Quote from admin on May 15, 2026, 7:22 am

President Bola Ahmed Tinubu, speaking at the Africa CEO Forum in Kigali, Rwanda, announced that Nigeria is on track to attract over $20 billion in Foreign Direct Investment (FDI) by the end of 2026. The President attributed this surge to his administration’s “aggressive” economic reforms, including the unification of the exchange rate and the removal of the fuel subsidy, which he claims have restored investor confidence.

Tinubu emphasized that Nigeria is no longer “working in silos” but is now actively collaborating with regional partners to utilize its vast resources effectively. He noted that the “execution phase” of his economic agenda is yielding results in sectors such as deepwater oil, solid minerals, and the digital economy. The President urged African business leaders to see Nigeria as the continent’s primary hub for private sector growth.

Critics, however, remain cautious, pointing to the high inflation rate and the rising cost of living as immediate challenges that FDI has yet to solve for the average citizen. In response, the Presidency maintained that these investments are long-term plays that will eventually lead to massive job creation and infrastructure development. Tinubu’s address at the forum was seen as a strategic move to position Nigeria as the leading destination for capital in sub-Saharan Africa.

The Africa CEO Forum, which concludes today, has seen Nigeria sign several preliminary trade agreements with international conglomerates. The President is expected back in Abuja this weekend to oversee the implementation of some of the bilateral commitments reached during the trip.

https://punchng.com/nigeria-attracting-20bn-fdi-in-2026-says-tinubu/