Wealth - Intelpoint

Kenya and Nigeria accounted for nearly half ($2.45bn) of Africa’s top 10 outward FDI in 2025

Kenya led Africa’s outward FDI in 2025, recording $1.26bn.
Nigeria followed closely with $1.19bn, after a 191% increase.
Together, Kenya and Nigeria accounted for $2.45bn of the top 10 total.
Morocco and Egypt completed the top four, with $812.8m and $695.9m.
Angola recorded the fastest growth among the top 10, rising 278%.
Africa’s total outflow was lower because negative outflows offset gains elsewhere.

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.

Nigeria’s external debt service crossed $5bn in 2025 after payments in 2018–2025 dwarfed the previous decade

Nigeria’s external debt service entered a heavier phase in 2018.
External debt service crossed $5bn in 2025.
Nigeria paid about $22.2bn from 2018 to 2025.
That was about 6x the $3.7bn paid from 2008 to 2017.
The 2006 spike reflects one-off debt settlement payments.

Nigeria collected ₦34.6 trillion in company income tax over 11 years

Nigeria collected ₦34.62 trillion in company income tax across 45 quarters from Q1 2015 to Q1 2026.
Average quarterly collection stood at about ₦769 billion over the period.
CIT collections stayed below ₦1 trillion in every quarter until Q2 2023.
Since Q2 2024, collections have remained above ₦1 trillion for eight straight quarters.
The highest quarterly collection was ₦2.96 trillion in Q3 2025.
Annual CIT collections rose sharply from ₦2.82 trillion in 2022 to ₦9.21 trillion in 2025.
The recent surge is nominal and likely reflects stronger collections, inflation, naira depreciation, and higher naira-value foreign CIT receipts.

Nigeria’s food inflation has risen every month since January 2026, climbing 8.07 percentage points to 16.96% in May

Nigeria’s year-on-year food inflation rose for the fourth consecutive month, from 8.89% in January 2026 to 16.96% in May.
The rate increased by 8.07 percentage points within the first five months of 2026.
May’s 16.96% rate means food prices were, on average, 16.96% higher than they were in May 2025.
Food inflation rose from 12.12% in February to 14.31% in March and 16.06% in April before reaching 16.96% in May.
Food inflation exceeded Nigeria’s 15.93% headline inflation rate in May, showing that food was a major source of renewed pressure on household expenses.

Among 44 African countries, Nigeria's 16.96% food inflation in May 2026 was lower only than that of Libya and Malawi

Nigeria recorded the third-highest food inflation rate among 44 African countries in May 2026.
At 16.96%, Nigeria’s rate was lower only than Libya and Malawi, both at 17.6%.
Nigeria’s food inflation was nearly 3.5 times the 4.88% average across the countries covered.
Eight of the ten countries with the highest food inflation recorded rates above 10%.

Company income tax collections declined across 13 sectors in Q1 2026

Thirteen of Nigeria’s 21 sectors recorded year-on-year declines in CIT collections.
Extraterritorial organisations recorded the steepest fall at 53.9%.
Construction collections fell by 52.4%, the second-largest decline.
Mining and agriculture declined by 39.4% and 40.8%, respectively.
Manufacturing still generated ₦74.5 billion despite a 31.0% decline.

Portfolio investment into Nigeria hit a 13-year quarterly high in Q1 2026

Portfolio investment into Nigeria reached $9.86 billion in Q1 2026, the highest quarterly level in 51 quarters.
The Q1 2026 portfolio inflow was higher than the previous peak of $7.11 billion recorded in Q1 2019.
Portfolio investment accounted for 95% of Nigeria’s total capital importation in Q1 2026.
Foreign Direct Investment remained low at $135 million, far below portfolio inflows.
Other Investment stood at $374 million, making it the second-largest inflow category in Q1 2026.

Three African countries are projected to have debt exceeding their GDP in 2026

Sudan is projected to have Africa’s highest debt-to-GDP ratio in 2026, at 169.1%.
Only three African countries are projected to owe more than the size of their economies in 2026.
Senegal and Mozambique join Sudan among countries with debt-to-GDP ratios above 100%.
Africa’s average government debt-to-GDP ratio is projected at 60.7% in 2026.
Nigeria’s projected debt-to-GDP ratio of 32.3% is far below the African average.

1 2 3 … 47 Next