By Tunde Oso
TO improve Nigeria’s investment climate this new year, continued foreign exchange reforms should remain central to Federal Government’s economic policy.
Delivering its Monthly Rating Brief for January, DataPro, a leading compliance, corporate governance and fraud risk management consulting firm, in its forecast for 2026, titled “Investment Outlook in the New Year: Opportunity Turning Point”, said, “Nigeria’s investment landscape is gearing up for a fresh chapter, driven by a mix of economic stabilisation, important reforms, and changing capital market dynamics.
“After years of challenges like currency fluctuations, high inflation, and shaky investor confidence, recent government moves are starting to reshape risk perceptions and reopen doors for both local and foreign investors. DataPro, in the brief signed by Founder, Abim-bola Adeseyoju, said, “As Nigeria approaches 2026, the nation’s financial and non-financial sectors face a dynamic risk landscape shaped by evolving geopolitical, economic, and regulatory factors.
“Market analysts suggest that renewed foreign interest has, so far, been concentrated in short-term instruments, including sovereign debt and tradable equities, rather than long-term foreign direct investment.
“This sequencing is consistent with global investment patterns, where capital typically enters liquid markets first before transitioning into longer-dated, less reversible commitments,” it said.
“Capital market practitioners observe that Nigeria has moved from being largely uninvestable for many global investors to a market where risk can again be priced.
“Policy credibility, consistency, and transparency—rather than headline returns alone—are driving this reassessment. Over time, sustained portfolio inflows are expected to catalyse deeper foreign direct investment, particularly if reform momentum is maintained.
Going further, the brief said, “Non-oil sector expansion continues to underpin Nigeria’s medium-term growth outlook, though the capacity to absorb capital at scale varies across sectors.
While telecommunications and financial services have supported recent growth, construction and infrastructure services are increasingly viewed as the next major drivers of investment activity, reflecting Nigeria’s significant infrastructure deficit and the scale of financing required.”
“Unlike telecommunications, where investable platforms are relatively limited, construction and infrastructure offer broader opportunities for large-ticket funding, public-private partnership (PPP) structures and long-dated capital deployment.
“These sectors are expected to benefit directly from higher capital spending and reform-driven improvements in the business environment.
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