Nigeria’s capital importation hits $5.64bn, says NBS

In the first quarter of 2025 (Q1 2025), Nigeria’s total capital importation reached approximately $5.64 billion, reflecting an increase of 67.12 percent compared to the $3.376 billion recorded in Q1 2024.

The Federal Capital Territory (FCT) emerged as the leading destination for foreign investment, attracting $3.04 billion, while Lagos State followed with $2.54 billion. This development marks the first occurrence of Lagos losing its status as the primary preferred destination for foreign investment in the country.

Ogun State attracted $7.95 million in investments, positioning it behind Lagos, while Oyo State and Kaduna State received $7.81 million and $4.06 million, respectively. These figures were reported by the National Bureau of Statistics (NBS) in its Capital Importation Report for the first quarter of 2025, released on Tuesday.

The report notes that, relative to the previous quarter, capital importation increased by 10.86 percent from $5.09 billion in Q4 2024. Portfolio Investment constituted the largest segment, amounting to $5.20 billion, which represents 92.25 percent of the total. Other Investment accounted for $311.17 million (5.52 percent), while Foreign Direct Investment contributed the least with $126.29 million, representing 2.24 percent of total capital importation in Q1 2025.

The NBS indicated that the Banking sector recorded the highest inflow at $3.13 billion, representing 55.44 percent of the total capital imported in this quarter. This was followed by the Financing sector, which received $2.10 billion (37.18 percent), and the Production/Manufacturing sector with $129.92 million (2.30 percent).

The report highlighted that the majority of capital imports originated from the United Kingdom, amounting to $3.68 billion, or 65.26 percent of the total, followed by the Republic of South Africa with $501.29 million (8.88 percent) and Mauritius with $394.51 million (6.99 percent).

The NBS further detailed that Abuja (FCT) was the top destination, accounting for $3.05 billion (54.11 percent) of the total capital imported, with Lagos State at $2.56 billion (45.44 percent) and Ogun State at $7.95 million (0.14 percent). Oyo and Kaduna States received $7.81 million and $4.06 million, respectively.

The report identified Standard Chartered Bank Nigeria Ltd as the recipient of the highest capital importation in Q1 2025, with $2.10 billion (37.29 percent). This was followed by Stanbic IBTC Bank PLC and Citibank Nigeria Limited, receiving US1398.38 million and $1.05 billion (18.66 percent), respectively.