The United Kingdom emerged as Nigeria’s largest source of capital inflows in the third quarter of 2025, according to the latest capital importation data released by the National Bureau of Statistics (NBS).
Figures from the agency’s Q2 and Q3 2025 reports show that capital originating from the UK totalled $2.94 billion, accounting for 48.80 percent of total capital imported during the period under review.
Top Capital Sources
The United States ranked second with $950.47 million (15.80 percent), followed by South Africa, which contributed $773.95 million (12.87 percent).
Other notable capital sources included:
- Mauritius — $451.46 million
- Netherlands — $282.90 million
The NBS stated that the data, sourced from the Central Bank of Nigeria (CBN), reflects fresh capital inflows processed through commercial banks. The figures exclude other components of foreign direct investment (FDI), such as reinvested earnings.
Portfolio Inflows Drive Rebound
Economic analysts attributed the strong rebound in capital importation during Q3 largely to increased short-term portfolio investments, particularly in money market instruments and government bonds.
However, experts cautioned that the relatively modest share of foreign direct investment indicates that long-term, productivity-enhancing capital remains limited compared to more liquid, short-term funds.
Investment Implications
The trend signals renewed foreign investor confidence in Nigeria’s financial markets but also underscores the need for structural reforms aimed at attracting sustained, long-term investments to support industrial growth, job creation, and economic stability.
Market observers note that while portfolio inflows can boost liquidity and stabilize foreign exchange reserves in the short term, deeper structural investment is critical for sustainable economic expansion.
