The Federal Government has completed 40 major road and bridge projects across Nigeria between May 2023 and May 2026, while construction is ongoing on approximately 5,400 kilometres of highways, expressways, and strategic road corridors nationwide. The update was contained in the Federal Ministry of Works’ three-year projects report, which highlights the administration’s ongoing investment in transport infrastructure.

According to the report, about 1,800 kilometres of major road projects have been completed during the review period, while 133 additional projects are currently under construction. The projects span all six geopolitical zones and include highway reconstruction, road dualisation, bridge construction, bypasses, coastal highways, and emergency road interventions aimed at improving connectivity across the country.

The South-West recorded the highest number of completed projects with 12, followed by the South-East, North-East, and South-South with six each. The North-West and North-Central completed five projects each. Major infrastructure corridors receiving attention include the Lagos-Ibadan Expressway, Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Kano-Maiduguri Road, Lokoja-Benin Road, Abuja-Kaduna-Zaria-Kano Highway, and several other strategic routes linking commercial centres, ports, agricultural communities, and international borders.

The Ministry noted that the projects are designed to improve transportation efficiency, reduce travel time, lower vehicle operating costs, facilitate the movement of agricultural produce and manufactured goods, and stimulate economic growth. In addition to major highway construction, the programme also includes emergency repairs to roads, bridges, and culverts damaged by flooding and erosion to maintain access for affected communities.

The report further stated that several leading construction firms, including CCECC, Hitech Construction, Julius Berger, CGC Nigeria, Setraco, RCC, Arab Contractors, China Harbour Engineering Company, Mothercat, and Dangote Industries, are executing projects across different regions under the Federal Government’s infrastructure programme.

Stakeholders believe that the success of the road programme will ultimately depend on timely funding, quality project execution, and effective maintenance after completion. They note that improved road infrastructure has the potential to strengthen regional integration, reduce logistics costs, improve road safety, and support Nigeria’s long-term economic development

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A Premier Executive Platform for Africa’s Housing Future

The Africa International Housing Show (AIHS) proudly presents the AIHS Housing CEOs Forum, a high-level executive platform bringing together Africa’s most influential leaders across housing, finance, infrastructure, investment, and urban development sectors.

As Africa experiences rapid urbanization and increasing housing demand, the need for innovative financing structures, strategic partnerships, and sustainable urban development solutions has become more urgent than ever.

The Forum creates a powerful environment where policymakers, investors, developers, financial institutions, development partners, and industry stakeholders can collaborate, exchange ideas, and drive practical solutions for housing transformation across the continent.

Hosted as part of the 20th Anniversary Edition of AIHS, the Forum seeks to reposition housing as a catalyst for economic growth, job creation, infrastructure expansion, and sustainable city development across Africa.

Why the Forum Matters

Africa faces a significant and growing housing deficit driven by several challenges:

• Rapid population growth
• Limited access to affordable mortgage systems
• Rising construction costs
• Inadequate infrastructure financing
• Weak housing delivery systems

The AIHS Housing CEOs Forum was created to bridge these gaps by establishing a strategic platform where:

• Policy meets investment
• Innovation drives transformation
• Partnerships unlock opportunities
• Finance supports sustainable urban growth

The Forum serves as a meeting point for governments, private sector leaders, development finance institutions, and global investors committed to shaping the future of housing in Africa.

Forum Objectives

Promote Strategic Housing Investments

Facilitate high-level engagement among governments, investors, developers, financial institutions, and development partners to unlock large-scale housing and infrastructure financing opportunities.

Strengthen Public-Private Partnerships (PPPs)

Encourage partnerships that accelerate affordable housing delivery and urban transformation across Africa.

Advance Housing Finance Innovation

Promote innovative financing mechanisms, including:

• Mortgage systems
• Blended finance models
• Real Estate Investment Trusts (REITs)
• Infrastructure bonds
• Housing funds
• Fintech-driven housing solutions

Foster Policy Dialogue

Create a platform for policymakers and industry leaders to address key issues surrounding:

• Land administration
• Housing finance
• Regulatory reforms
• Urban governance

Position AIHS as Africa’s Leading Housing Investment Platform

Strengthen AIHS as a globally recognized platform for housing investment, policy engagement, innovation, and sustainable urban development.

