Nigeria recorded a significant increase in capital importation in the first quarter of 2026, attracting $10.37bn in foreign capital inflows, according to the latest Capital Importation Report released by the National Bureau of Statistics (NBS).
The figure represents an 83.83 per cent rise compared to the $5.64bn recorded in the corresponding period of 2025. It also marks a 60.97 per cent increase from the $6.44bn reported in the fourth quarter of 2025, highlighting renewed investor confidence in Nigeria’s financial markets.
According to the NBS, portfolio investment remained the primary driver of capital inflows during the quarter. The category accounted for $9.86bn, representing 95.09 per cent of total capital imported into the country.
In contrast, foreign direct investment (FDI) contributed only $135.08m, making up 1.30 per cent of total inflows. Other investments accounted for $374.48m or 3.61 per cent of the total.
The report stated that portfolio investment ranked highest among all investment categories, followed by other investments, while FDI recorded the lowest contribution during the review period.
A breakdown of portfolio investments showed that money market instruments attracted the largest share, receiving $6.50bn. Investments in bonds followed closely at $3.23bn, while equity investments stood at $131.81m.
Sectoral analysis revealed that the banking industry remained the biggest beneficiary of foreign capital inflows. The sector attracted $7.55bn, accounting for 72.79 per cent of the total capital imported during the quarter.
The financing sector received $2.43bn, representing 23.42 per cent of total inflows. Meanwhile, the production and manufacturing sector attracted $152.27m, accounting for 1.47 per cent of the overall capital imported.
Other sectors that attracted foreign investments included agriculture, information technology services, telecommunications, oil and gas, healthcare, construction, education, transport, consultancy services, trading and shares.
On the source of capital inflows, the United Kingdom maintained its position as Nigeria’s largest foreign investment partner. The country accounted for $5.08bn, representing 49.01 per cent of total capital imported during the period.
The United States followed with $3.18bn, contributing 30.69 per cent, while South Africa accounted for $983.83m or 9.49 per cent of total inflows.
Among financial institutions, Standard Chartered Bank Nigeria Limited handled the highest volume of capital importation, receiving $4.41bn or 42.56 per cent of the total inflows.
Stanbic IBTC Bank Plc followed with $2.78bn, representing 26.79 per cent, while Rand Merchant Bank facilitated $930.82m, accounting for 8.97 per cent of the total.
Other financial institutions involved in facilitating foreign capital inflows included Citibank Nigeria, Access Bank, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank, Fidelity Bank and United Bank for Africa.
The NBS noted that the capital importation figures were compiled using data supplied by the Central Bank of Nigeria and reported by commercial banks. The bureau added that the statistics did not include other components of foreign direct investment, such as reinvested earnings.
Despite the strong growth in overall capital inflows, foreign direct investment into Nigeria declined sharply. FDI reportedly fell by 80 per cent in January 2026 as investors increasingly shifted their focus toward bonds and money market instruments, underscoring the continued preference for short-term financial assets over long-term productive investments.
