President Bola Ahmed Tinubu has projected that Nigeria will attract nearly $20 billion in foreign direct investments in 2026, attributing the anticipated inflow to ongoing reforms aimed at promoting transparency, efficiency and openness in the economy.
Tinubu made the projection on Thursday while speaking at the Africa CEO Forum in Kigali, Rwanda.
“This year alone, I can beat my chest that Nigeria is attracting close to $20 billion in foreign direct investment,” the President said.
According to him, his administration has introduced incentives designed to attract investors while removing bureaucratic bottlenecks that previously discouraged investment in the country.
Tinubu’s projection comes barely two months after he approved a production tax credit aimed at accelerating Shell’s $20 billion final investment decision on a deepwater oil project.
Similarly, the Nigerian Upstream Petroleum Regulatory Commission had announced in November 2025 that the Federal Government approved oil field development plans valued at about $20 billion between January and October of the same year.
Speaking further at the forum, Tinubu urged African nations to strengthen regional collaboration and maximise the continent’s resources through effective partnerships.
“Luckily, we have an African trade agreement that should not remain on the drawing board but should be properly activated for regional collaboration and effective utilisation of our resources,” he said.
“Not walking in silos, but in collaboration with one another, using what we have. I believe in ‘Africa First’ because I have started with ‘Nigeria First’.”
The President added that African countries should focus on attracting investors willing to add value to local resources rather than merely extracting raw materials.
“Today, we don’t want scavengers, we don’t want extractors; we want people to add value. If you are an investor, we will encourage you to add value to what we have as a nation,” he stated.
Tinubu also proposed the creation of a continental commodity exchange platform that would enable African countries to trade resources among themselves more effectively.
“Look around the continent — 54 countries, each with unique commodities. Why not establish an exchange commodity platform where we can trade with one another?” he asked.
Commenting on Nigeria’s energy security, the President said the Dangote Refinery played a critical role in stabilising the country amid the Middle East conflict.
According to him, Nigeria’s large population would have faced serious challenges if the refinery had not been established.