As the APC-led government continue in their delusional celebration of Nigeria's macroeconomic stability, the warning from the United States Government to prospective investors on inherent risks in Nigeria, further affirms the general and correct assessment that President Bola Tinubu-led government is incompetent, ineffective and corrupt.
*Peter Obi
In the 2026 Nigeria Investment Climate Statement, the U.S. Department of State clearly flagged corruption, insecurity, inconsistent regulatory enforcement and weaknesses in the judicial system, cargo delays and power sector challenges as key factors undermining investor confidence in Nigeria. The report went further to caution investors of the possible use of arbitrary detention, travel restriction and immigration enforcement to coerce foreign businesses in Nigeria.
As the report unambiguosly stated: “U.S. businesses are advised that standard business trips can escalate into detention if the firm is under regulatory suspicion or faces charges by Nigerian authorities. Nigeria has previously employed coercive exit bans and arbitrary detention as leverage in commercial or regulatory disputes, and to extract data or financial concessions from multinational firms.
Port inefficiency remains a significant “hidden tax”
on investment. While the Lekki Deep Seaport, which opened in 2023,
significantly eased pressure in 2025 — handling $9.6 billion in trade and
operating at 50 percent capacity — traditional ports in Apapa and Tin Can still
suffer from cargo dwell times exceeding 20 days due to manual examinations.”
In a nation with an effective, competent and attentive
government, this kind of adverse report would have elicited immediate
intervention by the President and Commander in Chief ordering prompt
investigation, follow-up and effective action to ensure that our most endowed
Nigeria is not perceived negatively by one of our key trading partners,
friendly nations and expectedly the global economy. This is even more important
given our desperation for Foreign Direct Investment.
Unfortunately, our incompetent APC- led government cannot give
what they don’t have as they are the real perpetrators of the issues raised by
the U.S. Government.
This explains why Nigeria is unable to attract Foreign Direct
Investment commensurate with our market size and potential. Of the $10.37
billion in total capital importation in the first quarter of 2026, only $135.08
million (about 1.3% of the total inflows) was Foreign Direct Investment (FDI),
while about $9.86 billion (about 95.1% of the total inflows) went into Foreign
Portfolio Investment (FPI) with loans and other capital streams accounting for
the remaining.
It is paradoxical that while the Tinubu administration is
celebrating macroeconomic stability, it is unwittingly scaring away foreign
investors. What a shame.
A New and Productive Nigeria is POssible and Nigeria will be OK
*Peter Obi is the presidential candidate of National Democratic Congress (NDC)
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