Nigeria attracted $10.37 billion in capital importation in the first quarter of 2026, marking an 83.8% increase compared to the $5.64 billion recorded in the corresponding period of 2025, as foreign investors ramped up purchases of money market instruments and bonds.
This is according to the latest data released by the National Bureau of Statistics (NBS) on Wednesday.
The data showed that capital inflows also rose by 61% quarter-on-quarter from $6.44 billion recorded in the fourth quarter of 2025, underscoring growing investor appetite for Nigerian financial assets.
The report read, “In Q1 2026, total capital importation into Nigeria stood at $10.37 billion, higher than $5.64 billion recorded in Q1 2025, indicating an increase of 83.83%. In comparison to the preceding quarter, capital importation increased by 60.97% from $6.44 billion in Q4 2025.”
Portfolio investment remained the primary driver of capital importation during the quarter, accounting for $9.86 billion or 95.1% of total inflows.
- The figure represents an 89.5% increase from the corresponding period of 2025 and a 79.8% rise from the previous quarter. Within the category, money market instruments attracted $6.50 billion, while investments in bonds stood at $3.23 billion. The two asset classes jointly accounted for over 98% of portfolio inflows.
- In contrast, Foreign Direct Investment (FDI) remained weak despite a marginal annual improvement. FDI inflows stood at $135.08 million, representing just 1.3% of total capital importation during the period. While this was 7% higher than the level recorded a year earlier, it declined by more than 62% from the previous quarter.
- Other investments contributed $374.48 million, accounting for 3.6% of total inflows. Loans made up the bulk of this category at $364.43 million, while trade credits accounted for $10 million.
The latest figures highlight the continued preference of foreign investors for short-term financial assets over long-term productive investments in the economy.
Banking sector captures lion’s share
Sectoral analysis showed that the banking industry remained the biggest destination for foreign capital.
- The sector attracted $7.55 billion, representing 72.8% of total capital imported into the country during the quarter. The financing sector followed with $2.43 billion or 23.4%, meaning the two sectors accounted for more than 96% of all inflows recorded during the period.
- The production and manufacturing sector received $152.27 million, while investments in shares stood at $75.34 million.
- Other sectors attracted significantly smaller amounts. Trading received $65.79 million, agriculture attracted $37.28 million, while information technology services recorded $11.33 million. Telecommunications received $7.24 million.
- Notably, sectors often considered critical to economic diversification recorded negligible inflows. Oil and gas attracted only $460,000, while construction received $100,000. Education attracted $70,000 and health and social work received $120,000.
The distribution suggests that foreign investors remain concentrated in financial assets rather than productive sectors of the economy.
