President Bola Tinubu projects that Nigeria will attract close to $20 billion in foreign direct investments (FDI) in 2026 due to transparency, efficiency, and openness.
Tinubu spoke on Thursday during the Africa CEO Forum ongoing
in Kigali, Rwanda.
“This year alone, I can beat my chest that Nigeria is
attracting close to $20 billion in foreign direct investment,” he said.
The president said he has put in place incentives necessary
to attract investments into Nigeria and removed bottlenecks discouraging
investors.
Tinubu’s projection comes two months after he approved a
production tax credit to fast-track Shell’s $20 billion final investment
decision (FID) in deepwater project.
Also, in November 2025, the Nigerian Upstream Petroleum
Regulatory Commission (NUPRC) announced that the government approved oil field
development plans (FIDs) worth about $20 billion between January and October
last year.
Speaking further, Tinubu advised African nations to put
their money where their mouth is and collaborate with each other for effective
utilisation of the continent’s resources.
“Luckily, we have an African trade agreement that should not
be left on the drawing board, but should be activated properly (for) regional
collaboration and effective utilisation of our resources,” he said.
“Not walking in silos, but in collaboration with one
another, using what we have. To me, I believe in ‘Africa First’, because I have
started ‘Nigeria First’.
“Today, we don’t want scavengers, we don’t want extractors,
we want people to add value. If you are an investor, we will encourage you to
add value to what we have as a nation.”
Tinubu also suggested that African countries develop an
exchange trading platform that will enable the 54 countries on the continent to
trade their resources among themselves.
“Look around the entire continent, 54 countries. There’s
none of us without a particular commodity available. Why not start an exchange
commodity platform, where we can trade with one another?” the president said.
Speaking on Nigeria’s survival amid the Middle East
conflict, Tinubu said if Dangote refinery had not been established, the country
would not have survived in peace due to its over 200 million population.
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