China-Nigeria Capital Inflows Drop 41% Despite $20bn Pledge

In the first quarter of 2026, capital inflows from China to Nigeria fell by 40.9%, dropping to $5.55 million from $9.39 million in Q1 2025, according to the National Bureau of Statistics’ Capital Importation Report. This decline occurred despite the Nigerian Federal Government's announcement of securing over $20 billion in investment commitments from Chinese investors across various sectors, including manufacturing, energy, mining, and agriculture.

Joseph Tegbe, the current Minister of Power and former Director General of the Nigeria-China Strategic Partnership, stated that these investments aim to enhance food security, create jobs, and promote industrial development. However, the latest data indicates that these commitments have not yet resulted in increased capital inflows.

China's contribution to Nigeria's total capital importation decreased from 0.17% in Q1 2025 to 0.05% in Q1 2026, even as Nigeria's overall capital importation rose significantly to $10.37 billion, marking an 83.83% year-on-year increase.