Key Highlights
- Negative social media comments are significantly impacting Nigeria's investment promotion efforts, according to an NIPC official.
- Foreign investors require confidence, which is undermined by negative online narratives about the country.
- The NIPC official urged Nigerian youth to refrain from speaking negatively about their nation online.
- Nigeria attracted $565.21 million in Foreign Direct Investment (FDI) in the first nine months of 2025, but FDI constituted only 3.3% of total capital inflows.
- Economic reforms and policy consistency are crucial for sustaining Foreign Direct Investment (FDI).
Abdullahi Shiru, Deputy Director and Head of Planning at the Nigerian Investment Promotion Commission (NIPC), has highlighted the detrimental effect of negative online commentary on the country's investment promotion activities. He specifically cautioned Nigerian youth against posting disparaging remarks about their nation on social media.
Shiru made these remarks during a panel session at the Nairametrics financial literacy forum, themed "The Money Fair," held in Lagos. Representing the NIPC CEO, he emphasized that foreign investors need a strong sense of confidence before committing capital to projects in Nigeria.
"I’ll use this opportunity…because we have young men and women here, social media is really affecting our job. Don’t speak evil about your country. Our job is to serve Nigeria. Nobody will come and develop Nigeria except we develop it ourselves. If we destroy our country, we are destroying ourselves," Shiru stated.
He outlined three key elements for attracting Foreign Direct Investment (FDI): "Tell them what you want to tell them. Tell them again, and tell them what you have already told them." Shiru stressed that policy consistency is vital for sustaining FDI and commended the ongoing economic reforms for their role in driving increased investment into Nigeria.
"The macroeconomic policy, the forex policy, and the reforms being carried out by regulatory agencies like the SEC, as well as the injection and recapitalisation of that sector, have really boosted FDI in the country because investors have that confidence. What investors need is confidence. Once they have that confidence, they will invest," Shiru told the gathering.
Data from the National Bureau of Statistics (NBS) indicates that Nigeria attracted $565.21 million in FDI during the first nine months of 2025. This figure represents only 3.3% of the total capital inflows into the country during the same period. The trend, observed across Q2 and Q3 of 2025, mirrors that of Q1, raising concerns about the nation's capacity to attract long-term, productivity-enhancing investments.
While Nigeria's capital inflows in 2025 surpassed the full-year 2024 levels, the composition of these inflows reveals a reliance on short-term and yield-driven capital rather than FDI, which is crucial for factory construction, infrastructure development, and long-term business expansion.
