85 cents of every dollar in capital imported into Nigeria in 2025 went to portfolio investments

  • Nigeria's total capital imports surged to $23.2bn in 2025, the highest level recorded in the entire 2014 to 2025 period.
  • Foreign Portfolio Investment dominated in 2025, claiming 85 cents of every dollar imported, up sharply from 68% in 2024.
  • Foreign Direct Investment has remained consistently weak, never exceeding 20% across all eleven years, and falling to just 4% in 2025.
  • The "Others" category, which peaked at 61% in 2023, has collapsed to just 11% in 2025, reflecting a dramatic shift toward portfolio-driven capital flows

Portfolio investment overwhelmingly dominates Nigeria's capital imports, consuming 85% of all inflows in 2025

After hitting a low point in 2023, capital imports have increased for two consecutive years, reaching $23.2 billion in 2025. That rebound signals renewed investor activity, but the composition of that capital tells a more nuanced story.

In 2025, a striking 85% of all capital imported into Nigeria came from foreign portfolio investment (FPI) — the kind of capital that moves quickly in and out of markets. Meanwhile, foreign direct investment (FDI), which typically reflects long-term confidence in the real economy, dropped to just 4%.

Source:

National Bureau of Statistics

Period:

2014-2025
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