By Adefolarin A. Olamilekan
Two years after President Bola Ahmed Tinubu assumed office on May 29, 2023, Nigeria’s foreign policy under his administration has taken a distinctive shift—firmly rooted in economic diplomacy.
This foreign policy pivot was initiated by significant domestic reforms, such as the removal of fuel subsidies and the unification of foreign exchange windows. These measures aligned with President Tinubu’s international narrative that “Nigeria is open for business and fully integrated into the global economy.”
Despite persisting insecurity in Nigeria and across West Africa, the administration has concentrated its foreign engagements on bilateral and multilateral economic partnerships, asserting that economic growth is the most sustainable path to regional stability and national prosperity.
The “4Ds Doctrine”: Nigeria’s New Foreign Policy Philosophy
According to Minister of Foreign Affairs, Yusuf Tuggar, the administration’s foreign policy is guided by the “4Ds doctrine”—Democracy, Development, Demography, and Diaspora. This framework aims to protect Nigeria’s strategic interests while repositioning it as a proactive and influential player in global economic affairs.
Within the first two years of the administration, President Tinubu undertook approximately 35 foreign trips, with destinations including China, India, France, the United States, the Netherlands, and Saudi Arabia. These visits were strategically aligned with the government’s drive to attract Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI).
Key Milestones in Economic Diplomacy
In September 2024, during a state visit to China, the President secured several bilateral agreements focusing on rail infrastructure, digital transformation, agricultural development, and national security enhancement.
Similarly, in April 2024, the Netherlands pledged a $250 million investment in Nigeria, alongside a $100 million waste-to-wealth industrial facility in Lagos State.
Nigeria’s growing role in continental and global economic blocs also came to the fore. In April 2025, Nigeria formally gazetted its Preferential Tariff Concessions under the African Continental Free Trade Area (AfCFTA), becoming the 23rd country to do so. Just months earlier, in January 2025, Nigeria joined the BRICS economic bloc as an official partner—granting it access to the BRICS New Development Bank and new trade and finance corridors.
These developments, supporters argue, reflect a diplomatic strategy that is both economically grounded and regionally pragmatic.
Evaluating the Outcomes
Economic analysts and diplomats have credited President Tinubu with rebranding Nigeria’s economic diplomacy, even as they express caution about the gap between rhetoric and results. Critics argue that while the messaging has been bold, it often leans on slogans rather than well-structured frameworks for international trade and investment.
Nevertheless, investor confidence appears to be improving. Supporters say the President’s high-level engagements have contributed to increased FDI flows, improved macroeconomic signals, and efforts to reduce currency volatility—laying the groundwork for private-sector-led growth.
The administration’s decision to pursue bilateral economic ties—even in regions facing instability—has been praised as a realistic foreign policy outlook, one that reflects Nigeria’s domestic realities and long-term economic priorities.
The Road Ahead
As Nigeria marks two years of the Tinubu administration, several critical questions arise:
- How vital is economic diplomacy in addressing Nigeria’s economic challenges?
- What measurable FDI and FPI inflows can be directly linked to Tinubu’s foreign trips and agreements?
- What structural or geopolitical challenges threaten the sustainability of this diplomacy-driven economic policy?
In a global economic environment defined by complexity and competition, President Tinubu’s economic diplomacy is a calculated attempt to reposition Nigeria—not just as a regional power, but as a credible global economic actor.
Still, consistency and clarity will be essential if these diplomatic gains are to translate into enduring economic transformation at home.
