Bagudu woos Austrian investors to Nigeria – The Guardian Nigeria News

Sen. Abubakar Atiku Bagudu

Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged Austrian investors to explore Nigeria’s abundant investment opportunities, stating that President Bola Tinubu’s economic reforms have repositioned the country as a top destination for businesses seeking solid and profitable returns.

Bagudu addressed the GPF Global Vienna Meeting in Vienna, Austria, on Tuesday via a video message on “Financing Africa’s Future: The Vienna Stock Exchange as a Gateway for European Capital to Support African Government Projects”.

“We are confident that Nigeria remains a premier investment market with strong absorptive capacity, home to over 200 million people.”

According to a Ministry of Budget and Economic Planning quote, the Minister added that Austrian technology‑focused enterprises can thrive profitably in the Nigerian market.

Bagudu highlighted that Tinubu’s economic reforms—which target macroeconomic predictability and aim to boost confidence among private capital providers through the removal of remaining distortions, including in the foreign exchange market—have delivered notable gains within three years.

By establishing a rule‑based framework for the capital market, the reforms have created a more favorable environment for investors, driving a surge in confidence across sectors.

The minister confirmed that the nation’s macro-economic stabilization has further supported the reforms; the foreign exchange market has become stable with free entry and exit, and foreign reserves have risen to exceed $50 billion, covering imports for more than eleven months.

Senator Bagudu noted that the reforms have spurred remarkable revenue growth across all three tiers of government, allowing for greater service provision to citizens.

Citing the bond spread as evidence of growing confidence, Bagudu emphasized that Nigeria and Austria share comparable demographics and economic strengths, making the Wiener Stock Exchange an attractive platform for Austrian capital.

With Nigeria pursuing the ambitious goal of becoming a $1 trillion economy by 2030, the country presents a compelling opportunity for investment. Under the initiative, the Ministry of Finance, together with Austrian officials and the Wiener Stock Exchange, launched ESME Limited as a special purpose vehicle to channel funds toward high-growth sectors such as green technology, waste‑to‑energy, textiles, pharmaceuticals, agriculture, and water management in Nigeria.

President Tinubu’s administration has welcomed ESME’s progress and expresses confidence that the bond issuance will deepen business ties between Najira and Austria.

Existing investors report earnings surpassing twenty percent (in U.S. dollars), ensuring prospective partners feel satisfied with their decision to do business in Nigeria rather than pursue alternatives.

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