The United Kingdom has emerged as Nigeria’s top source of foreign capital in the first quarter of 2025, accounting for more than half of the country’s total foreign investment inflows according to data released by the National Bureau of Statistics (NBS).
The UK dominated capital imports into Nigeria with a substantial $3.68 billion, far exceeding investments from other major economies.
South Africa ranked second with $501.29 million, while Mauritius placed third with $394.51 million. The United States, traditionally one of Nigeria’s key investment partners, recorded $368.92 million to take fourth position.
Other significant contributors included the United Arab Emirates with $301.72 million and the Cayman Islands with $114.76 million.
European nations featured prominently in the rankings, with Belgium recording $70.54 million, France $47.33 million, the Netherlands $42.68 million and Luxembourg $12.82 million.
Asian economies also made their presence felt, with Singapore attracting $36.79 million, Japan $16.02 million and China $9.39 million in investments. The British Virgin Islands and Panama completed the top 15 with $11.25 million and $6.30 million respectively.
The figures highlight a notable shift in Nigeria’s foreign investment landscape, with the UK reasserting its economic influence. Analysts suggest recent trade agreements and financial sector collaborations between both nations may have contributed to this significant capital inflow. The strong showing comes despite global economic uncertainties and represents a vote of confidence in Nigeria’s economic potential.
The data reveals interesting trends when compared to previous quarters, particularly the relatively lower contributions from traditional investment powerhouses like the United States and China. The presence of offshore financial centres such as the Cayman Islands and British Virgin Islands indicates continued portfolio investment activity in the Nigerian market.
While the NBS report did not provide a sectoral breakdown of these investments, historical patterns suggest the inflows likely targeted Nigeria’s energy sector, financial services and telecommunications industry, which have consistently attracted foreign capital. The UK’s dominant position may reflect growing interest in Nigeria’s financial technology sector, which has seen increased British investment in recent years.
Economic experts note that maintaining this positive investment trend will require sustained policy stability and improvements in Nigeria’s business environment.
The significant capital inflows from the UK in particular could signal deepening economic ties between both countries, potentially leading to further trade and investment opportunities.
The first quarter figures set an interesting precedent for the remainder of 2025, with observers keen to see if the UK maintains its leading position and whether other nations increase their investment activities in Nigeria. The data provides valuable insights for policymakers and investors alike as Nigeria continues to position itself as an attractive destination for foreign capital in Africa.
Top 15 Sources of Capital Inflows to Nigeria (Q1 2025):
- United Kingdom – $3.68bn
- South Africa – $501.29m
- Mauritius – $394.51m
- United States – $368.92m
- United Arab Emirates – $301.72m
- Cayman Islands – $114.76m
- Belgium – $70.54m
- France – $47.33m
- Netherlands – $42.68m
- Singapore – $36.79m
- Japan – $16.02m
- Luxembourg – $12.82m
- British Virgin Islands – $11.25m
- China – $9.39m
- Panama – $6.30m
Source: National Bureau of Statistics.
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