Nigeria recorded a sharp increase in capital importation inflows in the first quarter of 2026, with total capital importation rising to $10.37 billion, according to the latest Capital Importation Report released by the National Bureau of Statistics (NBS).

The figure represents an increase of 83.8 per cent against the $5.64 billion recorded in the corresponding period of 2025 and a 61 per cent rise from the $6.44 billion reported in the fourth quarter of 2025.

The growth was largely driven by portfolio investment, which accounted for $9.86 billion or 95.1 per cent of total capital imported during the quarter. The inflow was 89.5 per cent higher than the level recorded a year earlier and 79.8 per cent above the preceding quarter.

A breakdown of the portfolio investment component showed that money market instruments attracted $6.50 billion, while bonds accounted for $3.23 billion.

Foreign Direct Investment (FDI), however, remained weak. FDI inflows stood at $135.08 million in direct investments in Q1, representing 1.3 per cent of total capital importation. Although the figure was 7.1 per cent higher than the corresponding period of 2025, it declined by 62.3 per cent from the previous quarter.

Other investments contributed $374.48 million, accounting for 3.6 per cent of total inflows, with loans accounting for $364.43 million and trade credits contributing $10.05 million.

Sectoral analysis showed that the banking sector remained the largest destination for foreign capital, attracting $7.55 billion (72.8 per cent of total inflows). The financing sector followed with $2.43 billion (23.4 per cent).

The production and manufacturing sector attracted $152.27 million, while investment in shares stood at $75.34 million. Trading attracted $65.79 million, agriculture attracted $37.28 million, and information and communication technology (ICT) services accounted for $11.33 million.

Other sectors recorded relatively low inflows. Telecommunications attracted $7.24 million, while oil and gas received just $460,000. Construction accounted for $100,000, education attracted $70,000, while health and social services received $120,000.

The United Kingdom (UK) emerged as the largest source of capital imported into Nigeria during the period, accounting for $5.08 billion (49 per cent) of total inflows. The United States (U.S.) followed with $3.18 billion (30.7 per cent) and South Africa $983.83 million. Mauritius and the United Arab Emirates (UAE) accounted for $390.07 million and $194.51 million, respectively.

Among financial institutions, Standard Chartered Bank Nigeria Limited received the largest volume of capital importation, processing $4.41 billion (42.6 per cent of total inflows). Stanbic IBTC Bank followed with $2.78 billion, while Rand Merchant Bank handled $930.82 million.

Citibank Nigeria processed $782.84 million, while Access Bank received $710.03 million. Other receiving banks included First Bank of Nigeria (FBN), Guaranty Trust Bank (GTBank), Zenith Bank, First City Monument Bank (FCMB), Ecobank Nigeria and Fidelity Bank