Economy
Buhari Assures Foreign Investors Attractive Yields
By Modupe Gbadeyanka
Those interested in coming into Nigeria to invest in any of the sectors have been assured business friendly environment and attractive returns when they do so.
This assurance was given by President Muhammadu Buhari in Yokohama, Japan on Thursday, where he specifically said, “Nigeria has very attractive investment opportunities with some of the highest Returns-on-Investment.”
Presenting the country’s Statement at Plenary Session Three on “Public-Private Business Dialogue” at the Seventh Tokyo International Conference on African Development (TICAD7), the President said he looked
forward to prospective investors making inroads “in the following priority sectors in Nigeria, namely, power and renewable energy, petrochemical and gas, maritime (shipping and ports), automobiles, mining, agribusiness, healthcare and pharmaceuticals, ICT and railway.”
Assuring potential investors of good returns as a result of ongoing reform measures taken by his administration, he added that, “I have also established a Presidential Committee on Enabling Business
Environment, which is made up of key Ministries and prominent businessmen to promote the Ease of Doing Business and make Nigeria more attractive and competitive for investment.”
Similarly, President Buhari said that his administration was “committed to removing all impediments to private sector participation in these sectors by creating policies that will ensure consistency, predictability and a level playing field for all.”
Having identified power, transportation, infrastructure, maritime/shipping, agro-processing, mining, manufacturing, petro-chemicals, food processing and textiles among others, as “key drivers to the diversification” of the Nigerian economy as well as “priority areas that will drive our Economic Agenda,” the President said he looked forward to “welcoming prospective investors to Nigeria.”
Reviewing Nigeria-Japan relations, President Buhari commended existing bonds of friendship and economic cooperation between both countries, describing the Asian country as “a strategic partner for our socio-economic development.”
He disclosed Nigeria’s intention to “further encourage relationships with key public and private sector stakeholders” in both nations.
The Nigerian leader expressed particular delight with the level of “discussions on the establishment of the Japan-Nigeria Business Facilitation Council, an initiative of the Japanese government, which would
be launched on our return to Nigeria,” adding that, “I look forward to positive reports of increased trade and investment between Nigeria and Japan from these initiatives.”
Describing the TICAD Forum as important to Nigeria in many respects, President Buhari said it “coincides with the period when the country is faced with a number of challenges that affect our economy.”
Noting that his administration “has put in place measures seeking to diversify the economy by developing agriculture, emphasising on manufacturing and addressing the energy and infrastructure deficit,” he expressed confidence that, “With these we shall be placing Nigeria on the path of rapid growth and sustainable development.”
According to the Nigerian President, TICAD is also “coming at a time when our government is implementing home-grown and private sector-driven economic measures that are predicated on good governance, infrastructure and human capital development as well as, business climate reform.”
The above domestic measures, he explained, informed his invitation to “the private sector to come and invest in Nigeria.”
According to him, “Nigeria and indeed Africa, expect much from this Forum in terms of investment, considering the role of Foreign Direct Investment in all economies – developed and developing.”
President Buhari also expressed Nigeria’s gratitude to the Japanese Prime Minister, Mr Shinzo Abe, “for his unwavering commitment to strengthen trade and investment between Japan and Africa through various initiatives, partnership and support of the Japanese Government.”
He also wished TICAD7 “fruitful deliberations and hope that the conclusions reached will enhance access by African countries to international capital investment as well as boost Japan-Africa exchanges by developing new and strategic public and private sector alliances.”
By Aduragbemi Omiyale
Analysts at Coronation Research are projecting the inflation rate for February 2026 to moderate by 0.98 per cent to 14.12 per cent from the 15.10 per cent recorded in the preceding month.
The National Bureau of Statistics (NBS) is expected to release the inflation numbers today, Monday, March 16, 2026.
In a note released over the weekend, Coronation Research disclosed that the fall in the average prices of goods and services for last month would be impacted by a decline in the prices of food items.
“Our projection is supported by favourable base effects, easing food price pressures, and slight appreciation of the Naira,” a part of the report sighted by Business Post read.
The organisation revealed that the ongoing government interventions in the agricultural sector to improve food supply conditions are beginning to ease pressures within the food component of the consumer basket.
