Foreign investors directed $10.37 billion into Nigeria in the first quarter of 2026, according to the National Bureau of Statistics (NBS). The figure marks a significant increase from $5.64 billion in the same quarter of 2025 and $6.44 billion in the preceding quarter. The NBS report stated, "In Q1 2026, total capital importation into Nigeria stood at US$10,371.90 million, higher than US$5,642.07 million recorded in Q1 2025, indicating an increase of 83.83 percent."
Portfolio investments dominated the inflows, accounting for $9.86 billion or 95.09 percent of the total. Foreign direct investment (FDI) made up only $135.08 million, or 1.3 percent, of the total capital imported. The NBS noted, "Portfolio investment ranked top with $9,862.34 million, accounting for 95.09 percent, followed by Other Investment with $374.48 million, accounting for 3.61 percent. Foreign direct investment recorded the least with $135.08 million, representing 1.30 percent."
The banking sector received the largest share of capital, with $7.55 billion, or 72.79 percent of total inflows. The financing sector attracted $2.43 billion, while production and manufacturing received $152.27 million. The United Kingdom was the top source of capital, contributing $5.08 billion, or 49.01 percent. The United States provided $3.18 billion, and South Africa contributed $983.83 million.
Standard Chartered Bank Nigeria facilitated the highest volume of inflows, handling $4.41 billion, or 42.56 percent of the total. Stanbic IBTC Bank processed $2.78 billion, and Rand Merchant Bank handled $930.82 million.
The surge in capital inflows is largely speculative, with 95 percent going into short-term portfolio investments rather than long-term productive sectors. Foreign direct investment, which creates jobs and builds infrastructure, made up just 1.3 percent of the total. This means the economy remains dependent on volatile financial flows rather than sustainable industrial growth. The concentration in banking and finance underscores a preference for quick returns over nation-building investments.
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