Increasing Foreign Investors’ Interest in Nigeria, Testament to Tinubu’s Pro-Business Mindset — TMSG By Raymond Enoch
The Tinubu Media Support Group (TMSG) has described the growing interest of foreign investors in Nigeria as a reflection of President Bola Tinubu’s pro-business approach to economic governance since assuming office in 2023.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group said recent official figures indicated that Nigeria had recorded about $8.4 billion in Foreign Direct Investment (FDI) inflows, alongside approximately $10 billion in Final Investment Decisions (FID) in the oil and gas sector.
TMSG said the development represented a significant improvement from the period preceding the Tinubu administration, when foreign investment inflows experienced a prolonged decline amid currency controls, global economic shocks and macroeconomic uncertainties.
“Until President Bola Tinubu assumed office in 2023, there had been a gradual decline in foreign direct investments and foreign reserves from 2012, reaching an alarming level in 2020, understandably as a result of COVID-19, before it began to pick up again,” the group said.
It noted that data from the United Nations Trade and Development (UNCTAD) showed that Nigeria attracted about $8.39 billion in FDI between 2022 and 2025.
According to the figures cited by TMSG, Nigeria received $895 million in FDI in 2022, $1.873 billion in 2023, about $1.614 billion in 2024 and $4.005 billion in 2025.
The group described the figures as evidence of an improvement in capital inflows, particularly highlighting the 2025 figure, which it said accounted for nearly half of the total FDI recorded over the four-year period.
“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 $8.3 billion recorded in four years, is a testament to his pro-business approach to governance,” TMSG stated.
The group also drew attention to increased investment commitments in Nigeria’s oil and gas industry, saying international oil companies (IOCs) had taken Final Investment Decisions on projects valued at more than $10 billion following reforms in the upstream sector.
It attributed the development partly to measures aimed at improving the investment environment, including reforms that have reportedly reduced contracting timelines by more than 50 per cent.
TMSG further said Nigeria’s gross foreign exchange reserves had risen by about $12.76 billion year-on-year to $54.61 billion as of September 2026.
According to the group, the level represents the highest foreign reserves recorded by the country in 17 years, adding that the improvement in external liquidity had featured in assessments by major international credit rating agencies.
The group, however, acknowledged that improvements in macroeconomic indicators had yet to translate fully into microeconomic stability for many 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 remain patient with the ongoing economic reforms, arguing that the country’s economy was beginning to move into a different phase under the Tinubu administration.
It also warned that reversing the current reform programme could undermine the gains recorded so far and create additional economic difficulties for the country.
