Nigerian-American billionaire Ogunlesi eyes mega energy, aviation, port investments in Africa

Following a high-level meeting with President Bola Tinubu in Abuja, Nigerian-born global investor Adebayo Ogunlesi has expressed renewed confidence in the country’s economic reforms, indicating potential new investments across key sectors.

Speaking to journalists after the closed-door meeting, Ogunlesi praised the sweeping policy changes under Tinubu’s administration, including the removal of subsidies, tax reforms, and the revival of a refinery that is already exporting aviation fuel.

“We had an excellent meeting where we discussed how to put Nigeria front and center for international investment.

“The President was very encouraging, and we shared useful suggestions on driving economic growth,” Ogunlesi said.

Although he declined to reveal specific details, Ogunlesi confirmed that his firm is actively investing in Nigeria and assessing new opportunities.

“Watch this space. Nigeria is not yet the most exciting investment destination, but that’s what we are working on,” he teased.

Pressed on the sectors of interest, Ogunlesi highlighted energy, gas, aviation, ports, and renewables. Drawing on his firm’s experience with LNG projects in Texas and Australia, he noted Nigeria’s massive untapped gas reserves.

On aviation, he acknowledged his reputation as “the guy who bought Gatwick Airport” and signaled interest in similar ventures locally. He also admitted that one of his companies operates ports in Cotonou and Lomé, but none in Nigeria, a point Tinubu reportedly challenged him on.

“He forgave me but said, ‘you have to bring port investment to Nigeria,’” Ogunlesi recounted with a smile.

“When Nigerians at home and abroad invest in Nigeria, it sends a strong signal to the world,” he said, lauding Tinubu’s policies for making the country “investable.”

Echoing similar optimism, Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, described the reforms as the foundation for an export-led economy.

“We’ve done the fundamentals, and now it is time to deliver growth,” he said.

With global players signaling confidence, the momentum for Nigeria’s economic repositioning appears to be gaining ground, setting the stage for transformative investments in key industries.