Foreign investment flows to Nigeria triple in Q1

Foreign capital imported into Nigeria tripled in the first three months of this year compared to the last quarter of 2024, new official data shows.

Total capital importation into the country stood at $3.38 billion, up from $1.13 billion in Q1 2023 and $1.09 billion in Q4, according to the National Bureau of Statistics.

Portfolio investment ranked top with $2.08 billion, accounting for 61.48%, followed by other investment with $1.18 billion, accounting for 34.99%.

Foreign direct investment recorded the least with $119.18 million, down from $183.97 million in Q4.

“Capital Importation during the reference period originated largely from the United Kingdom with $1,805.83 million, showing 53.49% of the total capital imported. This was followed by Republic of South Africa with $582.34 million (17.25%) and the Cayman Islands with US$186.21 million (5.52%),” the NBS said.