Nigeria's Capital Importation Hits $16.7bn in 2025

In the first nine months of 2025, Nigeria's capital importation hit a six-year high of $16.7 billion, with the second and third quarters contributing $11.1 billion. Foreign portfolio investment (FPI) represented 97% of the capital raised during this period.

The inflow for 2025 already surpassed the entire 2024 figure of $12.32 billion. The financial sector, particularly banking, attracted $3.1 billion, accounting for half of the total inflow across the three quarters.

Portfolio investments in Q3 alone reached $4.85 billion, while foreign direct investment (FDI) showed gradual improvement, totaling $600 million from Q1 to Q3. Despite the strong inflow, concerns about sustainability and transparency were raised, especially since the quarterly breakdowns were not published.

Senior government officials cited a figure of $21 billion for capital importation in the first ten months of 2025, indicating a dramatic rebound from 2024 and 2023 levels. The last comparable strength in foreign inflow was recorded in 2019, influenced by aggressive monetary tightening.