Tinubu Unveils $20 Billion FDI Vision, Pushes Africa-First Economic Strategy
Nigeria Sets Ambitious FDI Target
PRESIDENT Bola Ahmed Tinubu has projected that Nigeria could attract nearly $20 billion in foreign direct investment (FDI) in 2026, signalling renewed optimism around the country’s economic outlook.
Speaking at the Africa CEO Forum in Kigali, Rwanda, the President attributed the expected inflows to ongoing reforms focused on transparency, efficiency, and investor confidence.
According to him, Nigeria is already witnessing significant investor interest driven by policy adjustments designed to remove bureaucratic bottlenecks and improve the ease of doing business.
Reforms Driving Investor Confidence
The administration’s economic strategy centres on creating an investor-friendly environment, with emphasis on regulatory clarity and institutional stability.
Tinubu noted that capital inflows are highly sensitive to risk, stressing that governments must ensure predictable policies, accountability, and legal protections to attract sustained investment.
He highlighted that Nigeria’s reform agenda is aimed at unlocking value across key sectors, including energy, manufacturing, and digital infrastructure.
Call for Stronger African Economic Integration
Beyond Nigeria, the President urged African nations to deepen collaboration under the African Continental Free Trade Area framework.
He warned that the continent risks underperformance if countries continue to operate in isolation, calling for:
- Increased intra-African trade
- Greater use of local currencies
- Reduced dependence on foreign exchange systems
“Africa must move beyond rhetoric and activate its economic potential through cooperation,” he said.
Focus on Value Addition, Not Raw Exports
Tinubu strongly criticised the continued export of raw materials without processing, describing it as a missed economic opportunity.
He stressed that Nigeria—and Africa at large—must prioritise local value addition, particularly in sectors such as:
- Solid minerals
- Agriculture
- Energy
He noted that Nigeria’s mineral resources could support emerging industries like electric vehicle battery production, positioning the country within the global green economy.
Infrastructure, Energy and Digital Expansion
The President cited the success of the Dangote Refinery as evidence that large-scale industrial projects can thrive with the right policy support.
He also revealed that Nigeria is investing heavily in digital infrastructure, including the rollout of 19,000 kilometres of fibre optic cable, aimed at boosting:
- E-commerce
- Artificial intelligence adoption
- National connectivity
Towards Financial Independence and Stability
Tinubu further proposed the creation of an African credit rating agency, arguing that global agencies often misinterpret the continent’s risk profile.
He also advocated for a continental commodity exchange platform to facilitate direct trade among African nations without reliance on foreign currencies.
