Nigeria investment destination gains traction as investor confidence rises despite security concerns, Braimah says after UK forum

Nigeria is increasingly positioning itself as an attractive investment destination, despite lingering security concerns, according to Ehi Braimah, publisher/editor-in-chief of NaijaTimes.

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Speaking during an interview with Maupe Ogun-Yusuf and and Ayo Makinde on Sunrise Daily, Braimah highlighted key outcomes from President Bola Ahmed Tinubu’s recent state visit to the United Kingdom, noting that the trip extended beyond ceremonial engagements to focus on economic partnerships and investment mobilisation.

He explained that a major highlight of the visit was a high-level investment forum organised by the Central Bank of Nigeria in collaboration with the UK’s Foreign, Commonwealth and Development Office, alongside several Nigerian banks and global financial institutions.

According to him, the forum underscored Nigeria’s shift from economic stabilisation to capital mobilisation, with Yemi Cardoso playing a central role in presenting reforms aimed at boosting investor confidence.

“The main objective was to showcase how Nigeria is becoming an attractive investment destination. The CBN Governor is putting that on the spotlight, and that sends a strong signal that the country is ready to attract more foreign capital,” Braimah said.

He revealed that investor sentiment at the forum was largely positive, dismissing concerns about scepticism among potential investors.

“They were not skeptical at all. They were excited about moving capital into Nigeria. Discussions centred on ongoing reforms such as exchange rate unification and the removal of fuel subsidies, as well as their impact on the broader economy,” he noted.

Braimah further disclosed that 32 Nigerian banks have met new capital requirements set by the apex bank, with approximately 28 per cent of the capital inflows coming from foreign investors.

“If that does not signal confidence in the economy, I don’t know what will. There is clear potential for growth,” he added.

L-R: Ehi Braimah, Dr. Toju Ogbe, Carol Abade and Toni Kan

While acknowledging improvements in macroeconomic indicators such as foreign exchange reserves and naira stability, he admitted that challenges persist at the microeconomic level, particularly in relation to the cost of living and poverty.

He also pointed to global geopolitical tensions, including developments involving Iran, the United States and Israel, as factors contributing to rising fuel prices and increased costs of goods and services worldwide.

On regional economic development, Braimah commended recent initiatives in the Niger Delta, urging other regions to emulate efforts to mobilise local capital and drive growth independently of federal allocations.

However, concerns around Nigeria’s security situation remain a critical issue.

During the interview, Ogun-Yusuf referenced Nigeria’s performance in the Global Terrorism Index, as well as recent attacks in Borno State and instability in the North Central region.

Responding, Braimah acknowledged that security challenges persist but argued that they have not significantly deterred investor interest.

“These challenges did not start today. While they are troubling, investors are still coming into Nigeria,” he said.

He, however, warned of a possible link between rising insecurity and the approaching 2027 general elections, noting a historical pattern of increased violence during election cycles.

“It is not healthy for democracy when the opposition is weakened. When people feel pushed to the wall, it can lead to unrest. We must avoid violence as we approach 2027,” he cautioned.

Braimah also called for enhanced collaboration between Nigeria and international partners, including the United Kingdom, particularly in addressing security challenges.

“If we need external support, we should seek it. Security cooperation was part of the broader discussions during President Tinubu’s state visit to the UK,” he added.

Despite the concerns, he expressed optimism about Nigeria’s economic trajectory and urged citizens to project a positive image of the country on the global stage.

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“At moments like this, we must unite and take pride in Nigeria. Regardless of who is in power, the country comes first,” he said.