Who Will Attend?

The Forum is expected to convene over 500 high-level delegates from Africa and beyond. Participants include:

Government Leaders

• Presidents and Heads of State
• Ministers of Housing
• Ministers of Finance
• Governors
• Mayors and City Leaders
• Housing Agencies and Regulators

Private Sector Executives

• Bank CEOs
• Mortgage Bank Executives
• Real Estate Developers
• Construction Company Executives
• Infrastructure Investors
• Pension Fund Administrators
• PropTech Founders

Development Partners

• Development Finance Institutions (DFIs)
• Multilateral Organizations
• Bilateral Agencies
• Sovereign Wealth Funds

Industry Stakeholders

• Architects
• Urban Planners
• Housing Cooperatives
• Manufacturers
• Professional Associations

Key Discussion Areas

Housing Finance & Mortgage Expansion

• Affordable mortgage systems
• Long-term housing finance
• Pension-backed housing finance
• Mortgage refinancing models
• MREIF and related initiatives

Public-Private Partnerships (PPPs)

• Structuring bankable housing PPPs
• Government incentives
• Risk-sharing frameworks

Affordable Housing Delivery

• Mass housing strategies
• Cost-reduction innovations
• Alternative building technologies

Smart Cities & Urban Development

• Integrated urban planning
• Smart infrastructure
• Climate-resilient cities

Infrastructure & Construction Financing

• Infrastructure investment models
• Blended finance solutions
• Infrastructure bonds

Green & Sustainable Housing

• Energy-efficient housing
• Green finance
• Climate-smart construction

Technology & Innovation

• PropTech solutions
• Digital land systems
• Artificial Intelligence in construction
• Smart building technologies

Forum Highlights

Ministerial & CEOs Roundtable

An exclusive high-level dialogue featuring ministers, commissioners, CEOs, investors, and global housing leaders.

Housing Investment Marketplace

A dedicated platform for project presentations, investment matchmaking, and partnership opportunities connecting governments, developers, financiers, and investors.

DFI & Investors Session

Dedicated engagement with leading development finance and investment institutions, including:

• World Bank Group
• International Finance Corporation (IFC)
• African Development Bank (AfDB)
• Shelter Afrique
• Africa Finance Corporation (AFC)

CEO Fireside Chats

Strategic conversations with industry leaders and global experts shaping the future of housing and urban development.

Policy & Reform Dialogue

Focused discussions on:

• Land reforms
• Mortgage regulations
• Housing finance reforms
• Urban governance

Innovation & PropTech Showcase

Presentation of emerging technologies and digital solutions transforming Africa’s housing ecosystem.

AIHS Housing Leadership Awards

Recognition of excellence in:

• Affordable housing delivery
• Housing finance
• Innovation
• Public service leadership
• Urban transformation

Expected Outcomes

The Forum is expected to generate:

• Strategic housing investment commitments
• New public-private partnership agreements
• Increased DFI participation in housing projects
• Cross-border housing collaborations
• Enhanced policy dialogue and reforms
• Greater access to housing finance
• Increased visibility for African housing opportunities
• Stronger collaboration among stakeholders

Event Information

Event: AIHS Housing CEOs Forum

Hosted By: Africa International Housing Show (AIHS)

Special Edition: 20th Anniversary Edition

Strategic Partner: World Expo

Venue: Abuja, Nigeria

Expected Participation:

• 20,000+ AIHS attendees
• 500+ exhibitors
• 20+ participating countries
• 500+ CEOs, policymakers, and investors

Partnership & Sponsorship Opportunities

Organizations can participate as:

• Strategic Partners
• Lead Sponsors
• Session Sponsors
• Knowledge Partners
• Investment Partners
• Exhibitors

Benefits Include:

• High-level visibility
• Executive networking opportunities
• Premium brand positioning
• Access to policymakers and investors
• Media exposure
• Thought leadership opportunities

Join Africa’s Housing Transformation

The AIHS Housing CEOs Forum represents a major step toward building Africa’s leading housing investment and policy platform. By convening leaders from government, finance, development institutions, and the private sector, the Forum will catalyze practical solutions capable of transforming Africa’s housing and urban development landscape for generations.

