Nigeria Defends Sovereignty and Investment Climate, Blasts US Senator Marco Rubio's Remarks

Former Southeast Spokesman to President Bola Ahmed Tinubu, Denge Josef Onoh, has strongly faulted recent statements by a United States of America Senator, Marco Rubio, concerning Nigeria’s regulatory environment and investment climate, asserting that the West African nation is a sovereign state rather than the "American Wild West."

In a strongly worded statement released in Abuja, Onoh slammed the U.S. lawmaker's comments as an inaccurate, sweeping narrative built on isolated regulatory incidents. He maintained that verified macroeconomic data paints a vastly different picture, confirming Nigeria as a secure, highly lucrative, and rapidly expanding hub for foreign direct investment (FDI).

Addressing Senator Rubio’s claims that Nigeria's regulatory framework deters global corporations, Onoh highlighted hard figures reflecting boardroom confidence from international investors:

Surging FDI: U.S. FDI in Nigeria surged to $7.9 billion by the close of 2024, marking a significant 25% year-over-year increase.

Robust Bilateral Trade: Total trade volume between Nigeria and the United States scaled up to $14.8 billion in 2025.

Open Ownership Laws: Nigeria's investment laws legally permit 100% foreign ownership across virtually all major economic sectors, actively welcoming global capital.

Setting the Record Straight on Enforcement

Onoh also dismissed the senator's characterization of law enforcement actions against foreign tech executives as "arbitrary detention," specifically referencing the multi-billion-dollar money laundering and tax evasion charges brought against cryptocurrency platform executives in 2024.

"No sovereign nation permits foreign corporations to bypass domestic financial compliance or tax liabilities," Onoh stated, emphasizing that Nigeria will not allow foreign nationals to use the country for financial crimes under the guise of doing business.

He noted that the Nigerian government under President Bola Ahmed Tinubu demonstrated institutional good faith by eventually withdrawing personal charges in October 2024 on humanitarian grounds—a move he said showcased the fairness and diplomatic flexibility of Nigeria's legal system.

To guarantee seamless operations, Onoh encouraged prospective international investors to bypass external political rhetoric and leverage established Nigerian institutional frameworks:

Ministry of Foreign Affairs (MFA): For vetting local state protocols, securing formal corporate invitations, and obtaining business visa authorizations.

Economic and Financial Crimes Commission (EFCC): To run rigorous background checks on local entities and ensure absolute compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.

Nigerian Investment Promotion Commission (NIPC) One-Stop Investment Center: To utilize an integrated hub coordinating 27 different government regulatory agencies under a single umbrella for streamlined business setups.

Onoh insisted that legitimate capital has nothing to fear in Nigeria, maintaining that the country's sovereignty is non-negotiable. He challenged Senator Rubio to retract his remarks and jokingly suggested he instead recommend Nigeria for a peace prize.