Sweden offers to assess Nigerian projects for financing support

Sweden has invited the Nigerian Government to submit priority development projects for possible financing, guarantees, technical assistance and investment support, according to Nigeria’s Federal Ministry of Budget and Economic Planning. The ministry said the offer followed a meeting in Abuja between Nigerian officials and a Swedish delegation led by Sweden’s ambassador to Nigeria, Anna Westerholm. Proposals may be submitted through the Swedish Embassy or Business Sweden’s trade commissioner.

Westerholm said Swedish institutions would assess the proposals and direct them to organisations able to provide the form of support required. The delegation said it was prepared to coordinate across Sweden’s trade, export-financing, development and investment bodies under the “Team Sweden” model. Areas identified for possible cooperation included digital infrastructure, artificial intelligence, data centres, energy, transport, agriculture and tourism.

Swedish representatives also pointed to expertise in agribusiness, infrastructure, railways and energy. Nigeria’s Minister of Budget and Economic Planning, Abubakar Bagudu, said the engagement was timely because the country needed more bankable projects capable of attracting domestic and international capital. He described project preparation as important to closing the gap between development priorities and available financing.

Bagudu also identified the proposed National Development Finance Corporation as a possible mechanism for structuring strategic projects and providing project-preparation facilities, guarantees and other instruments. Minister of State Doris Uzoka-Anite said the government was identifying opportunities at state and local levels that could attract investment. Representatives of Sweden’s export-credit and development institutions described possible long-term financing, export guarantees, risk coverage and technical assistance.

Both sides agreed to create a practical process for identifying, preparing and presenting Nigerian projects to the appropriate Swedish institutions. The ministry did not announce financing for any specific project.