Abuja, Nigeria – Nigeria attracted only $565.21 million in Foreign Direct Investment (FDI) in the first nine months of 2025, representing just 3.3 percent of total capital inflows, according to the latest data from the National Bureau of Statistics.
Okay News reports that total capital importation reached approximately $16.78 billion between January and September, already surpassing the $12.32 billion recorded for the full year 2024. However, the bulk of funds entering Nigeria remains short-term and portfolio-driven rather than long-term investment.
Quarterly inflows stood at $5.64 billion in Q1, $5.12 billion in Q2, and $6.01 billion in Q3. Foreign Direct Investment rose from $126.29 million in Q1 to $142.67 million in Q2 and nearly doubled to $296.25 million in Q3. Despite this sequential improvement, foreign direct investment remains modest compared to portfolio investment, which alone accounted for $4.85 billion in the third quarter.
The surge in capital importation has been largely driven by foreign investors attracted to elevated domestic interest rates and high yields on treasury bills and bonds. Financial services dominated inflows, with the banking sector attracting over $3.14 billion in Q3. The financing sector followed with $1.86 billion, while production and manufacturing received just $261.35 million, showing limited investment in job-creating sectors.
Major sources of capital included the United Kingdom ($2.94 billion in Q3), the United States ($950.47 million), and South Africa ($773.95 million). Unlike portfolio investment, foreign direct investment typically supports factory construction, infrastructure development, and long-term business expansion.
Therefore, while Nigeria is attracting foreign capital, it is largely not in the form that drives durable economic growth, employment, or structural transformation.
 in the first nine months of 2025, representing just 3.3 percent of total capital inflows, according to the latest data from the National Bureau of Statistics.){kind=link}