The Federal Government has disclosed that plans are afoot to present the numerous country’s economic blueprint achievements realised under the President Bola Tinubu administration’s economic reform agenda and Renewed Hope Agenda to international investors and financiers at this month’s United Nations General Assembly (UNGA) meeting in New York, USA, to give more investment opportunities and capital flows into Nigeria.
Minister for Industry, Trade and Investment, Dr Jumoke Oduwole, made this known in her address titled: Unlocking Africa’s Giant: Nigeria as the Next Frontier for Global Investment,” during the Lagos Chamber of Commerce and Industry (LCCI)’s Invest Nigeria Conference & Expo 4.0 in Lagos on Tuesday.
The Minister explained that President Tinubu’s administration’s economic reforms implemented in the last two years to rescue Nigeria’s economy from going into the doldrums are now a game changer that has resulted in stronger businesses, greater investments and the creation of more jobs.
Specifically, Dr Oduwole pointed out that these blueprint achievement scorecards are already showing important signs in the movement of capital flows into Nigeria by private capital portfolio investors arising from portfolio investments, greater stability in the foreign exchange market, attracting yields and growing confidence in macroeconomic policies.
According to her, “Nigeria’s capital importation stood at approximately $4 billion in 2023 and rose to $12 billion in 2024. This is approximately $23 billion in 2025. And in the first quarter of 2026 alone, Nigeria attracted a further $10 billion. Most of this recovery has been led by portfolio investments that are responding to greater stability in the foreign exchange market, attracting yields and growing confidence in macroeconomic policy.”
She also noted that “On the margins of the United Nations General Assembly in New York later this month, we are going to present a select number of these achievements recorded under Mr President’s embarked economic reforms to international investors and financiers.
“Our virtual deals would give serious investors structured access to better Nigeria’s opportunities, while the digital investment portal would provide a clear entry point into Nigeria’s investment environment for these foreign investors and financiers to come and invest in Nigeria.”
Speaking on the country’s economic reform agenda of President Tinubu, Dr Oduwole stated, “The last two years have shown the direction of the government’s significant economic reform, while businesses have been having challenges with difficulty in the operating environment at times, while continuing to invest, employ, and serve their markets.
“As the reform still holds on the macroeconomic condition, the focus is increasingly on how these gains are translated across the conduits into stronger businesses, greater investments and more jobs. We are already seeing important signs of the transmission and the movement of capital into Nigeria.”
She added, “However, we need more of it moving into factories, infrastructure, processing capacity, and businesses that can grow, employ and export. We are beginning to see that movement. At the end of 2024, the FMITI tracked approximately $15 billion in major investment firms arising from Mr President’s trips and state visits abroad. I am pleased to announce today that over $13 billion, more than 25 per cent of those commitments are now moving into full or partial disbursement or implementation. Indorama is a strong example. Canex has already deployed about $2 billion in Nigeria, and the company recently announced a further $10 billion investment in its petrochemicals and fertiliser operations. As it works towards an $8 billion investment ambition in the country.”
The FMITI Minister explained, “The wider pipeline includes major power, transport, creative and technology investment. As this capital is deployed, FMITI would continue to track the investments’ implementation as we expect increasingly feasible and measurable economic impacts channelled to new capacity, stronger supply chain, quality jobs and export. Foreign capital is only part of the investment story, however. Nigeria’s investors have continued to make significant long-term commitments to this economy.
“The Dangote Refinery is perhaps the most visible demonstration of Nigeria’s private capital operating at scale.
“Last year also saw USD approximately $180 million of Chi Limited. An approximately $500 million of Heirs Energy and Heirs Holdings, of about a 20 per cent stake in Seplat Energy. Dangote Cement alone reported more than 20,000 employees in 2024, illustrating the employment that productive investments can support. Our ministry is also creating stronger channels for institutional capital to reach Nigeria’s status and SMEs, which many large investors cannot efficiently underwrite in their journey. So, Bank of Industry and FMITI, we are enabling Anchor investments into professionally managed vehicles that can aggregate this capital and invest it at scale, including the $107 million Hyundai funds managed by Kuramo Capital Management. While also contributing to Venture Capital’s recent $84 million funds.
“While the direction of capital flows is encouraging, a significant portion of the FDI would depend on the conditions that enable investments to stay competitive. “Reliable power, efficient transportation and logistics, security of physical assets, foreign exchange stability and market access are all going to shape long-term investment decisions. These are essential to the government’s investment agenda.”
