Inflows of foreign direct investment into Africa decreased by 44% from 2021 to 2022

Global inflows of foreign direct investment fell by 12% in 2022, and Africa saw a 44% decline from $80 billion in 2021 to $45 billion. According to UNCTAD data, only two of Africa's five major regions — North and East Africa — saw a rise in FDI in 2022.

Source:

United Nations Conference on Trade and Development

Period:

2021 - 2022
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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.
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