Nigeria's Minister of Finance and Coordinating Minister of the Economy, Dr. Taiwo Oyedele, and Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, are set to attend the 2026 World Bank/International Monetary Fund Annual Meetings in Bangkok. They will present 23 transactions with a total capital requirement of $42.7 billion across various sectors, including transport, energy, and agriculture. The goal is to attract investors and showcase Nigeria as a country of immense possibility.
The Nigerian government has taken steps to demonstrate its determination to attract investment, including creating a colourful, animated landing page on its website with a countdown clock, outlining its plans and priorities for the Bangkok mission. However, despite these efforts, the country still faces challenges in attracting long-term investors. According to the IMF, Nigeria's financial account recorded a net inflow of about $5.9 billion in 2025, mainly from portfolio investment, but net foreign direct investment improved to only about $2.8 billion, still less than one per cent of GDP.
The IMF has emphasized the importance of a credible macroeconomic and foreign-exchange framework, predictable regulation, reliable infrastructure, and security in creating conditions for stronger foreign direct investment. These are issues that cannot be resolved by a polished presentation alone. Investors need to see evidence of progress that they can assess and trust. Nigeria's infrastructure problem is not merely a development problem, but also an investment-pricing problem that needs to be addressed.
The country's infrastructure challenges, including unreliable electricity supply, inefficient processes, and inadequate security, add to the cost of doing business in Nigeria. For instance, an investor interested in building a world-class cancer hospital in Nigeria would need to calculate the cost of securing a reliable electricity supply, importing specialised medical equipment, and protecting staff, patients, and equipment. These costs can make Nigeria's investment opportunities less attractive to investors.
To make investment opportunities in Nigeria more attractive, the government needs to prioritize addressing the country's infrastructure challenges and create a more conducive business environment. This includes coordinated action across government, credible institutions, and a willingness to address practical constraints that make doing business in Nigeria expensive and uncertain. A roadshow can generate interest, but it cannot fix the conditions that determine whether investors commit their money.
The question Nigeria should be asking itself is why it often has to go abroad to make the case for investment. If the opportunity is as compelling as claimed, why does Nigeria need to travel to cities like London, New York, and Bangkok to pitch its investment opportunities? This forces the government to consider what is on investors' minds, rather than simply what Nigeria wants to offer them. The answer lies in convincing investors that the risks of doing business in Nigeria can be identified, understood, and reduced.
Ultimately, Nigeria does not need another sales pitch; it needs to convince investors that the risks of doing business in the country can be managed. This requires addressing the country's macroeconomic challenges, infrastructure deficits, and regulatory framework to create a more attractive investment environment. By doing so, Nigeria can make its investment opportunities impossible to ignore, rather than just telling investors that the country is an opportunity.
Key points
- Nigeria's economic leaders are pitching $42.7 billion in investment opportunities in Bangkok.
- The country's infrastructure challenges and macroeconomic instability are major concerns for investors.
- Nigeria needs to address its infrastructure deficits and regulatory framework to create a more attractive investment environment.
