Chidimma Uchegbu, Abuja
The Federal Government of Nigeria and the Government of Sweden have reaffirmed their commitment to deepening bilateral economic cooperation, with particular emphasis on project preparation, infrastructure development, investment mobilisation, digital infrastructure, financing and private-sector participation.
The commitment was reaffirmed at a high-level meeting between the Federal Ministry of Budget and Economic Planning and a Swedish delegation, led by the Swedish Ambassador to Nigeria, Ms Anna Westerholm.
Welcoming the Swedish delegation to the Ministry in Abuja on Tuesday, Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, expressed appreciation for Sweden’s continued engagement with Nigeria, particularly its technical support for project preparation.
Senator Bagudu said the engagement was timely as Nigeria advances the implementation of its development priorities and seeks to strengthen its capacity to prepare bankable projects capable of attracting domestic and international investment.
He emphasised that project preparation remains critical to bridging the gap between development priorities and available financing, noting that well-prepared, properly structured projects are essential to mobilising private and institutional capital.
The Minister also highlighted the proposed National Development Finance Corporation as an important mechanism for strengthening Nigeria’s capacity to develop, structure and finance strategic projects through project-preparation facilities, guarantees and other financing instruments.
Senator Bagudu identified digital infrastructure and telecommunications as key areas for enhanced cooperation with Sweden, highlighting opportunities in data centres, artificial intelligence, technology development and digital skills.
He also highlighted Nigeria’s large, youthful population as a significant asset for developing digital talent and for strengthening the country’s position in the global digital economy.
The Minister also highlighted investment opportunities at the subnational and local levels, noting that Nigeria has mapped economic opportunities across its wards to identify local drivers of prosperity, challenges, and areas with investment potential.
According to him, opportunities exist across infrastructure, transport, agriculture, tourism and other productive sectors, with the country’s 36 states offering further opportunities for developing projects capable of attracting private and institutional capital.
Senator Bagudu also emphasised the importance of sustaining Nigeria’s economic reforms and strengthening investor confidence, particularly as the country seeks to mobilise long-term domestic and international investment.
Speaking at the engagement, Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, highlighted significant investment opportunities across Nigeria’s 36 states and their diverse economic ecosystems.
Dr Uzoka-Anite said the Federal Government is working to identify investment opportunities at the subnational level and to encourage states to develop projects that can attract domestic and international capital.
She identified tourism as one of the areas with considerable potential, noting that Nigeria’s federal structure offers states opportunities to develop projects based on their respective economic strengths, resources and comparative advantages.
The Minister of State explained that the Federal Government is focused on identifying opportunities to absorb capital, developing suitable projects, and using the budget system strategically to de-risk investments and build greater confidence among private-sector investors.
She noted that Nigeria’s ambition to build a $1 trillion economy requires effectively mobilising investment opportunities across the country, including at the state and local levels.
Dr Uzoka-Anite emphasised the importance of ongoing collaboration with development and investment partners to identify viable opportunities, structure projects appropriately, and create the conditions necessary to attract capital.
Speaking during the engagement, Ambassador Anna Westerholm recalled the opening of the Swedish Trade Office in Lagos in April 2025, calling it an important milestone in Nigeria-Sweden relations.
The Ambassador noted that Sweden remains committed to supporting Nigeria through the coordinated “Team Sweden” approach, which brings together Swedish institutions with expertise in trade promotion, export financing, guarantees, development cooperation and investment mobilisation.
Ambassador Westerholm explained that the Team Sweden model enables Sweden to provide appropriate support at different stages of the project development and investment cycle.
She invited the Nigerian Government to submit priority project proposals through the Swedish Embassy or through the Trade Commissioner to Nigeria at Business Sweden, Mrs Marlena Batist Hager, and assured that the proposals would be directed to the appropriate Swedish institution for consideration.
Speaking on behalf of the Swedish Export Credit Agency (EKN), Ms Katarina Hirsch (Senior Underwriter, Infrastructure and Telecom) highlighted the agency’s capacity to provide export guarantees and risk coverage to support Swedish exports and participation in strategic projects in Nigeria.
Ms Hirsch noted Swedish expertise across sectors including agribusiness, energy, infrastructure, transport and railways, emphasising the importance of early project preparation and financial structuring to make projects bankable.
Representing the Swedish Export Credit Corporation (SEK), Ms Ida Littorin (Director Origination and Strategic Partnerships) explained that the institution provides long-term financing solutions as part of Sweden’s export-credit system and works closely with international and commercial banks to structure financing for viable projects.
Ms Littorin stressed that project bankability and appropriate financial structuring are essential to unlocking financing for major development projects.
Representing the Swedish International Development Cooperation Agency (SIDA), Mr Maximilian Jonsson (Infrastructure Finance Manager) expressed interest in exploring opportunities for technical assistance, infrastructure financing, institutional strengthening and mobilising private capital.
Mr Jonsson described the engagement as an opportunity to deepen understanding of Nigeria’s infrastructure priorities and to identify areas where Swedish development cooperation could provide additional support.
The delegation also included Ms Ellen Hahne (Head of Political and Trade Affairs at the Embassy of Sweden), Mr Adebayo Shodunke (Project Manager, Business Sweden), and Ms Aisha Hassan Mshelia (Girl Ambassador), who contributed to discussions on bilateral relations and project delivery.
The meeting highlighted opportunities to strengthen cooperation across digital infrastructure, artificial intelligence, data centres, energy, transport, agriculture, tourism and other strategic sectors.
Both sides agreed on the importance of maintaining continuous engagement and of developing a practical mechanism to identify, prepare, and present priority Nigerian projects to Team Sweden.
The Swedish delegation expressed readiness to analyse project proposals submitted by the Nigerian Government and to coordinate internally to ensure that each proposal reaches the Swedish institution best suited to provide the required financing, guarantee, technical assistance or investment support.
The engagement therefore provides a framework for advancing priority projects from identification and preparation through bankability, financing and implementation, while strengthening the broader economic partnership between Nigeria and Sweden.
The Federal Ministry of Budget and Economic Planning and the Swedish delegation reaffirmed their commitment to ongoing dialogue and collaboration to translate shared priorities into tangible investment and outcomes for both countries.
For a better society
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