FDI - Intelpoint

Nigeria’s FDI inflow crossed $4bn for the first time since 2014

Nigeria’s FDI inflows rose to $4.01 billion in 2025, the highest level since 2014.
The 2025 figure represents a 148% increase from the revised $1.61 billion recorded in 2024.
Despite the rebound, Nigeria remains far below its 2011 peak of $8.91 billion.
Nigeria’s strongest FDI period was 2005 to 2014, when inflows stayed above $4 billion every year.

Nigeria’s FDI inflows rose to 4th in Africa after a 148% increase, while Egypt remained the continent’s top destination

Egypt remained Africa’s top FDI destination with $15.45bn. Nigeria ranked 4th after FDI inflows rose 148% to $4.01bn. Guinea had the biggest top-10 jump, rising 454% to $7.76bn. Africa’s top 10 accounted for 73% of total FDI inflows.

Europe, Asia, and the Americas have attracted a combined 94% of global foreign investment since 1990, leaving Africa and Oceania with just 6%

Europe ($12.58 trillion), Asia ($11.88 trillion), and the Americas ($11.49 trillion) are nearly tied after 35 years, each capturing roughly a third of global FDI
Asia grew from just $25 billion annually in 1990 to consistently attracting $600-700 billion per year, showing the most stable growth pattern
Major crises (2001, 2008-09, 2020, and 2022) caused dramatic swings, with Europe even recording negative flows in 2022
Africa and Oceania combined received just 6% of total FDI, remaining far behind despite Africa's recent acceleration to $97 billion in 2024

North Africa was the primary destination for FDI in 2024, attracting 52% of Africa's total FDI inflow

Africa attracted $97 billion in total FDI inflows in 2024.
North Africa dominated with $51 billion (52%), remaining the continent’s top foreign investment hub.
West Africa ranked second with $15 billion (15.3%).
East Africa secured $13 billion (13.3%).
Central Africa remained the least favoured, with only $8 billion (8.2%) in FDI inflows.

Nigeria’s share of Africa’s FDI collapsed from ~38% in 1994 to barely 1.1% in 2024

Nigeria’s FDI share plunged from 35% in 1990 to 1.1% in 2024.
Africa’s FDI surged over the same period, leaving Nigeria behind.
Q1 2025 inflow was only $126.3 million, showing persistent weakness.
Decline mirrors structural hurdles — unstable policies, forex issues, and weak infrastructure.

Nigeria recorded an impressive 822% growth in FDI inflows between 1999 and 2009, before gradually dropping back to $1.1B in 2024

FDI inflows in Nigeria peaked at $8.8 billion in 2011, marking the highest point in the Fourth Republic.
From 2011 to 2024, FDI inflows dropped, settling at $1.1 billion in 2024.
The early Fourth Republic (1999–2011) showed growth in FDI inflows.
FDI outflows rose from $0.2 billion in 1999 to $1.5 billion in 2009, reflecting gradual international expansion by Nigerian investors.
From 2015 onward, both inflows and outflows showed significant volatility, with no clear recovery trend.

Cape Verde’s FDI averaged over $68M annually over 34 years, with a record $170M in 2008 and a recent 54% drop from 2023 to 2024

Cape Verde attracted no foreign direct investment during the early 1990s, signalling limited investor interest at the time.
FDI inflows skyrocketed from $130M in 2006 to an all-time high of $170M in 2008, before stabilising above $100M for most of the 2010s.
The country experienced large swings, ranging from a high of $150M (2014) to lows of $50M (2020).
Despite recovering to $130M in 2023, inflows dropped sharply to $60M in 2024, the weakest figure in over a decade.

Zambia’s FDI rebounded to $1.24B in 2024 after sharp decline in 2022, attracted over $22B since 1990

Zambia recorded its highest-ever FDI inflow in 2013 at $2.10 billion.
After dipping to a negative inflow of -$0.07 billion in 2022, Zambia recovered to $1.24 billion in 2024.
The country experienced its first billion-dollar inflow in 2007, marking a turning point in foreign investment.
FDI inflow was consistently below $0.5 billion throughout the 1990s, indicating limited investor confidence during that period.

Côte d'Ivoire’s FDI sees dramatic turn in 2024, jumping to $3.8B, over two times 2022 levels and its highest since 1990

Côte d'Ivoire attracted $3.80 billion in FDI in 2024, its highest annual inflow ever recorded, more than double 2022’s $1.6 billion.
Between 1990 and 2016, its FDI remained mostly below $1 billion annually, only beginning to surge from 2017 onwards.
The country crossed the $1 billion mark for the first time in 2021, signalling increased investor confidence and macroeconomic improvements.
Over the last three years (2022–2024) alone, Côte d'Ivoire drew in $7.89 billion in FDI, accounting for over 40% of total inflow since 1990.

Ethiopia’s FDI inflows rose from $10M in the 1990s to $3.98B in 2024, with its sharpest growth phase recorded from 2014–2016

Ethiopia recorded a total of $46.43 billion in foreign direct investment between 1990 and 2024.
Its annual FDI inflows surged from just $10 million in 1990 to $3.98 billion in 2024, reflecting massive investor interest over time.
The country experienced three major FDI booms in 1997–2004, 2011–2014, and 2015–2016, driven by policy reforms and industrial expansion.
After a pandemic-era dip in 2020, Ethiopia rebounded strongly in 2021 with $4.26 billion in inflows, maintaining high investment momentum through 2024

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