RismadarVoice Reporters, May 15, 2026
President Bola Tinubu said Nigeria is on course to attract nearly $20 billion in foreign direct investment (FDI) in 2026, attributing the projection to ongoing economic reforms, improved transparency and the removal of regulatory bottlenecks by his administration.
Tinubu made the remarks on Thursday while speaking at the Africa CEO Forum in Kigali, Rwanda, where he advocated stronger African economic integration, self-reliance and value addition to the continent’s natural resources.
The President, who spoke during a panel session moderated by British journalist Zainab Badawi alongside Gabonese President Brice Clotaire Oligui Nguema, said Nigeria’s economic reforms were already yielding positive results.
“Removing all the bottlenecks gives you the necessary incentives for direct foreign investment into the country. This year alone, I can beat my chest that Nigeria is attracting close to $20 billion in foreign direct investments,” Tinubu stated.
He stressed the need for African countries to stop exporting raw materials without processing them locally, arguing that the continent must begin to harness its resources for industrial growth and economic development.
According to him, Nigeria would no longer permit the export of solid minerals without value addition.
“No one can take metal out of Nigeria without adding value. I can produce batteries for cars with my minerals,” he said.
Tinubu also highlighted the role of government support in the success of the Dangote Petroleum Refinery, describing the project as a product of an effective public-private partnership.
“Nigeria could not survive with over 200 million people in peace without a refinery. A risk-taker like Dangote must be encouraged by the government,” he said.
The President explained that supplying crude oil to domestic refineries in naira was aimed at reducing pressure on foreign exchange and stabilising the economy.
On tax reforms, Tinubu said his administration had simplified tax payment systems to improve compliance and ease of doing business, noting that Nigerians could now access tax services through mobile devices.
Speaking further, the President disclosed that Nigeria had laid over 90,000 kilometres of fibre optic cables nationwide to support digital communication, e-commerce and artificial intelligence-driven innovation.
He also pointed to investments in agriculture, including mechanised farming zones, storage infrastructure and major road projects, as part of efforts to boost food security and economic growth.
Tinubu urged African nations to strengthen collaboration under the African Continental Free Trade Area (AfCFTA), insisting that the continent must work together to achieve sustainable development.
“Africa needs to put its money where its mouth is. We must collaborate and effectively utilise our resources,” he said.
The Africa CEO Forum, which ends on Friday, brings together African leaders, investors and business executives to discuss economic growth and private sector development across the continent.
