Nigeria Eyes $20bn FDI in 2026 as Tinubu Courts Investors in Kigali.

President Bola Tinubu says Nigeria could attract nearly $20 billion in foreign direct investment in 2026, as his administration pushes reforms to open the economy to investors.

Tinubu made the projection on Thursday at the Africa CEO Forum in Kigali, Rwanda. He said Nigeria had started removing regulatory barriers, improving macroeconomic stability, and creating clearer rules for investors.

Tinubu Links Reforms to Investor Confidence

The President said that foreign investors need a predictable business environment before committing capital. He argued that Nigeria’s reform agenda now gives investors stronger reasons to consider the country.

“This year alone, I can beat my chest that Nigeria is attracting close to $20 billion in foreign direct investments,” Tinubu said at the forum.

He said his government had focused on removing bottlenecks that slow down investment. According to him, transparency, accountability, and stable policy direction will help Nigeria compete for global capital.

Nigeria Wants More Value From Its Resources

Tinubu also used the platform to call for a shift in how Africa handles its natural resources. He said the continent must stop exporting raw materials cheaply and importing finished products at higher prices.

For Nigeria, he said the government now wants more value addition before minerals leave the country. He argued that resources such as metals and rare earth minerals should support local production, industrial growth, and capital raising.

The President said Nigeria could leverage its mineral resources to produce products such as car batteries rather than simply exporting raw materials.

Dangote Refinery as a Private Sector Example

Tinubu pointed to the Dangote Petroleum Refinery as an example of what government and private capital can achieve together.

He said a country with more than 200 million people needed a strong domestic refining capacity. He added that the government supported the project by creating the right conditions for crude supply, licensing, and trade.

The President said the refinery now exports petroleum products, including petrol and aviation fuel. He also defended the decision to supply crude to domestic refiners in naira, saying it reduces pressure from exchange rate instability.

Tax, Agriculture and Infrastructure

Tinubu said Nigeria’s tax reforms aim to make payment easier and clearer for citizens and businesses. He said people can now file their own tax returns and pay taxes through digital platforms.

He also highlighted agriculture and infrastructure as key parts of Nigeria’s investment story. He mentioned mechanised agricultural zones, farmer support programmes, storage systems, and the Sokoto-Badagry highway as projects that can improve food movement and trade.

On digital infrastructure, Tinubu said Nigeria had laid more than 90,000 kilometres of fibre optic network. He said this would help farmers, traders, students, and businesses connect better with the digital economy.

Why It Matters

Tinubu’s $20 billion FDI projection sends a strong signal to investors. But the real test will come from execution.

Nigeria still needs stable policies, cheaper energy, better security, lower inflation, and stronger investor protection. Without these, big announcements may not translate into actual capital inflows.

Still, the message from Kigali was clear: Nigeria wants to sell itself as a reforming economy, not just a resource-rich market. If the government turns its promises into measurable progress, the country could strengthen its case as one of Africa’s most important investment destinations.

Expert View

Nigeria’s investment pitch is improving, but investors will judge results, not speeches. The $20 billion target can attract attention, but capital will follow only if reforms reduce risk. Policy consistency, currency stability, power supply, and regulatory clarity will decide whether Nigeria turns investor interest into real inflows.

FAQ

What did Tinubu say about FDI in 2026?
Tinubu said Nigeria is on course to attract close to $20 billion in foreign direct investment in 2026.

Where did Tinubu make the statement?
He spoke at the Africa CEO Forum in Kigali, Rwanda.

Why does Tinubu believe Nigeria can attract more investment?
He cited regulatory reforms, macroeconomic stabilisation, transparency, and efforts to remove investment bottlenecks.

What sectors did Tinubu highlight?
He highlighted energy, mining, agriculture, infrastructure, digital technology, taxation, and local manufacturing.