After a four-year slump, Nigeria's capital imports rebounded with a massive 215% surge in 2024

Key Takeaways

  • Nigeria’s capital importation fell from $21.3 billion in 2013 to $12.3 billion in 2024, marking a 42% decline over the 12-year period.
  • After four years of consistent decline, capital inflows surged by 215% in 2024, rising from $3.9 billion in 2023 to $12.3 billion.
  • The data reflects sharp swings, with 2019 peaking at $24 billion, followed by a 60% plunge in 2020 due to global and domestic disruptions.
  • In 2023, capital imports plummeted to their lowest point of the 12-year period, reaching just $3.9 billion.

Nigeria’s capital importation has experienced a turbulent 12-year run. In 2013, the country attracted $21.3 billion in capital inflows, but by 2024, this figure had dropped to $12.3 billion, a 42% decline. The most significant drop, 60% in 2020, came after 2019’s record high of $24 billion. From 2020 to 2023, inflows continued to deteriorate, reaching a low of $3.9 billion. However, 2024 brought a strong reversal, with capital imports rebounding by 215%, hinting at renewed investor confidence or major financial transactions boosting inflows.

 

Source:

National Bureau of Statistics (NBS)

Period:

2013 - 2024
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