By Elvis Eromosele
Afrinvest has, over the last three decades, carved a niche for itself as a trailblazer in Africa’s investment landscape. With a reputation for driving impact, shaping policy, and delivering cutting-edge solutions to the Nigerian economy and indeed across Africa, the firm has consistently demonstrated vision and leadership. It is therefore fitting that as Afrinvest marks its 30th anniversary, the celebrations are anchored on high-level conversations with key players across critical sectors of the economy.
The milestone event not only commemorates Afrinvest’s remarkable journey but also sets the stage for the unveiling of the 2025 Banking Sector Report (BSR) themed “ACT-BOLD: Turbocharging Nigeria to a New Growth Frontier.” This forward-looking theme underscores the company’s enduring commitment to charting a path for sustainable economic growth and renewed prosperity.
The panel discussion, which drew from experiences across manufacturing, technology, finance, and infrastructure, revealed a common thread: the urgent need for trust, policy consistency, talent development, and regulatory innovation to unlock Nigeria’s full potential.
Rahul Somani, Tolaram Group’s Chief Financial Officer, highlighted the company’s long-standing investments in Nigeria’s manufacturing value chain, from farm to home. He stressed the “Triple A” principle – Acceptability, Accessibility, and Availability – as key drivers of growth in consumer markets.
“Policy must be consistent,” he cautioned. “With forex volatility and inflation, manufacturers struggle to remain competitive. Unless the government takes control of these challenges, we will not be able to compete effectively.”
His remarks underscored the importance of stability, not just in policy but across the entire production ecosystem. Without it, the goal of scaling up manufacturing to serve Nigeria’s 200+ million people and beyond will remain elusive.
Amal Hassan, Chief Executive Officer of Outsource Global, spoke passionately about Nigeria’s reputation for producing world-class talent. “The global community recognises the incredible talent we have,” she said. “Our people are trainable, resilient, and tenacious.”
But she was quick to identify the missing link – trust. According to her, “Globally, people are looking for whom to trust. Nigerians are capable, but they need systems that can hold their hands, vouch for them, and build credibility through recommendations and references.”
Her prescription was clear: build structures that ensure employability, trustworthiness, and connectivity between talent and opportunities. She added three key pillars for transformation:
- Upskilling Nigerians based on market needs.
- Linkages that connect trained individuals to jobs, both local and global.
- Infrastructure support, power, laptops, and reliable internet, to allow talent to serve international markets effectively.
Iyinoluwa Aboyeji, serial entrepreneur and Co-founder of Andela and Flutterwave, emphasised that Nigeria’s innovation ecosystem is gradually aligning with global standards. However, he warned that innovation will always outpace regulation, urging regulators to rethink their approaches.
“Our regulators are abreast of regulation, but they need to expand their talent pool,” he noted. “Bringing in experts with deep know-how will allow them to better anticipate trends. Sandboxing is one way to bridge the gap.”
He stressed that regulators must recognise the borderless nature of today’s economy. Talent and capital move fluidly across borders, and Nigeria cannot afford to regulate in isolation.
From the infrastructure perspective, Edu Okeke of Azura Power West Africa, called for policy consistency, particularly in projects that stretch over decades. “When you’re building infrastructure, risk must be properly apportioned,” he explained. “Sovereign guarantees, forex stability, and long-term clarity are crucial.”
He also cautioned against Nigeria’s “addiction” to subsidies and cheap foreign exchange. “Ultimately, the consumer has to pay,” he said, pointing out that cost-reflective pricing is essential for sustainability, especially in the power sector.
On the broader economic landscape, Okeke argued that Nigeria has yet to fully unleash the power of its private sector. “Every business is out to make money, while regulators are focused on the common good. For us to become a trillion-dollar economy, both sides must work together in harmony.”
The panelists agreed that Nigeria’s ambition of reaching a $1 trillion GDP in the near term and a $3 trillion economy in the long run requires massive investment, regulatory foresight, and deliberate talent development.
Aboyeji highlighted a major gap: the short-term outlook of many local investors compared to their global counterparts. “We need patient capital if we are serious about building enduring companies that can compete globally,” he said.
The Afrinvest @30 panel concluded with a consensus that Nigeria’s future is promising but requires intentional action. To drive growth across sectors, the country must do five things:
- Ensure policy stability to boost investor confidence.
- Invest in upskilling and infrastructure to empower talent.
- Build trust frameworks to strengthen Nigeria’s global reputation.
- Encourage public-private collaboration to accelerate infrastructure and industrial growth.
- Reform regulatory systems to adapt to a borderless digital economy.
At 30, Afrinvest has earned its place as a trusted partner in Nigeria’s economic story. As the panel showed, the next decade presents both challenges and opportunities. With the right mix of talent, trust, and consistent policy, Nigeria can chart a course toward becoming not just a trillion-dollar economy, but a globally respected one.
The session was moderated by the astute Rolake Akinkugbe-Filani, Global Energy Finance Leader, Professional Anchor (Business, Economics & Markets) and Founding CEO EnergyInc Advisors.
Eromosele, a corporate communication professional and sustainability reporting enthusiast, wrote via elviseroms@gmail.com
