Nigeria attracted $10.37 billion in foreign capital during the first quarter of 2026, marking a significant increase from the inflows recorded in the same period last year, according to the latest data released by the National Bureau of Statistics (NBS).
The Capital Importation Report published by the bureau showed that inflows rose by 83.83 per cent compared to the $5.64 billion recorded in the first quarter of 2025. On a quarter-on-quarter basis, capital importation also climbed by 60.97 per cent from the $6.44 billion posted in the fourth quarter of 2025.
The strong performance points to growing investor confidence in Nigeria’s financial markets despite lingering concerns over the relatively weak level of long-term investments entering the economy.
According to the NBS, portfolio investments remained the major driver of foreign capital inflows, accounting for $9.86 billion or 95.09 per cent of the total amount imported during the period.
In contrast, Foreign Direct Investment (FDI), which is generally regarded as a more stable source of capital because it supports business expansion and job creation, contributed only $135.08 million, representing 1.30 per cent of total inflows. Other investments stood at $374.48 million, accounting for 3.61 per cent.
A breakdown of portfolio investments showed that money market instruments attracted the highest volume of funds at $6.50 billion, while investments in bonds amounted to $3.23 billion. Equity investments accounted for $131.81 million.
Sectoral analysis revealed that the banking industry remained the leading recipient of foreign capital, drawing $7.55 billion, equivalent to 72.79 per cent of total inflows.
The financing sector followed with $2.43 billion, representing 23.42 per cent, while the production and manufacturing sector received $152.27 million, accounting for 1.47 per cent of the total.
Other sectors that attracted foreign investments during the quarter included agriculture, telecommunications, information technology services, oil and gas, transport, construction, healthcare, education, trading and consultancy services.
On the source of inflows, the United Kingdom retained its position as Nigeria’s largest capital provider, accounting for $5.08 billion or 49.01 per cent of total imports.
The United States ranked second with $3.18 billion, representing 30.69 per cent, while South Africa contributed $983.83 million, accounting for 9.49 per cent of total inflows.
The report also highlighted the role played by financial institutions in facilitating foreign capital transactions.
Standard Chartered Bank Nigeria emerged as the leading receiving bank, handling $4.41 billion or 42.56 per cent of total inflows during the quarter.
It was followed by Stanbic IBTC Bank with $2.78 billion, while Rand Merchant Bank Nigeria processed $930.82 million.
Other banks involved in facilitating capital importation included Citibank Nigeria, Access Bank, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank Nigeria, Fidelity Bank and United Bank for Africa.
The NBS noted that the figures were compiled using information supplied by the Central Bank of Nigeria and reflect fresh foreign capital inflows reported through commercial banks. The bureau added that the data excludes other components of foreign direct investment, including reinvested earnings.
Despite the sharp increase in overall capital importation, the report underscored the continued weakness of direct investments, with FDI inflows declining by 80 per cent in January 2026 as investors showed a stronger preference for bonds and money market instruments over long-term productive investments.