Oyalowo Says JP Morgan’s Planned Entry Signals Growing Investor Confidence in Nigeria

According to a video posted by Trust TV on Sunday, October 25, 2026, Ayo Oyalowo has said that the planned arrival of JP Morgan in Nigeria indicates that the country’s economy is becoming more attractive to foreign direct investment and showing signs of stabilisation.

Oyalowo made the remarks during an appearance on the Sunday Politics programme, where he defended the economic policies of President Bola Tinubu’s administration and argued that improvements at the macroeconomic level would eventually benefit ordinary Nigerians.

During the discussion, the host noted that institutions such as the World Bank had acknowledged positive developments in Nigeria’s macroeconomic performance but argued that many citizens continued to struggle with hunger and poverty.

However, Oyalowo challenged the suggestion that macroeconomic stability and the living conditions of ordinary Nigerians should be treated as separate issues.

He said, “When the macro is stable, that’s when you can now plan for a long-term investment, and then the results are beginning to trickle down. Just last week, this week that just ended yesterday, JP Morgan is coming into Nigeria.

“It tells you something that Nigeria’s economy is now attractive to attract foreign direct investment. Unlike just portfolio investment, we’re now attracting real investment.”

The APC campaign spokesperson also claimed that a major oil company that had previously left Nigeria was preparing to return, although the company’s name was unclear in the recording.

According to him, increased investment would eventually translate into more employment opportunities and regular salary payments, allowing households to experience the benefits of economic growth.

He explained that when workers receive their salaries, the impact extends beyond the individuals employed, as their spouses, children, siblings and other family members may also benefit from the income.

Oyalowo further pointed to the Central Bank of Nigeria’s recent interest rate reduction, describing it as evidence of improving economic conditions. He argued that the decision suggested the economy was expanding while inflation was easing.

He also maintained that prices were no longer as high as they had been three years earlier, using the comparison to support his argument that the country’s economic situation was gradually improving.

While the host acknowledged some of Oyalowo’s points, he maintained that the relief reaching ordinary Nigerians was progressing too slowly, leaving many households under continued financial pressure.

In response, Oyalowo said economic improvements would take time to translate into noticeable changes in people’s daily lives. However, he declined to provide a specific timeline for when Nigerians could expect to experience more substantial relief.

His comments reflect his assessment of the Tinubu administration’s economic policies, while the programme did not independently establish the claims made about the planned investment, the returning oil company or the pace of economic recovery.

Watch the video from 00:11:14–00:11:24 HERE

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