FDI: Nigeria attracts $8.4bn as Tinubu reforms draw investors — TMSG
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FDI: Nigeria attracts $8.4bn as Tinubu reforms draw investors — TMSG
By Alabidun Shuaib AbdulRahman
The Tinubu Media Support Group, TMSG has said Nigeria attracted $8.4bn in foreign direct investment and recorded about $10bn in Final Investment Decisions since the administration of President Bola Tinubu assumed office in 2023.
The group attributed the development to what it described as the pro-business orientation of the administration, saying the figures indicated growing investor confidence in the Nigerian economy.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG said foreign investments had faced setbacks in the years preceding Tinubu’s administration because of currency controls, global economic shocks and macroeconomic uncertainties.
The group said data from the United Nations Trade and Development showed that Nigeria recorded about $8.39bn in FDI between 2022 and 2025.
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It put the annual inflows at $895m in 2022, $1.873bn in 2023, $1.614bn in 2024 and $4.005bn in 2025.
TMSG argued that the 2025 figure represented nearly half of the total FDI recorded over the four-year period.
The group said, “This is strong proof of a sure and steady improvement in capital importation on the watch of President Tinubu and we dare say that the 2025 inflow alone which represents nearly half of the $8.3bn recorded in four years is a testament to his pro-business approach to governance.”
It also pointed to investment commitments in the oil and gas sector, saying International Oil Companies had taken Final Investment Decisions worth more than $10bn following reforms in the upstream petroleum sector.
According to the group, the reforms had also reduced contracting timelines by more than 50 per cent.
TMSG further claimed that Nigeria’s gross foreign exchange reserves had risen to $54.61bn as of September 2026, representing an increase of about $12.76bn since 2023.
It said the reserve position was the highest in 17 years and had contributed to favourable assessments of Nigeria’s external liquidity position by international credit rating agencies.
The group, however, acknowledged that improvements in macroeconomic indicators had yet to fully translate into microeconomic stability for Nigerians.
“While we acknowledge that the positive macroeconomic indicators have not so far reflected much in microeconomic stability, we are, however, convinced that the President Tinubu administration is not resting on its oars,” it said.
TMSG urged Nigerians to maintain confidence in the ongoing economic reforms, arguing that reversing them could affect the gains recorded so far.
