Crumbs While the World Feasts
Africa's FDI drops 26% as global capital surges, banking stocks rally, ISWAP finance chief surrenders, Falcons chase title.
Good morning and welcome to a new week,
A Nigerian tech founder in Lagos is struggling to raise $2 million for his fintech startup. He has pitch decks, traction, and a team of brilliant engineers. But investors are looking elsewhere. Global foreign direct investment climbed by 6 percent to $1.6 trillion in 2025, ending two years of decline. Africa was left behind. FDI into the continent plummeted by 26 percent, dropping from $94 billion in 2024 to just $70 billion. The AI revolution is drawing capital to data centres, which attracted $235 billion globally. Africa is standing on the sidelines. Nigeria did attract about $4 billion in 2025, double the previous year’s $1.6 billion. But that is not victory. That is survival. We are celebrating crumbs while the feast passes us by.
While global capital races ahead, Nigeria’s banking sector is preparing for its own rally. Banking stocks are expected to drive the market in the coming weeks, according to analysts, as the sector benefits from the CBN’s recapitalisation programme and strong first-half results. The banking sector has been a key driver of the NGX’s performance in 2026. Investors are buying. The question is whether the rally will be sustained.
In Borno, there is a different kind of surrender. Musa Usman, ISWAP’s chief finance officer in Jubillaram, surrendered to troops of Operation Hadin Kai. He brought his two sons, aged 10 and 15, an AK-47 rifle, four magazines, 101 rounds of ammunition, a motorcycle, and ₦40,000. Forty-six other terrorists and their families laid down their arms alongside him. A finance chief surrendering is a sign that the insurgency’s financial network is cracking. The military is gaining ground. The question is whether the defections will continue.
And then there is the beautiful game. The Super Falcons have finalised preparations for the 2026 WAFCON in Morocco, seeking an 11th title. They have never lost a WAFCON final. Captain Rasheedat Ajibade, Asisat Oshoala and Chiamaka Nnadozie are ready. The top four teams will qualify for the 2027 FIFA Women’s World Cup. The Falcons are chasing glory. The rest of us are watching, hoping, believing.
In the middle of all this, a clarification. The police have said the Inspector-General did not issue a “shoot-on-sight” order. He merely reiterated the rules on firearms use. The Force is trying to manage public perception. The question is whether officers will follow the rules.
A tech founder cannot raise $2 million. Global capital is fleeing Africa. Banking stocks are rallying. A terrorist finance chief surrenders. The Super Falcons chase an 11th title. These are the same story: a country where capital is scarce, where security is improving in some places, where our women are making us proud, and where the systems are still fragile. The question is whether we will build a country that can hold onto its talent, attract investment, and celebrate its champions.
Warmly,
Lolade