Nigeria's Capital Importation Hits $10.37bn in Q1 2026

In the first quarter of 2026, Nigeria's capital importation increased to $10.37 billion, marking a 61% rise from the previous quarter's $6.44 billion, according to the National Bureau of Statistics. This growth was primarily fueled by a surge in portfolio investments, which accounted for $9.86 billion, or 95.1% of total capital import.

Despite this strong overall inflow, foreign direct investment (FDI) remained subdued, contributing only 1.3% or $135.08 million of the total. The banking industry was the largest beneficiary, attracting $7.55 billion, representing 72.8% of total capital import, followed by the financial sector with $2.43 billion and the manufacturing sector with $152.27 million.

The United Kingdom was the largest source of foreign capital, providing $5.08 billion, while the United States and South Africa contributed $3.18 billion and $983.83 million, respectively. Fitch Ratings noted that the banking sector remains strong despite challenges, with expectations of a reclassification cycle affecting asset quality.