Nigeria House of Representatives Advances Bill for CBI Program

Nigeria is preparing to introduce a new path to citizenship for foreign investors, as lawmakers push forward a bill aimed at attracting international capital through investment migration.

The Citizenship by Investment (CBI) bill, introduced in the House of Representatives and backed by Deputy Speaker Benjamin Kalu, proposes a new category of nationality for high-net-worth individuals who invest directly in the Nigerian economy.

The bill has already passed its second reading in the House and is part of a broader constitutional reform package.

It sets the stage for Nigeria to join a growing list of countries that offer citizenship or residency in exchange for economic contributions, following models already in place in Turkey, Egypt, and the Caribbean.

New Citizenship Category Proposed for Investors in Strategic Sectors

If passed, the legislation would create a new citizenship class specifically for foreign investors.

While the minimum investment amount has not yet been finalized, lawmakers have confirmed that qualifying investments will need to target key sectors driving Nigeria’s long-term development, including:

• Technology and innovation
• Infrastructure and transport
• Energy and utilities

This pathway would bypass the traditional, time-intensive residency model, allowing citizenship to be granted directly based on a verified financial contribution and sector alignment.

The bill aligns with international investment migration practices and is designed to maximize economic benefit for the host country.

What the CBI Bill Could Mean for Nigeria’s Economy

The bill is currently under review at the committee level, where it will undergo public hearings and expert consultations.

If it passes this stage, it will return to the House for final approval before heading to the Senate. Because this is a constitutional amendment, it will also require ratification by at least 24 state assemblies before it can be enacted.

Supporters are optimistic, especially as the ruling APC party maintains a strong majority across both the federal and many state legislatures.

If enacted, the bill would:

• Provide a fast-track citizenship option for qualifying foreign investors
• Attract foreign direct investment into high-impact industries
• Help diversify Nigeria’s economy beyond oil dependency
• Stimulate job creation and innovation through targeted investment
• Strengthen Nigeria’s standing as a regional economic gateway

The initiative arrives at a time when emerging-market investment migration is gaining attention. For Nigeria, the proposed CBI program represents an opportunity to boost strategic development and deepen foreign engagement in Africa’s largest economy.