By Peter Omopo
Nigeria has between $1 trillion and $1.5 trillion in stranded, abandoned and underutilised capital across its public and private sectors, the Foundation for Peace Professionals (PeacePro) has said, describing the figure as one of the largest pools of dormant economic value on the continent.
According to the organisation, research reviewed by the group shows that as much as $900 billion may be tied up as dead capital in residential real estate and agricultural land. It also cited estimates of tens of thousands of abandoned buildings owned by federal, state and local governments, valued at about ₦9.5 trillion.
Industry assessments referenced by the group indicate that more than 56,000 abandoned projects across sectors, including roads, public buildings and housing estates, are collectively valued at between ₦12 trillion and ₦17 trillion. This excludes billions of naira invested in abandoned or incomplete power infrastructure projects.
In a statement issued over the weekend, PeacePro Executive Director Abdulrazaq Hamzat described the situation as a “silent economic emergency,” arguing that Nigeria’s growth constraints stem less from lack of resources and more from the failure to activate existing assets.
The organisation’s analysis suggests that the estimated $1.5 trillion in stranded capital cuts across critical sectors such as energy infrastructure, transportation assets, housing and real estate, industrial and manufacturing facilities, closed factories and moribund industrial clusters, as well as public infrastructure projects stalled due to funding gaps or policy changes.
Hamzat noted that the upper estimate is more than five times Nigeria’s nominal Gross Domestic Product, currently put at about $285 billion, highlighting the scale of untapped economic capacity.
“Nigeria is not a poor country. Nigeria is a poorly activated economy,” he said. “The issue is not absence of capital, but immobilised capital.”
PeacePro stated that unlocking even 30 to 40 per cent of dormant assets could generate economic output equivalent to multiple years of current GDP. It added that such activation could create millions of direct and indirect jobs, reduce reliance on borrowing, strengthen local production capacity, improve energy supply and industrial output, and stabilise vulnerable communities through economic inclusion.
Hamzat explained that Nigeria’s installed power generation capacity exceeds what is reliably transmitted, leaving significant investments underutilised. He also pointed to thousands of kilometres of partially completed roads that reduce trade efficiency and raise transport costs, as well as large-scale housing projects that remain unoccupied due to weak mortgage systems and land documentation challenges.
“These are not hypothetical losses; they are capital already paid for but not producing value,” he said.
The organisation identified structural and governance weaknesses as major drivers of dead capital accumulation. These include politicisation of infrastructure investment, poor feasibility studies and demand forecasting, weak land administration systems, regulatory bottlenecks, project abandonment after leadership transitions, inadequate legislative oversight, poor maintenance culture and weak coordination between federal and state institutions.
Hamzat warned that abandoned projects erode public trust, increase fiscal waste and deepen inequality.
PeacePro stressed that unlocking stranded capital is not only an economic reform priority but also a national stability strategy. It argued that idle infrastructure contributes to youth unemployment, rural-urban migration pressures, crime and insecurity, community resentment and investor hesitation.
“When infrastructure stands idle, frustration grows. When assets generate value, stability increases,” Hamzat said.
The group called for an urgent national strategy anchored on a comprehensive audit of dormant and underperforming assets, conversion of abandoned projects into public-private partnerships, creation of a transparent asset registry and valuation system, land reforms and digital documentation, prioritisation of infrastructure completion based on economic returns, legislative safeguards against politically motivated project abandonment and dedicated maintenance funding frameworks.
“Nigeria does not need to borrow its way to prosperity while trillions in value lie unused,” Hamzat added.
PeacePro concluded that unlocking stranded capital should become a national economic priority, describing it as one of the fastest pathways to restoring Nigeria’s growth momentum and strengthening its global competitiveness.
