Onanuga Lists 19 Investment Projects to Boost Nigeria's Economy

Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, has outlined 19 investment projects across multiple sectors to refute claims that Tinubu's economic reforms are scaring investors away from Nigeria. In a post on X, Onanuga highlighted developments from 2025 to 2026 in sectors such as banking, oil and gas, power, mining, telecommunications, technology, data centres, ports, and logistics.

Notable banking sector activities include JPMorgan's N50bn deposit with the Central Bank of Nigeria for a merchant banking licence, Absa's potential conversion of its Nigerian office into a merchant bank, and Standard Bank Group's investment in OPay. In oil and gas, he mentioned TotalEnergies and AMNI's Ima gas project, ExxonMobil's deepwater investments, and Shell's Bonga South West development.

The $2.3bn Presidential Power Initiative with Siemens Energy, a $250m lithium processing plant in Nasarawa State, and MTN's data centre project were also highlighted. Onanuga's presentation serves as a rebuttal to opposition claims regarding the economic impact of Tinubu's administration since May 2023.