NBS Faces Scrutiny Over Missing Capital Import Data

The National Bureau of Statistics (NBS) has not released capital importation data for the second, third, and fourth quarters of 2025, which has raised questions about transparency and investor confidence. The last available data for Q1 2025 showed total capital importation at $5.64 billion.

In contrast, Dr. Jumoke Oduwole, the Minister of Industry, Trade, and Investment, reported approximately $21 billion in capital importation for the first ten months of 2025, compared to $12 billion in 2024 and $4 billion in 2023.

Olayemi Cardoso, the Governor of the Central Bank of Nigeria, also noted a 70% increase in foreign capital inflow, reaching $20.98 billion in the same period. However, the absence of quarterly breakdowns raises concerns about the reliability of these figures, as they primarily reflect portfolio investments rather than genuine foreign direct investment (FDI), which was only $126 million in Q1 2025.

The delay in data publication has led to speculation and diminished trust in economic reporting.