BOI, IFC partner on Abuja Conference and Exhibition Arena project

Business

LAGOS, Nigeria (NPA) — Bank of Industry has signed a cooperation agreement with the International Finance Corporation (IFC) to advance the development of the Abuja Conference and Exhibition Arena (ACE Arena), a proposed world-class conference and exhibition facility in Nigeria’s capital city.

The multimillion-dollar project, conceived under a Public-Private Partnership (PPP) framework, is expected to strengthen tourism, create jobs, attract private sector investment and unlock long-term economic opportunities in Nigeria.

According to BOI, the partnership will see IFC provide advisory support for the project’s early-stage development, helping to establish infrastructure that meets international standards of quality, sustainability and global competitiveness.

The development finance institution stated that the ACE Arena project is part of broader efforts to position Abuja as a major destination for international conferences, exhibitions and business events.

BOI noted that the collaboration reflects its commitment to supporting transformative infrastructure projects capable of stimulating economic growth and enhancing Nigeria’s global economic profile.

The bank added that the proposed arena is expected to serve as a strategic platform for investment promotion, business networking and international engagements, while also supporting growth in the hospitality and tourism sectors.