Surge in Nigeria’s capital importation: Portfolio investments lead the way with 570% increase in Q1 2024

Nigeria's foreign portfolio investment surged by 570% in Q1 2024, hitting $2.1 billion and making up 61% of total capital imports. This boost ends a 15-quarter slump, surpassing Q4 2019‘s levels.

Overall capital imports for Q1 2024 reached $3.4 billion, with $119.2 million from foreign direct investments and $1.2 billion from other investments.

Source:

National Bureau of Staistics

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Period:

Q1 2019 - Q1 2024

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In H1 2024, the UK accounted for nearly half (48.9%) of Nigeria’s capital investments, totalling $2.93 billion, followed by South Africa (14%) and the Netherlands (11%). This highlights the UK's long-standing economic ties with Nigeria, having invested over $47.5 billion over the past ten years. The UK remains Nigeria's top capital import source.