ECOWAS Investors Contribute 0.01% to Nigeria's Capital

In the first nine months of 2025, Nigeria attracted a total of $16.78 billion in foreign capital, with ECOWAS-based investors contributing a mere $2.16 million, representing only 0.01% of the total inflow, according to the latest capital import data released by the National Bureau of Statistics (NBS). This figure shows a decline of 8.1% year-on-year from $2.35 million in the same period in 2024.

Among the three Sahel countries that announced their withdrawal from ECOWAS, Burkina Faso contributed $0.05 million, Mali recorded $0.01 million, and Niger had no inflow, collectively accounting for $0.05 million in 2025. The total inflow from ECOWAS countries rose to $2.21 million, representing 0.013% of Nigeria's total capital import.

The inflow was highly concentrated in the third quarter of 2025, driven primarily by Ghana's contribution of $1.50 million. Despite political realignments involving Mali, Burkina Faso, and Niger, the data suggests that regional capital engagement remains negligible.