In Rwanda, Tinubu pitches the Nigerian business case to the rest of Africa

*President Bola Ahmed Tinubu administration takes economic reforms to Kigali to make perhaps, the most important and compelling pitch of his Presidency — an investor proposition of promise and a full-blown business case of opportunity

Sunday Dare

From Equatorial Guinea to Tanzania, from Accra to Addis Ababa, and now, from Nairobi to Kigali, President Bola Ahmed Tinubu, with sartorial elegance and swashbuckling confidence, is traversing Africa preaching Nigeria’s reform story to the world.

While the echoes of President Tinubu’s economic reforms have since reverberated across every nook and cranny of Africa, he now personally berths in Kigali to make perhaps, the most important and compelling pitch of his Presidency — an investor proposition of promise and a full blown business case of opportunity.

NCC assures consumers of ongoing efforts at addressing connectivity issues, QoE

The message is simple: Nigeria remains one of the most profitable investment destinations on earth.

It is one of the few places globally where return on investment in properly scaled businesses can rise up to 600 percent post-startup.

In several sectors, investors have recorded growth trajectories far beyond what conventional business planning models projected at entry point.

Most global feasibility and business planning tools project returns in the region of 20–25% over time.

Nigeria, however, has repeatedly defied those assumptions because of one defining factor: scale.

Scale of population. Scale of unmet demand. Scale of consumption.Scale of expansion and now, scale of reform.

Nothing prepared MTN Group for the scale of market dominance and profitability it would eventually achieve after entering Nigeria in 2001. Business projections may have anticipated bold performance, but the Nigerian market delivered returns and growth levels far beyond initial expectations.

What began as a calculated expansion into an emerging market rapidly transformed into one of the company’s most profitable operations anywhere in the world.

In only a few years, the margins, subscriber growth, and revenue explosion fundamentally altered MTN’s continental growth trajectory.

Today, MTN Nigeria generates trillions of naira in annual revenue and remains one of the most valuable companies on the Nigerian Exchange, underscoring the sheer commercial depth of the Nigerian market.

Likewise, French owned MultiChoice, now promoters of DStv, may have projected cautious subscriber growth and conservative margins when entering the Nigerian market.

Instead, Nigeria became one of the company’s strongest commercial bases, powered by population scale, aspirational consumption, urban expansion, and the sheer dynamism of Nigerian demand.

That is the paradox called Nigeria.

Its challenges are visible, sometimes loud, sometimes exaggerated. But beneath them lies one of the deepest consumer markets in the world, a fiercely entrepreneurial population, expanding infrastructure opportunities, vast mineral deposits, a growing technology ecosystem, and unmatched demographic energy on the African continent.

This is the story President Tinubu now takes to Africa CEO Forum 2026.

And this is why Kigali matters.

*Dare is the Special Adviser on Media and Public Communications to President Bola Tinubu of Nigeria.

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