management, University of Ibadan, said the region’s insecurity is deeply rooted in poor governance, weak leadership, and the failure of states to meet citizens’ expectations.
“The problem is not just a lack of weapons to fight insurgents; it is the weakness of our governance systems. Corruption, poor coordination, and elite competition over state resources have created governance vacuums that non-state actors now exploit,” Prof. Albert said.
He argued that lasting solutions require a balanced approach that combines local innovation, regional solidarity, and international support to tackle governance gaps, inequality, and institutional decay.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.
“Peace and security cannot be sustained by governments alone. They must be co-owned by citizens, institutions, and regional partners who share a common vision for stability,” he warned.
Prof. Albert also called on governments to prioritise institution-building, promote accountability, and invest in effective local governance structures capable of addressing community-level grievances.
The dialogue brought together policymakers, security experts, civil society organisations, academics, ECOWAS representatives, and members of the diplomatic community.
Participants agreed that rebuilding trust between governments and citizens, strengthening democracy, and promoting transparent governance are essential for lasting peace in the region.
Read the original article on Vanguard.
AllAfrica publishes around 600 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa – aggregating, producing and distributing 600 news and information items daily from over 110 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.

source

Continue Reading

Trending

Copyright © 2024 an24.africa