Nigeria has solidified its status as a regional powerhouse in private capital investment, securing an impressive $3 billion in deals between 2020 and 2024.
According to data from the African Private Capital Association (AVCA), the figure represented 66 per cent of all deal volume and 52 per cent of total deal value in West Africa, placing Nigeria firmly at the top of the region’s investment landscape.
This achievement not only highlighted the scale of investor interest in the country but also reflected the maturity and dynamism of its investment ecosystem.
This commanding position is underpinned by a confluence of factors that continue to make Nigeria an attractive destination for global and local investors alike. These include a youthful and entrepreneurial population, a rapidly growing digital economy, and significant opportunities across key sectors such as fintech, infrastructure, healthcare, renewable energy, and agribusiness.
Additionally, reforms aimed at improving the ease of doing business, strengthening regulatory frameworks, and enhancing macroeconomic stability have further bolstered investor sentiment.
The country’s vibrant startup scene, particularly in Lagos, which is often dubbed the ‘Silicon Valley of Africa’ has also played a central role in attracting venture capital and private equity funding.
Many Nigerian-founded companies have scaled regionally or globally, delivering strong returns and reinforcing investor appetite.
The recent uptick in government and private sector collaboration, alongside efforts to deepen capital markets and enable structured exits, has created a more enabling environment for long-term capital deployment.
Nigeria’s ability to draw such a significant share of West Africa’s private capital is not just a testament to its market size, but also to the resilience and innovation of its businesses and the evolving sophistication of its investment ecosystem.
This momentum positions the country as a critical anchor for private capital flows on the continent, offering a launchpad for transformative investments that drive inclusive growth and economic diversification.
This significant milestone sets the tone for the 21st yearly AVCA conference and VC summit, which opened this week in Lagos, marking the first time in over a decade that the continent’s largest private capital gathering is returning to Nigeria.
Hosted in Lagos from April 28 to May 2, 2025, the event signals renewed investor confidence in Nigeria’s economic potential and highlights the expanding role of private capital in driving industrialisation, job creation, and innovation.
Themed “Bold Moves: Powering 10x in Africa”, this year’s conference brings together over 130 high-level participants including global investors, policymakers, development finance experts, and some of the continent’s most dynamic entrepreneurs.
The gathering offers a vital platform for exchanging strategies, forging partnerships, and unlocking long-term capital flows that can stimulate sustainable growth across Africa.
The Chief Executive Officer of AVCA, Abi Mustapha-Maduakor, underscored the importance of returning to Nigeria at this moment of economic recalibration and opportunity.
The event’s return coincides with AVCA’s recent strategic merger with the Private Equity and Venture Capital Association of Nigeria (PEVCA), a move designed to unify efforts in strengthening the private investment environment.
This merger has also ushered in new leadership, with Anna Evi-Parker appointed as AVCA’s Regional Head for West Africa to drive engagement and deepen investor networks across the subregion.
Speaking on the evolving role of Nigeria’s capital markets, Temi Popoola, Group CEO of the Nigerian Exchange Group, said the event highlights a crucial convergence between private capital and public market infrastructure.
“As Nigeria pushes to deepen its capital markets and broaden investment participation, this conference reinforces how public exchanges can serve as structured exit routes and catalysts for unlocking private equity value,” Popoola noted.
