Nigeria attracted $10.37 billion in capital importation during the first quarter of 2026, representing an 83.8 per cent increase compared to the $5.64 billion recorded in the corresponding period of 2025, according to the latest data released by the National Bureau of Statistics (NBS).
The report showed that capital inflows also increased by 61 per cent from the $6.44 billion recorded in the fourth quarter of 2025, reflecting growing foreign investor confidence in Nigerian financial assets.
Portfolio investments remained the dominant source of inflows, accounting for $9.86 billion or 95.1 per cent of total capital imported during the period. This represented an 89.5 per cent increase compared to the first quarter of 2025 and a 79.8 per cent rise from the previous quarter.
Within the portfolio investment category, money market instruments attracted $6.50 billion, while bond investments accounted for $3.23 billion, jointly contributing more than 98 per cent of total portfolio inflows.
Despite the strong overall performance, Foreign Direct Investment (FDI) remained relatively weak. Nigeria recorded FDI inflows of $135.08 million, representing only 1.3 per cent of total capital importation. Although this was seven per cent higher than the figure recorded a year earlier, it declined by over 62 per cent compared to the previous quarter.
Other investments contributed $374.48 million, accounting for 3.6 per cent of total inflows. Loans represented the largest component at $364.43 million, while trade credits accounted for approximately $10 million.
Banking Sector Dominates Capital Inflows
Sectoral analysis revealed that the banking sector remained the largest recipient of foreign capital during the quarter, attracting $7.55 billion or 72.8 per cent of total inflows.
The financing sector followed with $2.43 billion, representing 23.4 per cent, meaning the two sectors accounted for more than 96 per cent of all capital imported into the country during the period.
The production and manufacturing sector received $152.27 million, while investments in shares amounted to $75.34 million.
Other sectors attracted significantly lower inflows, including trading ($65.79 million), agriculture ($37.28 million), information technology services ($11.33 million), and telecommunications ($7.24 million).
Notably, sectors critical to economic diversification recorded minimal investment. The oil and gas sector attracted only $460,000, while construction received $100,000. Education and healthcare recorded inflows of $70,000 and $120,000 respectively.
UK Leads Source Countries
The United Kingdom emerged as the largest source of capital imported into Nigeria during the quarter, contributing $5.08 billion or 49 per cent of total inflows.
The United States followed with $3.18 billion, accounting for 30.7 per cent, while South Africa contributed $983.83 million, representing 9.5 per cent of total capital importation.
Mauritius and the United Arab Emirates contributed $390.07 million and $194.51 million respectively.
Standard Chartered Tops Receiving Banks
Among financial institutions, Standard Chartered Bank Nigeria processed the highest volume of capital inflows, receiving $4.41 billion or 42.6 per cent of total importation.
Stanbic IBTC Bank followed with $2.78 billion, while Rand Merchant Bank handled $930.82 million.
Other major receiving institutions included Citibank Nigeria, Access Bank, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank Nigeria and Fidelity Bank.
Analysts say the latest figures highlight sustained foreign investor preference for short-term financial instruments, particularly bonds and money market assets, while long-term productive investments such as manufacturing, agriculture, construction and oil and gas continue to attract relatively low levels of foreign capital.