AIHS invites stakeholders across Africa and the global community to participate in this landmark initiative and help shape the future of housing across the continent.

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Nigeria’s infrastructure investment is projected to rise significantly over the next two decades, with annual spending expected to reach $40 billion by 2050, according to a new report by PwC.

The firm’s Global Infrastructure Outlook places Nigeria as Africa’s largest infrastructure market, ranking 23rd globally in investment potential. The projection reflects a 77 percent increase from current spending levels, driven by expanding demand across key sectors.

Growth Outlook Backed by Demographics and Urbanisation

The report attributes Nigeria’s long-term growth trajectory to rapid population expansion, accelerating urbanisation, and rising demand for modern infrastructure systems.

These structural drivers are expected to sustain Nigeria’s leadership position within Africa’s infrastructure landscape, even as other emerging markets scale up investments.

Africa, in general, is projected to record the fastest infrastructure investment growth globally through 2050, reinforcing Nigeria’s strategic importance on the continent.

Power, Transport, and Digital Systems Lead Expansion

Infrastructure growth will be concentrated in three primary sectors: power, transport, and digital infrastructure.

Power investment is expected to expand the fastest, rising by 187 percent—from $1.1 billion in 2024 to $3.2 billion by 2050. This reflects ongoing efforts to address electricity shortages, improve grid stability, and support industrial productivity.

Transport infrastructure is also set to attract substantial capital as Nigeria continues to develop road networks, rail systems, and logistics corridors to boost trade and economic activity.

Digital infrastructure is emerging as a critical priority, with increasing investments in data centres, connectivity, and smart systems shaping future development strategies.

Global Investment Trends Provide Context

Globally, infrastructure spending is expected to grow from $4.4 trillion in 2024 to $6.9 trillion by 2050, with cumulative investment reaching $151.1 trillion.

This expansion is driven by major economic shifts, including electrification, digital transformation, and urban development.

For Nigeria, aligning with these global trends will be essential to attract long-term capital and remain competitive in international markets.

Funding Gap Remains a Major Constraint

Despite the positive outlook, Nigeria faces significant funding challenges in achieving the projected $40 billion annual spending level.

Current infrastructure deficits remain wide, with financing needs exceeding government budget capacity.

PwC highlights public-private partnerships (PPPs) as a critical mechanism for closing this gap, enabling collaboration between government and private investors to deliver large-scale projects.

However, key risks persist, including regulatory uncertainty, institutional inefficiencies, and historical delays in project execution.

Implications for Investors and Policymakers

For investors, the report signals strong long-term opportunities in infrastructure assets, particularly in power, transport, and digital sectors where demand continues to grow.

For policymakers, the findings underscore the need for consistent regulatory frameworks, improved project execution capacity, and innovative financing models.

Delivering on these projections will require coordinated planning and sustained reform efforts to translate investment potential into measurable development outcomes.

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The World Bank has approved a $500 million loan to support Nigeria’s agriculture sector, targeting enhanced productivity, food security, and rural livelihoods. The financing is part of ongoing efforts to address structural inefficiencies and strengthen the country’s economic resilience.

Financing Framework and Objectives

The funding will focus on:

• Enhancing agricultural productivity across key commodities.
• Improving access to inputs and modern farming techniques.
• Strengthening value chains, including storage, processing, and distribution.
• Promoting climate-resilient agriculture and irrigation systems.

Improving market access for smallholder farmers, who contribute significantly to Nigeria’s agricultural output.

Tackling Food Security Challenges

Nigeria faces growing food security pressures due to population growth, supply disruptions, and rising production costs. The World Bank loan is expected to stabilize domestic food supply, boost production, and reduce dependence on imports, helping to ease food inflation and overall economic pressure.

Strengthening Rural Economies

Agriculture remains a primary source of employment in rural Nigeria. By enhancing productivity and market accessibility, the program is expected to increase farmers’ incomes, reduce poverty, and drive inclusive economic growth.

Infrastructure and Value Chain Development

The program includes strategic investments in agricultural value chains, focusing on logistics, storage, processing, and transportation infrastructure. Improved infrastructure will reduce post-harvest losses, increase efficiency, and improve pricing outcomes for farmers.

