Nigeria attracted a total of $10.37 billion in foreign capital inflows during the first quarter of 2026, representing a sharp increase compared to the same period last year, according to the latest figures released by the National Bureau of Statistics (NBS).
The NBS Capital Importation Report revealed that capital inflows surged by 83.83 percent from the $5.64 billion recorded in Q1 2025. Compared to the previous quarter, inflows also rose significantly by 60.97 percent, up from $6.44 billion in Q4 2025.
The impressive growth reflects renewed investor interest in Nigeria’s financial markets, although concerns remain over the low level of long-term investments flowing into productive sectors of the economy.
According to the report, portfolio investments accounted for the largest share of capital importation, contributing $9.86 billion, which represented 95.09 percent of the total inflows recorded during the quarter.
Meanwhile, Foreign Direct Investment (FDI) — widely regarded as a key driver of economic growth, job creation, and industrial expansion — remained relatively low at $135.08 million, making up only 1.30 percent of total capital inflows. Other forms of investment contributed $374.48 million, representing 3.61 percent.
A closer look at the portfolio investment segment showed that money market instruments attracted the highest inflows, receiving $6.50 billion, while investments in bonds reached $3.23 billion. Equity investments accounted for $131.81 million during the period.
The banking sector emerged as the biggest beneficiary of foreign capital, attracting $7.55 billion, equivalent to 72.79 percent of total inflows.
The financing sector followed with $2.43 billion, representing 23.42 percent, while the production and manufacturing sector received $152.27 million, accounting for 1.47 percent of the total amount imported.
Several other sectors also attracted foreign investments, including agriculture, telecommunications, information technology services, oil and gas, transportation, construction, healthcare, education, trade, and consultancy services.
On the source of investments, the United Kingdom maintained its position as Nigeria’s largest foreign capital provider, contributing $5.08 billion, which accounted for 49.01 percent of total inflows.
The United States ranked second with $3.18 billion, representing 30.69 percent, while South Africa contributed $983.83 million, accounting for 9.49 percent of total imported capital.
The report further highlighted the role of financial institutions in processing foreign capital transactions.
Standard Chartered Bank Nigeria led the list of receiving banks, handling $4.41 billion, or 42.56 percent of total inflows. It was followed by Stanbic IBTC Bank, which processed $2.78 billion, while Rand Merchant Bank Nigeria handled $930.82 million.
Other banks involved in facilitating capital importation included Citibank Nigeria, Access Bank, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank Nigeria, Fidelity Bank, and United Bank for Africa.
The NBS stated that the figures were compiled using data provided by the Central Bank of Nigeria (CBN) and cover fresh foreign capital inflows reported through commercial banks. The bureau noted that the data does not include other components of FDI such as reinvested earnings.
Despite the strong rise in overall capital importation, the report emphasized the continued weakness of direct investments. FDI inflows reportedly fell by 80 percent in January 2026, indicating that investors remain more inclined toward short-term financial instruments such as bonds and money market assets rather than long-term investments in productive sectors of the economy.