The manufacturing sector got the lowest share as Nigeria attracted $10.8 billion in the first quarter of 2026

Nigeria’s production and manufacturing sector attracted only 1.47% of the total capital imported into the country in the first quarter of 2026, according to the National Bureau of Statistics (NBS).

According to the bureau in its latest Capital Import Report released on Wednesday, the two sectors attracted $152.27 million of the $10.37 billion in capital imported into the country in the period.

Capital imports amounted to $10.37 billion in the first quarter of 2026, representing an increase of 83.83 percent from the $5.64 billion recorded in the same period in 2025.

NBS noted capital inflows rose 60.97 percent from $6.44 billion recorded in the fourth quarter of 2025.

The report stated, “In the first quarter of 2026, total capital imports into Nigeria reached $10.37 billion, higher than the $5.64 billion recorded in the first quarter of 2025, representing an increase of 83.83 percent. Compared with the previous quarter, capital imports increased by 60.97 percent from $6.44 billion in the fourth quarter of 2025.”

Analysis of foreign capital inflows shows that portfolio investment remains the dominant source of foreign capital, amounting to $9.86 billion or 95.09 percent of total imports into the economy.

The NBS revealed that foreign direct investment reached $135.08 million, representing only 1.30 percent of total capital inflows, while other investments accounted for $374.48 million or 3.61 percent.

“Portfolio Investment topped the list with $9.86 billion, accounting for 95.09 per cent, followed by Other Investments with $374.48 million, accounting for 3.61 per cent. Foreign Direct Investment (FDI) was recorded the least at $135.08 million, representing 1.30 per cent of total capital imports in Q1 2026,” the report added.

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A further breakdown shows that money market instruments attracted the largest share of portfolio investments at $6.50 billion, while investments in bonds amounted to $3.23 billion. Equity investments in the portfolio category totaled $131.81 million.

The banking sector emerged as the largest destination for foreign capital during the quarter, attracting $7.55 billion, representing 72.79 percent of total foreign capital inflows.

The financing sector followed with $2.43 billion or 23.42 percent, while the production and manufacturing sector attracted $152.27 million, accounting for 1.47 percent of total imported capital.

According to the report, “The Banking sector recorded the highest inflow at $7.55 billion, representing 72.79 percent of total capital imported in Q1 2026, followed by the Financing sector, at $2.43 billion (23.42 percent), and the Production/Manufacturing sector at $152.27 million (1.47 percent).”

Other sectors that receive foreign investment include shares, trade, agriculture, information technology services, telecommunications, oil and gas, transportation, construction, health, education and consulting services.

The UK remains Nigeria’s largest source of foreign capital, contributing $5.08 billion or 49.01 percent of total foreign capital inflows.

The United States followed with $3.18 billion, representing 30.69 percent, while South Africa contributed $983.83 million or 9.49 percent.

The NBS said, “Capital imports during the reference period came mostly from the UK with $5.08 billion, representing 49.01 percent of total capital imported. Followed by the United States with $3.18 billion (30.69 percent) and the Republic of South Africa with $983.83 million (9.49 percent).”

Among financial institutions, Standard Chartered Bank Nigeria Limited received the highest capital inflow during the quarter at $4.41 billion, representing 42.56 percent of total capital inflow.

Stanbic IBTC Bank Plc followed with $2.78 billion or 26.79 percent, while Rand Merchant Bank handled $930.82 million, accounting for 8.97 percent.

Other banks that facilitated capital inflows into the country during the period included Citibank Nigeria, Access Bank, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank, Fidelity Bank and United Bank for Africa.

The report notes that capital import data is compiled from information provided by the Central Bank of Nigeria and captures new foreign capital reported by commercial banks. He added that the figure does not include other foreign direct investment components, such as reinvested earnings.