It further stated that “appreciation of the Naira to N1,363.40/1$ from N1,386.55/1$ in January is expected to reduce the cost of imported food items.”
However, it stressed that the ongoing US/Israel-Iran war was capable of reversing the deflationary trends because of the rising global energy prices.
“Also, the $200 million financing approved by the African Development Bank (AfDB) Group to scale up priority agricultural investments is expected to be disbursed in March, but its impact is likely to materialise in the medium to long term, with limited immediate effects on food supply and prices,” it said.
Coronation Research also disclosed that the recent energy market developments could keep core inflation sticky in the near term, as average Bonny Light crude oil prices rose to $72.33 per barrel in February 2026 from $68.04 per barrel in January.
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to order an investigation into the alleged N5.9 billion rebranding cost of the old Nigerian National Petroleum Corporation into the Nigerian National Petroleum Company (NNPC) Limited.
In a Sunday statement, SERAP urged Mr Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, alongside anti-corruption agencies, to look into the matter.
The group further urged the President to direct the panel to identify and invite officials who authorised the payment and contractors who handled the project for questioning.
“We’ve urged President Bola Tinubu to urgently direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly investigate the alleged expenditure of about ₦5.9 billion reportedly spent on the rebranding of the Nigerian National Petroleum Corporation (NNPC) to the Nigerian National Petroleum Company Limited (NNPCL).
“We also urged him to direct the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to identify the officials who approved and paid the amount, and the contractor(s) who collected the money, and to invite them for questioning,” the organisation stated.
SERAP further alleged that the NNPC reportedly paid N2.9 billion for incorporation expenses from petroleum product proceeds, while the National Petroleum Investment Management Services (NAPIMS) also charged N2.9 billion against crude oil revenue for the same purpose.
The group argued that the total cost was valued at about N5.9 billion, which was spent by the NNPCL for the rebranding.
“There ought to be full transparency and accountability regarding the reported ₦5.9 billion spent on rebranding NNPC to NNPCL.”
SERAP emphasised that Nigerians have the right to know who approved the expenditure, who received the money, and whether due process was followed.
“Any investigation into the rebranding project should determine whether the N5.9 billion represents value for money, lawful spending of public funds, and compliance with transparency and accountability requirements,” the statement concluded.
Business Post reports that NNPC became a limited liability company on July 1, 2022, under the Companies and Allied Matters Act (CAMA) in line with the implementation of the Petroleum Industry Act (PIA), which was signed into law on August 16, 2021, by late President Muhammadu Buhari.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the south for the fourth consecutive session after it shed 1.18 per cent on Friday, March 13.
The unlisted securities market recorded a loss despite closing without a price decliner, and ending with two price gainers led by Geo Fluids Plc, which gained 1o Kobo to sell at N3.10 per share compared with the previous day’s N3.00 per share. Industrial and General Insurance (IGI) Plc appreciated during the session by 2 Kobo to trade at 54 Kobo per unit versus Thursday’s closing price of 52 Kobo per unit.
When the market closed for the day, the market capitalisation lost N29.83 billion to close at N2.489 trillion compared with the N2.519 trillion it finished a day earlier, and the NASD Unlisted Security Index (NSI) crashed by 49.84 points to 4,160.46 points from 4,210.31 points.
Market activity improved yesterday, as the volume of transactions rose 179.5 per cent to 10.4 million units from 3.7 million units, but the value of trades declined by 68.4 per cent to N29.9 million from N95.0 million, while the number of deals weakened by 11.5 per cent to 46 deals from 52 deals.
Central Securities Clearing Systems (CSCS) Plc remained the most active stock by value on a year-to-date basis with 38.4 million units worth N2.4 billion, Okitipupa Plc followed with 6.4 million units traded at N1.1 billion, and FrieslandCampina Wamco Nigeria Plc transacted 6.3 million units for N584.3 million.
Resourcery Plc ended the trading session as the most traded stock by volume on a year-to-date basis with 1.1 billion units valued at N415.6 million, trailed by Geo-Fluids Plc with 130.8 million units valued at N504.5 million, and CSCS Plc with 38.4 million units worth N2.4 billion.
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