Nigeria Set to Attract $20bn Foreign Investments in 2026 — Tinubu Declares at Africa CEO Forum
President Bola Tinubu has projected that Nigeria could attract nearly $20 billion in foreign direct investments (FDI) in 2026, signaling growing investor confidence in the country’s economy. Speaking at the ongoing Africa CEO Forum in Kigali on Thursday, the president said recent reforms aimed at improving transparency, efficiency and ease of doing business are beginning to yield positive results.
Tinubu expressed confidence in the country’s investment outlook, stating that his administration has removed major bottlenecks that previously discouraged foreign investors. According to him, policies introduced by the federal government are creating a more attractive environment for international businesses looking to invest in Nigeria’s key sectors, particularly energy, infrastructure and manufacturing.
The president’s projection comes shortly after the federal government approved incentives to support major oil and gas investments, including a production tax credit linked to Shell’s planned $20 billion deepwater project. In addition, the Nigerian Upstream Petroleum Regulatory Commission had earlier disclosed that oil field development projects worth nearly $20 billion received final investment approvals between January and October 2025.
Beyond Nigeria, Tinubu called on African nations to strengthen economic collaboration and fully activate the African Continental Free Trade framework. He urged leaders across the continent to move away from isolated economic strategies and instead focus on partnerships that will help Africa maximize its vast natural and economic resources. The president emphasized his administration’s “Nigeria First” policy while also promoting an “Africa First” vision built on regional cooperation and value addition.
Tinubu also proposed the creation of a continental commodity exchange platform that would allow African countries to trade resources directly among themselves. Speaking on energy security, he noted that the establishment of the Dangote Refinery played a critical role in stabilizing Nigeria amid tensions in the Middle East, adding that the refinery has become vital to supporting the needs of the country’s over 200 million population.
source: The cable