Nigeria’s capital inflow up by 26.6% to $6.44bn in Q4 2025, says NBS
Nigeria recorded a total capital importation of $6.44 billion in the fourth quarter of 2025, representing a 26.61 per cent year-on-year increase compared to $5.09 billion recorded in the corresponding period of 2024.
This is according to the latest Capital Importation report released by the National Bureau of Statistics (NBS) on Wednesday, which also showed a quarter-on-quarter increase of 7.13per cent from $6.01 billion in Q3 2025.
The data highlights a sustained recovery in foreign capital inflows into Nigeria, largely driven by strong portfolio investments and increased activity in the banking sector.
The report read, “In Q4 2025, total capital importation into Nigeria stood at $6,443.48 million, higher than $5,089.16 million recorded in Q4 2024, indicating an increase of 26.61per cent on a year-on-year basis. In comparison to the preceding quarter, capital importation increased by 7.13per cent from $6,014.77 million in Q3 2025.”
A breakdown of the data shows that portfolio investment remained the dominant driver of capital inflows, accounting for $5.49 billion or 85.14per cent of total capital imported during the quarter.
Foreign Direct Investment (FDI) contributed $357.80 million, representing just 5.55per cent, while other investments stood at $599.65 million or 9.31per cent of total inflows.
Further insights from the chart on page 5 show that money market instruments accounted for a significant share of portfolio inflows at $3.08 billion, while bonds contributed $1.97 billion, reflecting continued investor preference for short-term and fixed-income instruments.
The relatively low share of FDI suggests that long-term investments remain weak despite improving macroeconomic signals.
Sectoral analysis indicates that the banking sector remained the largest recipient of foreign capital, attracting $3.85 billion, which represents 59.75per cent of total inflows.
The financing sector followed with $1.94 billion or 30.15per cent, while the production/manufacturing sector attracted $308.93 million, accounting for 4.79per cent.
Other sectors, including telecommunications, agriculture, and oil and gas, recorded significantly lower inflows, showing the concentration of foreign capital in financial services.
This pattern suggests that investors continue to favour liquid and financial assets over real sector investments.
In terms of origin, the United Kingdom emerged as the largest source of capital inflow, contributing $3.73 billion or 57.94per cent of total capital imported.
The United States followed with $837.91 million (13.00per cent), while South Africa accounted for $516.96 million (8.02per cent).
Additional data shows that Belgium and Mauritius also featured among the top contributors, reflecting Nigeria’s continued reliance on traditional financial hubs for foreign capital.
On a bank-by-bank basis, Stanbic IBTC Bank Plc recorded the highest capital importation with $2.23 billion, accounting for 34.58per cent of total inflows.
It was followed by Standard Chartered Bank Nigeria Ltd with $1.85 billion (28.75per cent) and CitiBank Nigeria Ltd with $840.72 million (13.05per cent).
Other banks, including Access Bank, Rand Merchant Bank, and First City Monument Bank, recorded moderate inflows.
