A pro-government political organization, the Tinubu Media Support Group (TMSG), has credited the rising inflow of foreign capital into Nigeria to the business-friendly policy direction of President Bola Tinubu since taking office in 2023.
In a joint statement issued by TMSG Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, the group pointed to official economic metrics showing significant gains in Foreign Direct Investment (FDI), capital commitments, and foreign exchange reserves.
The group noted that prior to 2023, foreign capital flows had been severely hampered by strict currency controls, macroeconomic instability, and global economic shocks following the COVID-19 pandemic.
Citing data from the United Nations Conference on Trade and Development Agency (UNCTAD), the group highlighted that Nigeria recorded $8.39bn (£6.25bn) in total FDI between 2022 and 2025, with annual inflows rising from $895m in 2022 to $4.005bn in 2025.
Key economic indicators highlighted in the statement include:
- Foreign Direct Investment: The $4bn recorded in 2025 alone accounts for nearly half of all foreign direct investment brought into Nigeria over the four years.
- Energy Sector Capital: Upstream petroleum reforms and streamlined contracting timelines have unlocked more than $10bn in Final Investment Decisions (FIDs) from International Oil Companies.
- External Reserves: Gross foreign exchange reserves grew to $54.61bn by September 2026—a 17-year high that has earned improved outlooks from global credit rating agencies.
While acknowledging that microeconomic pressures remain for ordinary citizens, TMSG urged the public to support ongoing structural reforms, warning that reversing policy shifts would jeopardize recent economic recovery.
Add Comment