Jumoke Oduwole
Nigeria’s economic reforms are yielding strong results as capital importation surged to $23 billion in 2025, up from over $12 billion in 2024, while foreign exchange reserves crossed the $50 billion mark, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, announced on Monday.
Delivering the keynote address at the Third Annual Lagos Multi-Door Courthouses (LMDC) and Alternative Dispute Resolution (ADR) Stakeholders’ Summit in Lagos, Oduwole attributed the growth to key macroeconomic policy shifts under President Bola Tinubu’s administration.
The summit was themed: “Investor Confidence and ADR: Strengthening Nigeria’s Investment Climate.”
Key Economic Indicators Highlighted
Capital Inflows: Capital importation expanded by 83 percent year-on-year, rising from $5.5 billion in the first quarter of 2025 to over $10 billion in the corresponding period of 2026.
Foreign Exchange Reserves: External reserves grew from over $40 billion to more than $50 billion, significantly enhancing Nigeria’s resilience against global economic shocks.
Inflation & GDP: Economic growth surpassed 4 percent in 2025 and sustained that trajectory through the first half of 2026, while headline inflation dropped sharply to 14.63 percent in September 2026 from 33.2 percent in 2024.
Non-Oil Exports: Non-oil exports surged past $6 billion, led by processed agricultural products and industrial inputs including cocoa derivatives, fertilizer, cashews, dairy, and cassava starch.
While welcoming the increased capital inflows, Dr. Oduwole emphasized that the quality of investment remains vital for sustainable national development.
“Importantly, the quality of capital matters as much as the volume. Nigeria is working on moving capital into factories, infrastructure, processing capacity, and enterprises that can grow, employ, and export,” Oduwole stated.
The minister noted that transparent regulatory frameworks and efficient dispute resolution are critical to retaining long-term investors. She disclosed plans to establish an investment ombudsman to resolve grievances before they escalate into formal litigation.
Echoing these sentiments, the Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi (SAN), noted that alternative dispute resolution (ADR) is essential for building trust and reducing investment risks.
Fagbemi highlighted the inauguration of a national committee reviewing the Arbitration and Mediation Act 2023, alongside work toward a national arbitration policy aimed at positioning Nigeria as a premier dispute-resolution hub in Africa. (NAN)
