Nigeria’s net foreign liability position increased by $7.5 billion to $90.2 billion in 2025. The rise was driven by stronger foreign investments in Nigerian assets, according to the latest International Investment Position (IIP) report released by the Central Bank of Nigeria (CBN).
The report showed that Nigeria’s net financial liabilities rose from $82.7 billion in 2024 to $90.2 billion in 2025. The increase reflects a faster growth in foreign investors’ claims on Nigerian assets than Nigeria’s investments abroad.
According to the CBN, Nigeria recorded external financial assets worth $125.6 billion. These assets represent investments held abroad by Nigerian residents. At the same time, the country’s foreign liabilities stood at $215.8 billion, representing investments made by foreign investors in Nigerian assets.
The apex bank explained that the increase in Nigeria’s net foreign liability position points to stronger foreign portfolio and direct investment liabilities. However, the rise was partly offset by growth in the country’s reserve assets and increased foreign investments owned by Nigerian residents.
The International Investment Position differs from the Balance of Payments. While the Balance of Payments tracks trade and capital transactions over a specific period, the IIP measures the total value of a country’s external financial assets and liabilities at a particular point in time.
The report further revealed that the increase in external liabilities was largely driven by a $10.1 billion rise in portfolio investment liabilities. Much of the inflow came from foreign investments in government debt instruments, including Open Market Operation (OMO) bills.
Foreign investors were attracted by Nigeria’s high interest-rate environment, which offered attractive yields on government securities. This contributed to increased foreign participation in the country’s debt market during the period.
