Nigeria Climbs Africa Investment Ladder, Overtakes Four Nations

Nigeria has climbed four places to eighth position in Africa’s latest investment risk ranking, overtaking Rwanda, Tanzania, Kenya and Namibia in the 2026 assessment.

The improvement makes Nigeria the biggest climber among the 19 African economies assessed in the ranking, which measures relative investment attractiveness using five key indicators.

Nigeria’s stronger position was driven by improvements in economic strength, fiscal strength and external vulnerability, according to the assessment.

The latest ranking puts Nigeria ahead of Rwanda, Tanzania, Kenya and Namibia, while Mauritius emerged as the highest-ranked African economy. South Africa, which occupied the top position in the previous edition, dropped one place amid a weaker economic-growth outlook.

Nigeria’s rise comes against the backdrop of a series of economic reforms introduced since President Bola Ahmed Tinubu assumed office in 2023. The reforms include the removal of the petrol subsidy, changes to the foreign-exchange market and electricity tariff reforms.

The Federal Government has maintained that the measures were necessary to address long-standing fiscal and economic challenges, improve public finances and create a more attractive environment for investors.

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The improved ranking also comes as Nigeria records stronger economic growth. The economy expanded by 3.89 per cent in the first quarter of 2026, while average quarterly growth between the third quarter of 2023 and the first quarter of 2026 stood at about 3.46 per cent.

Nigeria’s improved position, however, does not mean the country has overtaken the four nations in terms of actual foreign investment inflows. The ranking measures relative investment risk and investability, rather than the total amount of foreign direct investment received.

Separate investment data showed that Nigeria attracted about $4.01 billion in foreign direct investment in 2025, representing a substantial increase from the previous year.

Nigeria also recorded a sharp rise in overall capital inflows in 2025, although a significant portion of the increase came from foreign portfolio investment rather than long-term direct investment.

The distinction is important because portfolio investors can respond more quickly to interest rates, exchange-rate movements and financial-market conditions, while foreign direct investment generally involves longer-term commitments to businesses, infrastructure and productive assets.

Despite the improvement in the investment ranking, Nigeria continues to face significant economic challenges, including high living costs, inflationary pressures, infrastructure deficits, foreign-exchange concerns and rising public debt.

The latest assessment therefore presents a mixed picture, with Nigeria’s relative position on key investment-risk indicators improving even as significant fiscal and structural challenges remain.

The country’s four-place rise nevertheless places Nigeria among the African economies that recorded the most significant improvement in relative investment attractiveness in the latest assessment.

Nigeria Climbs Africa Investment Ladder, Overtakes Four Nations

Ogun Crash: Nine Die As Bus Collides With Truck On Ijebu-Ode-Ore Road

Nine people have been killed in a fatal road crash in Ogun State after a commercial bus collided with a truck along the Ijebu-Ode–Ore Expressway.

The crash occurred at about 4:55 p.m. on Monday around the Bethel area of the Ijebu-Ode Unit Command of the Federal Road Safety Corps (FRSC).

The accident involved a white Toyota Hiace commercial bus belonging to Delta Line, with registration number 14B-299DT, and a white Sino Truck operated by Bill Gas Solution Ltd, with registration number AAB162XD.

The FRSC Ogun State Sector Command confirmed that nine people were involved in the crash and that all nine died.

The victims comprised three males and six females, according to the road safety agency.

The crash occurred during rainfall, leaving the road surface wet at the time of the incident. A preliminary investigation by the FRSC identified speed violation as the probable cause of the collision.

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The agency’s rescue team reportedly arrived at the scene at about 4:58 p.m., just three minutes after the crash was reported, and immediately commenced rescue and recovery operations.

The bodies of the victims were evacuated and deposited at the General Hospital morgue in Ijebu-Ode, while the two vehicles were towed to the Ilese Police Station by the Nigeria Police Force Motor Traffic Division for further investigation.

The Ogun State Sector Commander of the FRSC, Corps Commander Oludare Ogunjobi, expressed concern over the continued dangers posed by speeding, particularly during rainfall.

Ogunjobi urged motorists, especially commercial vehicle operators, to obey speed limits, maintain safe following distances and exercise greater caution on wet roads.

He warned that speeding on wet roads increases the risk of losing control because reduced tyre grip and visibility can make it more difficult for drivers to stop or manoeuvre safely.

The latest Ogun road crash adds to a series of fatal accidents recorded on major highways in the state, with the FRSC repeatedly urging motorists to comply with traffic regulations and avoid dangerous driving practices.

The road safety agency condoled with the families of the nine victims and urged motorists to make safety a priority, particularly during periods of rainfall.

Ogun Crash: Nine Die As Bus Collides With Truck On Ijebu-Ode-Ore Road

Gunmen Open Fire At Lagos Bus Stop, Kill NURTW Member, Injure Three

A member of the National Union of Road Transport Workers (NURTW), identified as Kamoru Omokoye, popularly known as Zobo, has been shot dead at Abijo Bus Stop in the Ibeju-Lekki area of Lagos State.

Omokoye was reportedly attacked around 9am on Sunday by two men who arrived at the bus stop in an unregistered Lexus RX 350 before opening fire on him.

A police source who confirmed the incident said the victim was shot in the head during the attack. The assailants reportedly sped away immediately after the shooting.

Omokoye was rushed to the Federal Medical Centre, Epe, for treatment but was pronounced dead by a doctor on duty.

Following the incident, detectives visited the scene and combed the area as part of efforts to identify and arrest those responsible for the Lagos bus stop shooting.

The Lagos State Police Public Relations Officer, Abimbola Adebisi, also confirmed the incident, saying the command had commenced an investigation.

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While the police source described the attackers as suspected cultists, the exact motive for the killing has not been officially established.

An anti-cultism advocacy platform, Naija Confra, reported that Omokoye was sitting at a drinking spot near the bus stop when the attackers arrived and opened fire. The report said other people at the location fled as the gunmen shot at the gathering.

At least three other people were reportedly wounded in the shooting.

Omokoye was said to have previously worked around Awoyaya Bus Stop before moving to GRA Bus Stop. He was also reportedly the father of an eight-month-old child.

The latest incident has heightened concerns about violent attacks around transport corridors and public gathering points in parts of Lagos State, particularly where criminal or cult-related activities have previously been reported.

Police authorities have yet to announce any arrest in connection with the killing.

The investigation is expected to focus on identifying the attackers, establishing their motive and determining whether the killing was linked to a cult-related dispute, a transport-union conflict or another criminal motive.

Residents have also been urged to provide useful information to the police that could assist in identifying those responsible for the killing of the NURTW member.

Gunmen Open Fire At Lagos Bus Stop, Kill NURTW Member, Injure Three