Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has criticised the President Bola Tinubu-led administration over Nigeria’s investment climate, accusing the government of failing to address structural challenges that discourage foreign investors.

Obi, in a Facebook post yesterday, stated that concerns raised in the 2026 Nigeria Investment Climate Statement by the United States Department of State exposed weaknesses in the country’s business environment despite the Federal Government’s emphasis on macroeconomic stability.

He identified corruption, insecurity, inconsistent regulatory enforcement and weaknesses in the judicial system as some of the challenges undermining investor confidence and Nigeria’s ability to attract foreign direct investment (FDI).

The former Anambra State governor said the report raised questions about the country’s capacity to attract investments commensurate with its market size and economic potential.

According to him, the report highlights several concerns, including delays in cargo clearance at the ports, power sector challenges and the treatment of foreign businesses involved in regulatory or commercial disputes.

He also cited the report’s warning that routine business trips could result in detention when companies face regulatory scrutiny or charges from Nigerian authorities.

Obi further referenced concerns about the alleged use of travel restrictions, exit bans and arbitrary detention as leverage in commercial or regulatory disputes involving multinational companies.

He said the concerns warranted an immediate response from the Federal Government, including investigations and concrete measures to address the issues identified.

“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.

Obi argued that a prompt response was necessary to strengthen Nigeria’s investment climate, attract foreign direct investment and deepen its economic relationship with key international partners.

He blamed the Tinubu administration for failing to adequately address the factors discouraging foreign investors from committing long-term capital to the country.

The NDC presidential candidate also questioned the composition of Nigeria’s capital importation figures, arguing that the country was attracting significantly more short-term portfolio investments than direct investments capable of supporting productive economic activities.

Citing figures for the first quarter of 2026, Obi said Nigeria recorded $10.37 billion in capital importation, with foreign direct investment accounting for $135.08 million, representing approximately 1.3 per cent of the total.

He said foreign portfolio investment accounted for about $9.86 billion, or 95.1 per cent of total capital inflows, while loans and other sources made up the remainder.

Obi maintained that the figures highlighted the need for the government to address structural weaknesses in the investment environment rather than focus solely on macroeconomic indicators.

He expressed optimism about Nigeria’s economic prospects, insisting that a more productive economy was achievable if the country addressed the challenges undermining investor confidence and created an environment conducive to long-term investment.