BREAKING: Obi slams FG over 70% crash in foreign investments, faults weak leadership

Labour Party presidential candidate Peter Obi criticized the Federal Government for a 70% crash in Foreign Direct Investment (FDI) in Nigeria, attributing it to weak leadership and governance. Obi highlighted the government's ineffective reforms and frequent overseas trips in search of investments, which he believes fail to address the root causes of investor apathy.

He pointed out that Nigeria's poor performance in key governance indicators like the rule of law and government effectiveness undermines the country's attractiveness to foreign capital. According to data from the National Bureau of Statistics, FDI dropped from $1.5 billion in the fourth quarter of 2024 to $450 million in the first quarter of 2025.

Obi warned that the majority of the imported capital was speculative, with little impact on industrial growth or job creation. He emphasized the need for investment in the manufacturing sector, which saw a decline from $90 million to $60 million in the same period.

In contrast to Nigeria's decline, global FDI in Africa.