Nigeria seeks foreign investment through major projects

The Nigerian government is trying to attract private capital by showcasing improvements in its economy and reforms started in 2023. During the Nigerian Investors Forum in Bangkok, Thailand, on October 14, 2026, officials presented 65 projects worth $78.5 billion as part of the "Project Nigeria" initiative.

Projects span multiple economic sectors

The 65 projects cover energy, transport, agriculture, industry, and technology. They aim to build infrastructure, boost local production, and create jobs across the country.

Economic indicators show progress

The Federal Ministry of Finance pointed to improved economic signs, such as growth reaching its highest level in five years, inflation dropping by almost eight percentage points over a year, and foreign reserves reaching $54.6 billion. Capital inflows have doubled, and major credit rating agencies have upgraded Nigeria’s sovereign credit ratings.

Reforms aim to boost investor confidence

The government has introduced measures to make it easier for foreign investors, including allowing full foreign ownership in most sectors, repatriation of profits, and protections under international treaties. These changes are part of a broader economic strategy started when President Bola Tinubu took office in May 2023.

Economic reforms have stabilized the country

President Tinubu’s government removed fuel subsidies and reformed the foreign exchange market to reduce budget imbalances, improve access to foreign currency, and build investor confidence. The IMF’s 2026 report noted that these reforms have strengthened Nigeria’s economic stability.

Growth and inflation trends show improvement

According to the World Bank, Nigeria’s real GDP growth reached 4.2% in the first half of 2026, up from 3.9% in the same period in 2025. Inflation dropped from 27.6% in January 2025 to 15.2% in December 2025, though global fuel price increases have slowed the decline. The World Bank expects inflation to fall further, reaching about 12% by 2028.

Persistent challenges remain

Despite economic improvements, Nigeria still faces significant issues like insecurity, high unemployment, and widespread poverty. The World Bank estimates that over 60% of Nigerians lived below the national poverty line in 2025, and the country must absorb about 3.5 million new workers into the labor market each year.

Projects aim to address economic challenges

The 65 projects presented in Bangkok are expected to help attract private investment, develop infrastructure, and reduce the country’s reliance on oil. The Ministry of Finance estimates that implementing these projects could create 366,763 jobs.