Presidential spokesman Bayo Onanuga has issued a comprehensive report. The report details 19 major industrial, energy and logistics developments. It aims to demonstrate sustained foreign direct investment inflows. The projects include data centres and port expansions. The report follows criticism that the government has not attracted enough investment.
The Tinubu administration has courted foreign investment since 2023. It has removed the petrol subsidy. It has floated the naira. It has cleared FX backlogs. It has signed agreements with international partners. The results have been mixed. Capital importation rose to $23 billion in 2025. Reserves are at $55 billion. The J.P. Morgan and FTSE reclassifications restored market access. The government wants to show that the reforms are working.
The report lists the projects. It does not name every investor. It does not disclose the total value. It highlights data centres. It cites port expansions. It mentions energy projects. The report says the projects are at various stages of development. Some are operational. Others are under construction. Some are at the planning stage. The report says the investments will create jobs. It says they will support infrastructure. It says they will deepen Nigeria’s industrial base.
The timing matters. The 2027 election is approaching. The government wants a narrative of progress. The opposition wants a narrative of failure. The report is a campaign tool. It is also a response to critics. It shows that some investment is flowing. It does not show whether the investment is enough.
The economy remains the battleground. The government says it is stabilising. The opposition says it is not. The report is evidence of activity. It is not evidence of impact. The jobs, the infrastructure and the industrial base will take years to materialise.
Winners: The Federal Government, which shows activity. The investors named, who gain visibility. The APC, which gains a talking point. Losers: Critics who say investment is low. The opposition, which faces a counter-narrative. Nigerians who see no improvement in daily life. The report, if the projects stall.
Bottom Line: Onanuga listed 19 projects. The government wants to show investment. The report is a campaign document. It is not an audit. The projects must deliver. The investment must reach the ground. The 2027 election will test the narrative.