By Seun Ibiyemi
Nigeria recorded total capital importation of $6.44 billion in the fourth quarter of 2025, marking a 26.61 per cent increase year-on-year, according to the latest report by the National Bureau of Statistics (NBS).
The figure also represents a 7.13 per cent rise from the $6.01 billion recorded in the third quarter of 2025, signalling a sustained recovery in foreign capital inflows.
Data from the NBS showed that portfolio investment remained the dominant driver, accounting for $5.49 billion or 85.14 per cent of total inflows during the period.
In contrast, Foreign Direct Investment (FDI) stood at $357.80 million (5.55 per cent), while other investments contributed $599.65 million, representing 9.31 per cent.
The breakdown further revealed that money market instruments attracted $3.08 billion, while bonds accounted for $1.97 billion, highlighting strong investor preference for short-term and fixed-income assets.
Despite the overall growth, the relatively low contribution of FDI underscores continued weakness in long-term investments, even as macroeconomic conditions show signs of improvement.
Sectoral analysis indicated that the banking sector remained the biggest beneficiary of foreign capital, drawing $3.85 billion or 59.75 per cent of total inflows.
The financing sector followed with $1.94 billion (30.15 per cent), while the production and manufacturing sector attracted $308.93 million, representing 4.79 per cent.
Other sectors, including telecommunications, agriculture, and oil and gas, recorded significantly lower inflows, reflecting a concentration of foreign investments in financial services rather than the real economy.
In terms of origin, the United Kingdom emerged as the largest source of capital inflow, contributing $3.73 billion or 57.94 per cent.
The United States followed with $837.91 million (13.00 per cent), while South Africa accounted for $516.96 million (8.02 per cent).
Other notable contributors included Belgium and Mauritius, underscoring Nigeria’s continued reliance on established global financial hubs.
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On a bank-by-bank basis, Stanbic IBTC Bank recorded the highest capital importation at $2.23 billion, representing 34.58 per cent of total inflows. It was followed by Standard Chartered Bank Nigeria with $1.85 billion (28.75 per cent) and Citibank Nigeria with $840.72 million (13.05 per cent).
Other banks, including Access Bank, Rand Merchant Bank, and First City Monument Bank, recorded moderate inflows during the quarter.
The report highlights a continued preference by investors for liquid financial instruments, even as Nigeria works to attract more stable, long-term investments into key productive sectors.