Policy and Institutional Implications

The World Bank financing also aims to:

• Modernize farming practices with technology-driven solutions.
• Support economic diversification, reducing Nigeria’s reliance on oil revenues.
• Improve inflation dynamics by increasing food production.

Implementation Challenges

Effective deployment will require addressing:

• Insecurity in farming regions.
• Limited infrastructure and logistics.
• Governance and accountability issues.

Success depends on transparency, coordinated policy, and sustained investment in agriculture and rural development.

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The Nigerian pension industry is taking a proactive step to address the country’s infrastructure deficit by establishing an investment consortium aimed at channeling pension assets into strategic national projects.

Ms. Omolola Oloworaran, Director General of the National Pension Commission (PenCom), announced the initiative at a Lagos press briefing following the inaugural Pension Industry Leadership Council (PILC) meeting.

PILC: Mobilising Pension Capital for National Projects

The PILC initiative intends to mobilize pension assets for infrastructure financing, creating structured investment vehicles that ensure risk mitigation and sustainable returns. Oloworaran stressed the economic benefits:

“It is critical to channel pension capital into infrastructure, create bankable investment pipelines, support national development, and preserve returns.”

The newly formed Investment and Financial Markets Committee will design frameworks that minimize exposure for pension funds while enabling large-scale infrastructure participation. Implementation will begin once these frameworks are finalized.

Pension Funds Shift from Passive to Active Investors

Oloworaran highlighted that the inauguration of PILC signals a strategic shift in the role of pension funds. Rather than being passive investors, pension funds will actively drive economic development, leveraging one of Nigeria’s largest pools of savings capital.

This transformation requires enhanced stewardship by Pension Fund Administrators (PFAs), stronger influence in corporate governance, and assertive participation in market outcomes.

Building a Resilient and Sustainable Pension Market

The overarching goal, Oloworaran explained, is to build a resilient system that works efficiently for all contributors while unlocking infrastructure investment at scale. The initiative is expected to stimulate job creation, improve productivity, and generate long-term value for pension contributors.

By mobilizing pension funds through the PILC investment consortium, Nigeria aims to bridge critical infrastructure gaps, drive economic growth, and transform the pension industry into a strategic engine for national development.

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Wale Odutola, Chief Executive Officer of ARM Holdings, says the Ministry of Finance Real Estate Investment Fund (MREIF) is transforming Nigeria’s housing market into a credible and investable asset class.

Speaking in an interview with BusinessDay, Odutola explained that the fund was designed to introduce structure, transparency, and governance into a sector long constrained by short-term financing and policy inconsistency.

He said MREIF operates as a regulated, closed-ended collective investment scheme under the Securities and Exchange Commission (SEC), with all transactions managed through independent custodians and trustees to ensure accountability.

Odutola noted that the initiative is building investor confidence by standardising mortgage-backed instruments and creating traceable housing assets with predictable income streams.

He added that the fund aligns public policy and private finance, positioning the Ministry of Finance Incorporated (MOFI) as an anchor investor to de-risk early investments and crowd in pension funds, insurance firms, and development finance institutions.

According to him, MREIF’s multi-layered structure—featuring concessionary, commercial, and hybrid tranches—offers risk protection through MOFI’s first-loss position, while independent governance frameworks safeguard investors’ interests.

Odutola said transparency remains a key differentiator for MREIF, as the fund provides full disclosure through audited reports, performance dashboards, and regulatory oversight, helping to build trust and credibility.

He added that the federal government’s reforms around fiscal discipline and asset optimisation have strengthened investor confidence, with MREIF serving as a model for future infrastructure funds in sectors such as energy, transportation, and manufacturing.

Odutola concluded that MREIF represents a long-term vision for institutional maturity in Nigeria’s financial system, showing that disciplined governance and blended finance can drive sustainable housing and economic development.

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Miller said Africa’s rise is certain but depends on strong and strategic leadership. He warned that without careful planning, the continent risks repeating past mistakes.

He criticized past global partnerships, saying many only took resources and left broken promises. He called for private sector-led investments instead of debt-driven deals.

Miller urged African countries to focus on real value, avoid unsustainable loans, and build strong infrastructure like roads, ports, and data centers.

He also highlighted Africa’s young population and rich resources, saying these could make the continent a key player in the global AI supply chain.

