Nigeria’s oil and gas sector recorded a dramatic 283.3 per cent increase in foreign capital inflows in the first quarter of 2026, according to the latest Capital Importation Report released by the National Bureau of Statistics (NBS). However, the industry continued to attract only a negligible portion of total foreign investments entering the country.
Data from the report, analysed on Friday, showed that the oil and gas sector attracted just $0.46 million in foreign capital during the review period. This represents an increase from the $0.12 million recorded in the corresponding period of 2025.
While the year-on-year growth appears significant in percentage terms, the actual value highlights the continued weak investor appetite for the sector compared to the broader economy.
Overall, Nigeria’s total capital importation rose sharply to $10.37 billion in Q1 2026, up from $5.64 billion in the same period of 2025. This represents an 83.83 per cent increase in total foreign inflows into the country.
Despite the strong overall performance, the oil and gas sector’s share remains extremely small, underscoring structural challenges and investor concerns that continue to limit capital allocation to the industry.
