Tinubu's Administration Lists Major Investments to Counter Criticism

The Presidency has defended President Bola Tinubu's economic reforms by highlighting planned investments from major companies such as JPMorgan, Shell, ExxonMobil, and Siemens Energy. Bayo Onanuga, the President’s Special Adviser on Information and Strategy, listed 19 investments across various sectors in a post on 𝕏 on October 24, 2026.

These projects encompass banking, oil and gas, electricity, mining, manufacturing, telecommunications, data centres, ports, and logistics. Onanuga criticized opposition figures for denying the progress made since Tinubu took office in May 2023.

In the banking sector, JPMorgan is pursuing a merchant banking licence and has deposited ₦50 billion with the Central Bank of Nigeria. In oil and gas, TotalEnergies and AMNI announced a final investment decision on the Ima gas project, while ExxonMobil committed $1.5 billion to deepwater fields.

Siemens Energy is involved in a $2.3 billion Presidential Power Initiative, including a 480-megawatt substation in Abeokuta, expected to be completed by the end of 2026.