Obi argued that the warning contradicted the Federal Government’s celebration of macroeconomic stability, accusing the All Progressives Congress (APC)-led administration of failing to address structural problems undermining investor confidence.
In a statement titled “Scaring Investors While Celebrating Macroeconomic Stability!”, Obi said the concerns raised in the 2026 Nigeria Investment Climate Statement by the US Department of State reinforced his criticism of the Tinubu administration’s economic management.
According to Obi, the report identified corruption, insecurity, inconsistent regulatory enforcement, weaknesses in the judicial system, cargo delays and electricity challenges as major obstacles to investment in Nigeria.
He also drew attention to the report’s alleged warning that foreign businesses could face arbitrary detention, travel restrictions and immigration enforcement in disputes involving Nigerian authorities.
Quoting the report, Obi said: “U.S. businesses are advised that standard business trips can escalate into detention if the firm is under regulatory suspicion or faces charges by Nigerian authorities.”
He added that the report highlighted the alleged use of exit restrictions and arbitrary detention as leverage in commercial or regulatory disputes involving multinational companies.
Obi also cited port inefficiencies as a significant cost burden on businesses, noting that although the Lekki Deep Seaport had eased some pressure on the country’s maritime infrastructure, traditional ports in Apapa and Tin Can Island continued to experience lengthy cargo clearance delays.
The former presidential candidate argued that such concerns should prompt an immediate response from the Nigerian government, particularly as the country seeks to attract more foreign direct investment (FDI).
He said an effective and responsive administration would investigate the issues raised, engage relevant institutions and implement measures to protect Nigeria’s reputation among international business partners.
Obi maintained that Nigeria’s investment prospects depended not only on macroeconomic indicators but also on the strength of its institutions, the predictability of government policies, the reliability of infrastructure and the protection of investors’ rights.
“In a nation with an effective, competent and attentive government, this kind of adverse report would have elicited immediate intervention by the President and Commander in Chief ordering prompt investigation, follow-up and effective action,” he said.
He argued that the concerns were particularly serious because Nigeria needed substantial foreign investment to expand production, create employment opportunities and stimulate sustainable economic growth.
Obi accused the APC-led government of failing to address the underlying challenges, claiming that the administration’s policies and governance approach had contributed to the country’s difficulties in attracting long-term investment.
He further argued that Nigeria’s investment inflows revealed a significant imbalance between foreign portfolio investment and direct investment in productive enterprises.
Citing figures in his statement, Obi said Nigeria recorded $10.37 billion in total capital importation in the first quarter of 2026, of which $135.08 million, representing approximately 1.3 per cent, came through foreign direct investment.
He stated that foreign portfolio investment accounted for about $9.86 billion, or approximately 95.1 per cent, while loans and other capital sources made up the balance.
Obi described the figures as evidence of the gap between attracting financial inflows and securing the kind of long-term investment that could expand businesses, strengthen local industries and create jobs.
He argued that portfolio investments, although important to financial markets, do not necessarily provide the same level of direct productive capacity, technology transfer and employment opportunities associated with investment in factories, infrastructure and other operating businesses.
The former Anambra State governor said the apparent contrast between the government’s celebration of macroeconomic stability and the reported concerns about Nigeria’s investment climate raised questions about the effectiveness of its economic policies.
“It is paradoxical that while the Tinubu administration is celebrating macroeconomic stability, it is unwittingly scaring away foreign investors. What a shame,” he said.
Obi concluded by expressing confidence that Nigeria could overcome its challenges through more effective governance, stronger institutions and policies that encourage productive investment.
“A New and Productive Nigeria is POssible and Nigeria will be OK,” he declared.
His comments add to the political debate over the Tinubu administration’s economic record and its efforts to attract foreign capital. However, the allegations and interpretation of the US investment climate assessment in Obi’s statement represent his political position. The underlying report’s precise wording and the cited capital-importation figures should be independently verified against the original publications.
