The Deputy Director and Head of Planning, Department of Strategic Services, Nigerian Investment Promotion Commission, Abdullahi Shiru, has said negative social media comments affect the country’s investment promotions.
The official warned youths in particular against speaking “evil” about the country.
Shiru spoke at a panel session during the opening of the Nairametrics financial literacy forum tagged “The Money Fair,” held in Lagos on Tuesday, where he represented the NIPC CEO.
What the NIPC official is saying
Shiru said foreign investors need confidence before committing their funds to projects in Nigeria.
- “I’ll use this opportunity…because we have young men and women here, social media is really affecting our job.
- “Don’t speak evil about your country. Our job is to serve Nigeria. Nobody will come and develop Nigeria except we develop it ourselves. If we destroy our country, we are destroying ourselves,” he said.
More insights
He noted that to attract Foreign Direct Investment to the Nigerian economy, there are three Ts that must be fulfilled.
- “The first T is ‘Tell them what you want to tell them.’ The second T is ‘Tell them again,’ and the third T is ‘Tell them what you have already told them.’”
The NIPC official noted that consistency in policies is key to sustaining FDI, as he hailed reforms in the economy for driving growing investments in the country.
- “The macroeconomic policy, the forex policy, and the reforms being carried out by regulatory agencies like the SEC, as well as the injection and recapitalisation of that sector, have really boosted FDI in the country because investors have that confidence.
- “What investors need is confidence. Once they have that confidence, they will invest,” Shiru told the gathering.
2025 FDI inflow
Nairametrics reported in January that Nigeria attracted $565.21 million in Foreign Direct Investment (FDI) in the first nine months of 2025, despite a broad surge in overall capital inflows, according to data from the National Bureau of Statistics (NBS).
- The figures indicate that while headline capital importation into the country has been strong, the bulk of funds entering Nigeria continues to be short-term and portfolio-driven.
The trend seen in both Q2 and Q3 2025, which NBS released together, mirrors similar patterns in Q1, raising concerns about the economy’s ability to attract long-term, productivity-enhancing investments.
What you should know
Nigeria’s capital inflows in 2025 exceeded full-year 2024 levels, presenting a strong headline narrative.
- However, the composition reveals that FDI accounted for just 3.3% of total inflows in the first nine months of 2025, with the majority of foreign capital being short-term and yield-driven.
- Unlike portfolio investment, FDI typically supports factory construction, infrastructure development, and long-term business expansion.
The key takeaway is clear: while Nigeria is attracting foreign capital, it is largely not in the form that drives durable economic growth, employment, or structural transformation.
