Nigeria is open for business and ready to attract serious global investors following far-reaching economic reforms by President Bola Ahmed Tinubu’s administration, the Chairman of the Senate Committee on Finance, Senator Sani Musa (Niger East), has declared.
Speaking at the EU-Africa Dialogue on Financing Africa’s Investment Gap hosted by the Oxford Africa Governance Forum (OAGF) in the United Kingdom, Senator Musa said Nigeria had turned the corner economically and urged partners to prioritize local investment and bankable projects over aid and external prescriptions.
“Nigeria is a case study for Africa, the most populated country with a vibrant, productive population,” he said. “Africa constitutes 17 percent of the world’s population, but receives less than 6 percent of global capital inflows. That must change.”
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Musa, who spoke to an audience of scholars, diplomats, and private investors at Oxford University’s Africa Centre, described agriculture, solid minerals, and infrastructure as “gold mines waiting for smart partnerships,” noting that over 60 percent of Nigeria’s arable land remains untapped.
He assured participants that the Tinubu administration’s economic policies had stabilised key indicators and restored investor confidence. “Every reform comes with pain, but we are turning the corner. Inflation is easing, the naira is stabilising, and massive infrastructure projects are in motion,” he said.
Responding to concerns over Nigeria’s borrowing, Senator Musa clarified that all approved loans were captured in the Medium-Term Expenditure Framework, explaining that the Senate’s role was to ensure fiscal responsibility and transparency. “Nothing is arbitrary. Borrowings are properly planned, debated, and monitored,” he said.
