By Abidemi Adebamiwa
In his piece “The Persisting Death of FDI in Nigeria and Its Implications” published in Open Business Newspaper on August 18, 2025, Mared Okeke lays out the facts of Nigeria’s weak inflows of foreign direct investment. He ties much of the problem to global issues like interest rate movements, trade tensions, and investor sentiment. While those points are not wrong, they leave out the more obvious truth. Foreign investors still want Nigeria. The people holding Nigeria back are its own leaders, civil servants, and the very institutions that are supposed to welcome investment.
The Bottleneck That Pushes Investors Away
Nigeria remains attractive on paper. It has the population, the market size, and the resources that investors like to see. Many companies are ready with their money and their technology. They come to Nigeria with urgency because capital moves fast. But what do they find. They face a wall of delays, unanswered files, endless approvals, and sometimes outright rejection with no other option in sight. When these companies encounter a bureaucracy that is corrupt and resistant to change, they simply move on to Ghana, Kenya, or Rwanda where the doors are open.
Photo Opportunities Do Not Bring Investment
Nigerian leaders say at every forum that the country is open for business, but the daily experience tells another story. Governors and top civil servants travel abroad on what they describe as investment missions. Many of these trips are nothing more than photo opportunities and leisure tours. Pictures are taken, pledges are made, but no real investment follows. Investors are not fooled by this. They want to see action and consistency, not empty pictures on the pages of newspapers.
What makes matters worse are stories of projects blocked because they clash with the personal or family interests of those in government. A power plant, a factory, or a new service hub can be left idle after investors lose patience because one official decided to stall it for selfish reasons. By the time the truth comes out, the investors have gone elsewhere. The damage is permanent because capital does not wait.
The Gap Between Words and Practice
Okeke highlights the global conditions affecting Nigeria. But even under the same conditions, other African countries continue to see rising investment. The difference is that they remove obstacles while Nigeria creates them. Our leaders speak loudly on international stages, yet investors on the ground face a system that works against them. The civil service prefers red tape to solutions. Corruption thrives in the gaps and the country loses again and again.
What Must Change
Nigeria cannot continue on this path and expect different results. It cannot photo-op its way into foreign investment. It cannot send delegations overseas while shutting the doors at home. Real change will only come when our government and civil service begin to see investors as partners rather than prey.
Until that happens, the truth will remain simple. It is not that the world does not want to invest in Nigeria. It is Nigeria that keeps pushing the world away.
Abidemi is a political analyst and the Managing Editor @ Newspot Nigeria
