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

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

Ondo Air Tragedy: Soldiers, Families Among 32 Killed In NAF Crash

A Nigerian Air Force (NAF) aircraft has crashed in Igbokoda, Ondo State, killing all 32 people on board, including military personnel, family members and seven crew members.

The aircraft, an ATR-42, was carrying 25 passengers and seven crew members when it crashed into a swampy area opposite the Naval Base in Igbokoda, Ilaje Local Government Area, on Monday morning.

The aircraft was reportedly travelling from Benin, Edo State, to Lagos on a routine military mission when communication with air traffic controllers was lost at about 9:13 a.m.

Efforts to re-establish contact with the aircraft reportedly failed before the aircraft disappeared from radar. Its wreckage was later located in the difficult-to-access swamp near the naval facility.

The victims included Nigerian military personnel and members of their families, with reports indicating that some of the family members were children returning to school. The presence of family members on the flight has added to the grief surrounding the Ondo plane crash.

The crash site, located in a swampy and waterlogged area, posed significant challenges to rescuers and recovery teams. Military personnel, emergency responders and local residents were involved in efforts to reach the wreckage and recover the victims.

Ondo State Governor Lucky Aiyedatiwa confirmed that no survivor had been found at the crash site. Responders reportedly recovered parts of the aircraft, military uniforms and identity cards from the area while efforts continued to retrieve the wreckage.

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The exact cause of the NAF aircraft crash remains unknown.

Early reports raised the possibility of adverse weather conditions, while another account suggested that the aircraft could have suffered a technical or mechanical problem. Neither explanation has been established as the cause of the crash, and officials have urged the public to await the outcome of the investigation.

The loss of communication between the aircraft and air traffic controllers is expected to form a major part of the investigation, alongside the aircraft’s maintenance history, technical condition, weather conditions, flight-control communications and data from the aircraft’s flight recorder.

President Bola Ahmed Tinubu has ordered a thorough investigation into the NAF plane crash, directing the Nigerian Air Force to establish what led to the tragedy.

Tinubu expressed condolences to the families of the victims and the Nigerian Armed Forces, describing the incident as a painful loss to the country.

The President also declared three days of national mourning for the Air Force personnel killed in the crash and directed that national flags be flown at half-mast across the country.

The Nigeria Safety Investigation Bureau (NSIB) has indicated its readiness to provide technical assistance to the military investigation if requested. Because the aircraft was operated by the military, the primary investigation is expected to be handled by the Nigerian Air Force.

Investigators are expected to examine the aircraft’s flight data, maintenance records and communication with air traffic control to determine what happened during the final stages of the flight.

The Nigerian Air Force is also expected to release the names of the deceased after completing the process of notifying their families.

The Ondo NAF crash is one of the deadliest recent military aviation accidents in Nigeria and has renewed concerns about the safety, maintenance and operational readiness of military aircraft.

For now, attention remains focused on the recovery of the victims, identification of those who died and the investigation that will determine how the aircraft carrying 32 people came down in the Ondo wetlands.

Ondo Air Tragedy: Soldiers, Families Among 32 Killed In NAF Crash