“This is like the Industrial Revolution,” he said. “Africa has a chance to shape its future if it acts now.”

The post Nigeria to Join World’s Top 10 Economies by 2050 — Jason Miller appeared first on Housing TV Africa.

Speaking at a ministerial briefing in Abuja, Umahi outlined the administration’s progress in road rehabilitation and construction, stating that the completed projects fall under a broader intervention initiative targeting national connectivity and economic revitalization.

The minister revealed that the completed palliative roads, valued at N208 billion, are part of a larger portfolio of 440 ongoing road projects across the country. He emphasized that these developments are aimed at enhancing transportation networks, supporting trade, and improving regional accessibility.

“These interventions are not only strategic but essential for driving economic growth and ensuring that our communities remain connected,” Umahi said.

He also disclosed that 29 major infrastructure undertakings, collectively worth over N2 trillion, are currently underway under President Bola Tinubu’s administration. Among them are four major “Legacy Projects” expected to have long-term impact on national development.

As part of activities to mark President Tinubu’s second year in office, select completed projects are scheduled for commissioning in May 2025. The Minister praised the President’s leadership, describing him as a “visionary” committed to transforming Nigeria’s infrastructure landscape.

The announcement underscores the administration’s broader push to address decades of infrastructural decay and stimulate sustainable development through public investment.

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Speaking at the 2024 Africa Investment Forum (AIF) Market Days in Rabat, Morocco, Adesina highlighted Africa’s transformative potential across multiple sectors, backed by compelling data that underscores its growing global significance.

Adesina pointed out that Africa’s food market is expected to reach $1 trillion by 2030, while infrastructure development demands at least $170 billion in annual investments. He underscored the rapid population growth, noting that by 2050, Africa’s population will double to 2.4 billion, equaling the current combined populations of China and India. This demographic explosion positions Africa as a key driver of global economic trends, with surging demand for consumer goods, digital services, and housing.

“Population is destiny,” Adesina stated. “By 2050, one in four people in the world will be African, creating unparalleled demand for products and services. The need for housing alone will transform into a $1.4 trillion investment opportunity, fueled by urbanization and demographic expansion.

Adesina highlighted Africa’s emerging dominance in the global energy transition. The continent is home to vast reserves of critical minerals essential for green technologies, including 95% of the world’s chromium, 90% of Platinum Group Metals, two-thirds of cobalt, and significant deposits of lithium, manganese, and graphite. These resources are vital for the growing electric vehicle and battery storage markets, which are projected to expand from $7 trillion in 2030 to $59 trillion by 2050.

Africa’s potential to advance from raw material supplier to a hub for value-added industries in critical minerals presents a transformative opportunity. Adesina cited the Democratic Republic of Congo’s lithium-ion battery precursor plant, which costs three times less to develop than similar facilities in the U.S., China, or Poland, as an example of Africa’s competitive edge in this sector.

The AfDB President also emphasized the continent’s attractiveness as a destination for green infrastructure investment. The Alliance for Green Infrastructure, backed by the G7 and spearheaded by the AfDB, aims to mobilize $10 billion for green projects. Adesina highlighted the bank’s innovative $750 million hybrid capital issuance, which was oversubscribed by eight times, demonstrating investor confidence in Africa’s potential.

Addressing perceptions of risk, Adesina debunked the myth that Africa is a high-risk investment destination. He cited data showing Africa’s default rate at just 1.9%, significantly lower than North America’s 6.6% and Latin America’s 10.1%. “Africa is not as risky as many think. The numbers tell a different story,” he affirmed.

The Africa Investment Forum, which aims to connect investors with opportunities, has already mobilized $180 billion in investor interest over its past five editions. Of this, $30 billion in transactions have reached financial closure, with deals worth over $15 billion originated in 2024 alone—a record-breaking achievement.

Adesina called on global investors to take advantage of Africa’s vast and diverse opportunities, urging them to support the continent’s ambition of becoming a global hub for green energy and industrial transformation. “Africa’s future is bright,” he concluded. “It is not a continent of risks but one of unmatched opportunities, and the time to invest is now.”

The AfDB remains committed to fostering sustainable development and accelerating economic growth, with initiatives that align with Africa’s long-term vision for prosperity and global relevance.

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