The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has highlighted 19 investments and proposed projects across key sectors to counter opposition claims that the President’s economic reforms are driving investors away from Nigeria.

In a post on X on Saturday, Onanuga cited developments in banking, oil and gas, power, mining, telecommunications, technology, data centres, ports and logistics between 2025 and 2026 as evidence of continued investor interest in the country.

He criticised opposition figures for allegedly ignoring developments he said reflected progress under the Tinubu administration.

“Read how President Tinubu is scaring away investors, according to the hirelings of the opposition, who have become deniers of massive national progress,” Onanuga wrote.

“They and their masters refuse to acknowledge what the whole world can see. To them, Tinubu has made Nigeria worse since May 2023. Fela Anikulapo Kuti aptly called them opposite people.”

In the banking sector, Onanuga cited JPMorgan’s application for a merchant banking licence, Absa’s consideration of converting its Nigerian representative office into a merchant bank, and Standard Bank Group’s planned investment in digital financial services firm OPay.

JPMorgan reportedly deposited N50bn with the Central Bank of Nigeria as part of the regulatory process for its proposed merchant banking licence, which it hopes to secure by the end of 2026 or early 2027.

Absa is considering expanding its Nigerian operations into merchant banking, while Standard Bank Group has signed an agreement to invest up to $200m in OPay. The transaction is expected to close around the fintech company’s planned initial public offering, subject to the necessary approvals.

In the oil and gas sector, the presidential aide highlighted the Ima gas project being developed by TotalEnergies and AMNI, ExxonMobil’s investments in deepwater fields and Shell’s proposed Bonga South West development.

TotalEnergies and AMNI announced a final investment decision on the Ima gas project in September 2026, with production expected to reach 350 million cubic feet of gas daily from 2028.

Onanuga also cited ExxonMobil’s reported $1.5bn commitment to deepwater projects between 2025 and 2027, alongside a possible $7bn to $8bn investment in the Owowo development.

Shell’s proposed Bonga South West project, estimated at $20bn, was also included, with a final investment decision targeted for 2027.

In the power sector, he pointed to the $2.3bn Presidential Power Initiative involving Siemens Energy, which includes a 480-megawatt Abeokuta substation expected to be completed by the end of 2026.

The mining and industrial sector featured a $250m lithium processing plant in Nasarawa State, reportedly opened in July 2026 by Chinese firms Jiuling and Canmax; Indorama’s $265m fertiliser project completed by Daewoo E&C; a proposed solar-powered steel plant by African Industries Group in Niger State; and a memorandum of understanding for an initial $100m investment by 3TREES.

On telecommunications and digital infrastructure, Onanuga listed Equinix’s $22m LG3 data centre in Lagos, which was scheduled for the first quarter of 2026, although its opening was not confirmed in the information provided.

He also cited the first phase of MTN’s Dabengwa data centre, launched in July 2025, and Airtel’s planned $120m data centre with a capacity of 38 megawatts at Eko Atlantic.

Other developments included Starlink’s reported 98,642 subscribers in the second quarter of 2026, making it Nigeria’s second-largest internet service provider according to the figures cited, and Amazon Leo’s reported acquisition of an operating licence to roll out services in the country.

In the maritime and logistics sector, Onanuga highlighted APM Terminals’ $600m investment pledge announced in May 2026, as well as preliminary agreements signed by DP World in October 2026 concerning the proposed Ogun Deep Sea Port and a special economic zone.

He also cited a $200m partnership involving Abu Dhabi Ports and the Lekki corridor, announced in May 2025.

The list was presented as evidence against claims that the Tinubu administration’s economic policies had weakened Nigeria’s investment appeal since the President assumed office in May 2023.

However, the developments cited are at different stages, ranging from completed facilities and announced investment commitments to proposals under consideration and projects awaiting regulatory approvals or final investment decisions.

The list therefore includes both investments already made and projects whose full implementation remains subject to further decisions and approvals.