By Gabriel Ameh
The Tinubu Media Support Group (TMSG) has linked the recent increase in foreign investment interest in Nigeria to what it described as President Bola Ahmed Tinubu’s pro-business approach and ongoing economic reforms.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group pointed to recent investment figures, final investment decisions in the oil and gas sector and the growth in Nigeria’s foreign exchange reserves as indicators of improving investor confidence.
TMSG said Nigeria recorded about $8.39 billion in foreign direct investment (FDI) between 2022 and 2025, citing figures it attributed to the United Nations Trade and Development (UNCTAD).
According to the group, FDI stood at $895 million in 2022, rose to $1.873 billion in 2023, reached about $1.614 billion in 2024 and increased to approximately $4.005 billion in 2025.
The group described the 2025 figure as a significant increase, arguing that it reflects growing interest in the Nigerian economy under the Tinubu administration.
Recent reporting based on UNCTAD’s 2026 World Investment Report also put Nigeria’s 2025 FDI inflow at about $4 billion, compared with $1.6 billion in 2024.
TMSG also highlighted developments in Nigeria’s oil and gas industry, saying more than $10 billion in Final Investment Decisions (FIDs) had been secured under the Tinubu administration following reforms in the upstream sector.
Government officials have separately reported that more than $10 billion in long-delayed FIDs have been secured over the past three years, while reforms have been introduced to improve regulatory certainty and reduce investment delays.
The group further pointed to Nigeria’s foreign exchange reserves, which stood at $54.61 billion as of September 14, 2026.
Data from the Central Bank of Nigeria, as reported by Nairametrics, showed that the reserves increased by $12.76 billion year-on-year from $41.84 billion in September 2025, representing a 30.5 per cent rise.
TMSG said the combination of rising investment inflows, oil and gas investment commitments and stronger external reserves indicated an improvement in Nigeria’s macroeconomic position.
However, the group acknowledged that improvements in macroeconomic indicators had not yet translated fully into stability at the household and microeconomic levels.
It maintained that the government’s economic reforms were still ongoing and urged Nigerians to remain patient as the administration seeks to consolidate the gains recorded so far.
TMSG also warned that reversing the current economic reforms could undermine what it described as recent progress and create additional difficulties for the Nigerian economy.
While the investment and reserves figures point to notable changes in some areas of Nigeria’s external and investment position, the extent to which these developments translate into broader improvements in living standards, employment and household purchasing power remains a separate economic question.
