Nigeria Sees Significant Surge in Capital Imports in Q1 2026
Nigeria experienced a remarkable increase in capital imports, reaching $10.37 billion in the first quarter of 2026. This marks an 83.83% rise compared to the $5.64 billion recorded in the same quarter of 2025. The information was disclosed in a report released by the National Bureau of Statistics (NBS) on Wednesday.
According to the report, foreign capital inflows surged by 60.97% compared to the $6.44 billion noted in the previous quarter of 2025. The report attributes this growth to increased investor engagement in Nigeria’s financial market during the reviewed timeframe.
Portfolio Investments Dominate Capital Inflows
The data revealed that portfolio investments constituted the bulk of the capital imports, totaling $9.86 billion, which represents 95.09% of the total inflows for the quarter. Other investments accounted for $374.48 million, or 3.61%, while foreign direct investment (FDI) was recorded at $135.08 million, making up 1.30% of the total.
The NBS highlighted that portfolio investments significantly overshadowed other categories of capital inflows during this quarter. Notably, money market products attracted the highest inflows within this category, totaling $6.5 billion, while bond investments stood at $3.23 billion. Stocks drew significantly less interest, with only $131.81 million in investments, indicating a continued preference among investors for fixed-income instruments over equities during this period.
Banking Sector Leads in Capital Attraction
Sector-specific analysis showed that the banking sector was the largest recipient of foreign capital, garnering $7.55 billion, which equates to 72.79% of the total capital imported. Meanwhile, the financial sector as a whole attracted $2.43 billion, representing 23.42%. In contrast, the production and manufacturing sector received $152.27 million, just 1.47% of the total inflows.
Investments were also noted across sectors including agriculture, telecommunications, information technology services, oil and gas, healthcare, construction, education, consulting, transportation, and trade. The United Kingdom emerged as the leading source of capital inflows to Nigeria, contributing $5.08 billion and accounting for 49.01% of total capital imports. The United States followed with $3.18 billion, representing 30.69%, while South Africa provided $983.83 million, or 9.49% of the total.
Standard Chartered Leads Financial Institutions in Capital Inflows
Among financial institutions, Standard Chartered Bank Nigeria Limited dominated the capital import landscape, attracting $4.41 billion, which is 42.56% of all inflows into the country. Stanbic IBTC Bank came in second with $2.78 billion, representing 26.79%, followed by Rand Merchant Bank with $930.82 million, or 8.97% of total imports.
Other notable banks receiving foreign capital during this quarter included Access Bank, Citibank Nigeria, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank, Fidelity Bank, and United Bank for Africa.
The NBS confirmed that the capital import statistics were compiled based on data provided by the Central Bank of Nigeria, in conjunction with reports from commercial banks detailing new foreign capital entering the country. It is important to note that this report does not account for other components of foreign direct investment, such as reinvested income.
