Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has questioned the Federal Government’s claims of economic success following concerns raised by the United States over Nigeria’s investment climate.
Obi, in a statement posted on his X handle on Wednesday, said the 2026 Nigeria Investment Climate Statement highlighted serious obstacles discouraging foreign investors from choosing Nigeria.
He said the report identified corruption, insecurity, weak regulatory enforcement, judicial challenges, port inefficiency and poor electricity supply as major risks to investment.
According to Obi, the warning contradicts the APC-led government’s celebration of improving macroeconomic indicators under President Bola Tinubu.
He described the U.S. assessment as evidence that Nigeria must urgently address structural problems affecting investor confidence.
Obi also quoted the report as warning that routine business visits could result in detention if companies come under regulatory investigation in Nigeria.
He further noted that the report described delays at Apapa and Tin Can ports as a hidden tax that discourages investment and increases business costs.
The former Anambra State governor said Nigeria’s huge population and economic potential should naturally attract more foreign direct investment if the business environment improves.
He stated that only $135.08 million, representing about 1.3 per cent of the $10.37 billion capital imported in the first quarter of 2026, came as Foreign Direct Investment, while most inflows were portfolio investments.
However, the Federal Government has consistently maintained that its ongoing economic reforms are designed to stabilise the economy, boost investor confidence and support sustainable long-term growth.—