Nigeria recorded a significant increase in capital importation inflows during the first quarter of 2026, reaching a total of $10.37 billion. This data comes from the latest Capital Importation Report released by the National Bureau of Statistics (NBS). The figure represents an 83.8 percent increase compared to the $5.64 billion recorded in the same period of 2025, and a 61 percent rise from the $6.44 billion reported in the fourth quarter of 2025.
Portfolio Investment Leads the Surge
The growth was primarily driven by portfolio investment, which accounted for $9.86 billion or 95.1 percent of total capital imported during the quarter. This inflow was 89.5 percent higher than the level recorded a year earlier and 79.8 percent above the preceding quarter. A breakdown of the portfolio investment component shows that money market instruments attracted $6.50 billion, while bonds accounted for $3.23 billion.
Foreign Direct Investment Remains Weak
Foreign Direct Investment (FDI) inflows stood at $135.08 million in direct investments in Q1, representing only 1.3 percent of total capital importation. Although this figure was 7.1 percent higher than the corresponding period of 2025, it declined by 62.3 percent from the previous quarter. Other investments contributed $374.48 million, accounting for 3.6 percent of total inflows, with loans accounting for $364.43 million and trade credits contributing $10.05 million.
Sectoral Analysis
Sectoral analysis reveals that the banking sector remained the largest destination for foreign capital, attracting $7.55 billion or 72.8 percent of total inflows. The financing sector followed with $2.43 billion (23.4 percent). The production and manufacturing sector attracted $152.27 million, while investment in shares stood at $75.34 million. Trading attracted $65.79 million, agriculture attracted $37.28 million, and information and communication technology (ICT) services accounted for $11.33 million.
Other sectors recorded relatively low inflows. Telecommunications attracted $7.24 million, while oil and gas received just $460,000. Construction accounted for $100,000, education attracted $70,000, and health and social services received $120,000.
Source Countries and Financial Institutions
The United Kingdom (UK) emerged as the largest source of capital imported into Nigeria during the period, accounting for $5.08 billion or 49 percent of total inflows. The United States (U.S.) followed with $3.18 billion (30.7 percent), and South Africa contributed $983.83 million. Mauritius and the United Arab Emirates (UAE) accounted for $390.07 million and $194.51 million, respectively.
Among financial institutions, Standard Chartered Bank Nigeria Limited received the largest volume of capital importation, processing $4.41 billion or 42.6 percent of total inflows. Stanbic IBTC Bank followed with $2.78 billion, while Rand Merchant Bank handled $930.82 million. Citibank Nigeria processed $782.84 million, and Access Bank received $710.03 million. Other receiving banks included First Bank of Nigeria (FBN), Guaranty Trust Bank (GTBank), Zenith Bank, First City Monument Bank (FCMB), Ecobank Nigeria, and Fidelity Bank.
