US Warns Executives of Investment Risks in Nigeria

The United States Department of State has issued a report identifying insecurity, corruption, port inefficiencies, and regulatory uncertainty as significant barriers to investment in Nigeria. The report, part of the '2026 Investment Climate Statements on Nigeria', acknowledges the impact of structural reforms by President Bola Tinubu's administration, including the removal of fuel subsidies and foreign exchange market liberalization, which initially caused economic volatility.

Despite some signs of stabilization, security concerns and administrative challenges remain critical for foreign investors. The report specifically mentions the nearly eight-month detention of Tigran Gambaryan, a US citizen and Binance executive, as a warning regarding the treatment of foreign business executives in regulatory disputes.

Additionally, it highlights inefficiencies at Nigerian seaports, particularly in Apapa and Tin Can Island, where cargo dwell times exceed 20 days. The Lekki Deep Seaport, however, handled $9.6 billion in trade in 2025 and aims to reduce cargo dwell time through the National Single Window initiative launched on March 27, 2026.