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Nigerian billionaire Adebayo Ogunlesi, the founder and chairman of Global Infrastructure Partners, is weighing fresh investments in Nigeria’s ports and aviation sectors as part of a broader push to expand his business footprint back home.
Ogunlesi revealed the plans after a meeting with President Bola Tinubu in Abuja, saying his team is exploring a range of opportunities in energy, infrastructure, and aviation. He offered few details but made clear that talks are ongoing.
“We’re making investments in Nigeria. We explored additional opportunities,” Ogunlesi told reporters. “I’m not going to tell you what they are. Just wait. Watch this space.”
Sectors in focus
Although he did not lay out specific figures or timelines, Ogunlesi pointed to several areas that could see new capital. In energy, he said GIP is already investing heavily in liquefied natural gas projects in Texas and Australia, describing Nigeria as “a huge gas province” with untapped potential.
He acknowledged that his companies currently operate ports in Lomé and Cotonou but have none in Nigeria. “I asked Mr. President for forgiveness, and being the gentleman that he was, he forgave me,” he said. “But he said, ‘You have to bring port investment to Nigeria.’ That’s another area we’re looking at.”
Renewable energy also ranks high on his list of priorities, with Ogunlesi noting the strong growth potential in the sector. He added that Nigeria’s next big step is to shift toward an export-driven economy. “Our President has done fundamental reform, and that reform has invited all these people you’re seeing. The next thing for us is to lead an export-led economy. The hope is on the rise,” he said.
A global career, local ties
Ogunlesi, 71, built a career that spans Wall Street and global infrastructure. After 23 years at Credit Suisse, he co-founded GIP, expanding it beyond finance into transport, natural resources, and power generation. Under his leadership, the firm grew into the world’s largest independent infrastructure manager, with more than $100 billion in assets under management.
In January 2024, BlackRock Inc. acquired GIP in a $12.5 billion deal to create a leading multi-asset infrastructure investment platform. Ogunlesi now serves on BlackRock’s board and earlier this year joined the board of OpenAI.
OpenAI, known for creating ChatGPT, has raised tens of billions of dollars and recently struck a $300 billion cloud computing deal with Oracle spread over five years. Meanwhile, GIP is in advanced talks to acquire AES Corp., a U.S. power company valued at about $40 billion, according to people familiar with the matter.
With a net worth of $2.6 billion, according to Forbes, Ogunlesi’s renewed focus on Nigeria is being watched closely by investors. His plans could boost confidence in the country’s reform efforts and strengthen trade and transport links across West Africa.
