Nigeria's FDI made up only 2.5% of the country's capital imports in H1 2024

In H1 2024, Nigeria's FDI accounted for just 2.5% of the country's $5.98 billion total capital imports, down from 14% in H2 2023 and 6.2% in H1 2023.

This highlights a shift towards other capital inflows like portfolio investments.

Portfolio investments rose significantly to $3.48 billion, rebounding from $397 million in H2 2023 and $756 million in H1 2023.

Source:

National Bureau of Statistics

<div style="text-align: center;"><a href="https://intelpoint.co/insights/nigerias-fdi-made-up-only-2-5-of-the-countrys-capital-imports-in-h1-2024/" title="Nigeria&#039;s FDI made up only 2.5% of the country&#039;s capital imports in H1 2024"><img src="https://intelpoint.co/wp-content/uploads/2024/10/nigerias-capital-imports-by-investment-type-h1-2024-scaled.webp" style="width: 80%; height: auto; max-width:960px;-ms-interpolation-mode: bicubic; margin: 0 auto; display: block;" alt="Chart: Nigeria's FDI made up only 2.5% of the country's capital imports in H1 2024"/></a><br><span>Find more insights at <a href="https://intelpoint.co/insights?utm_source=Insight%20Embed&utm_medium=HTML&utm_campaign=Nigeria%27s+FDI+made+up+only+2.5%25+of+the+country%27s+capital+imports+in+H1+2024" target="_blank" style="color: #4f9acc; text-decoration: none;">Intelpoint</a>.</span></div>Copied to clipboard!

Period:

H1 2024

HTML code to embed chart

Want a bespoke report?

Reach out

Related Insights

Nigeria saw a record $390 million in Chinese FDI in 2007

Nigeria recorded its highest-ever Chinese FDI inflow of $390.4 million in 2007
The second-highest inflow of $333.1 million was recorded in 2012
FDI from China to Nigeria fluctuated significantly over the years, with major peaks in 2007, 2012, and 2020
2022 saw a decline in Chinese FDI to Nigeria, falling to $119.6 million from $308.9 million in 2020

Construction and mining have attracted the largest share of FDI from China to Africa

Construction and mining dominate Chinese FDI in Africa, accounting for nearly 60% of the total investments
Financial intermediation, manufacturing, and commercial services also received $10.96 billion combined, smaller than construction alone
Leasing and commercial services attracted $2.16 billion, the least among all sectors
China’s FDI strategy in Africa continues to emphasise resource extraction and infrastructure, reinforcing economic interdependence

Nigeria's FDI hasn't reached $200 million in any quarter Since 2022

Nigeria's FDI has dropped significantly. From an average of $417m per quarter (2013-2015) to less than $100m (Q1 2022 - Q2 2024), it hit its lowest ($29.8m) in Q2 2024. The trend shows declines since 2013, with key fluctuations and a shift in investment priorities.

2013-2015: FDI was mostly above $200 million per quarter, peaking at $769 million in Q4 2014.
2016-2021: FDI mostly stayed under $400 million, with a $531 million spike in Q3 2018.
2022-2024: FDI hit new lows, bottoming out at $48 million in Q1 2023 and falling even further to $29.8 million in Q2 2024 — the lowest in 46 quarters.

Top investment destinations in Nigeria for the first half of 2021

Between 2017 and 2020, Nigeria’s announced Foreign Direct Investment figures were highest in 2018. However, there have been significant differences between investment announcements and FDI inflow over the years. Here are the FDI announcements and FDI inflow from 2017 to 2020. A destination analysis shows that Bayelsa State leads investment destinations with 36% of the total investments.

Nigeria’s announced Foreign Direct Investment figures and actual inflow in Nigeria from 2017 to 2020