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NBS: Capital importation rose to $5.6bn in Q1 2025 | Abuja overtook Lagos as top destination

NBS: Capital importation rose to $5.6bn in Q1 2025 | Abuja overtook Lagos as top destination NBS: Capital importation rose to $5.6bn in Q1 2025 | Abuja overtook Lagos as top destination

Capital importation into Nigeria rose to $5.64 billion in the first quarter (Q1) of 2025, according to the latest report from the National Bureau of Statistics (NBS).

In a report on Tuesday, NBS said the figure represents a 67.12 percent increase from the $3.38 billion recorded in Q1 2024 and a 0.86 percent rise compared to $5.09 billion in the fourth quarter (Q4) of 2024.

Capital importation is the inflow of funds from abroad to fuel investment, trade, and manufacturing within a country.

The bureau said the surge was largely driven by portfolio investments, which accounted for $5.20 billion, representing 92.25 percent of total capital inflows during the period.

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Other investments followed with $311.17 million (5.52%), while foreign direct investment (FDI) contributed the least with $126.29 million, making up just 2.24 percent of the total contribution.

“The Banking sector recorded the highest inflow with US$3127.92 million, representing 55.44% of total capital imported in Q1 2025, followed by the Financing sector, valued at US$2097.48million (37.18%), and Production/Manufacturing sector with US$129.92 million (2.30%),” The bureau said.

“Capital Importation during the reference period originated largely from the United Kingdom with US$3681.96 million, showing 65.26% of the total capital imported.

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“This was followed by the Republic of South Africa with US$501.29 million (8.88%) and Mauritius with US$394.51 million (6.99%).”

ABUJA OVERTAKES LAGOS AS TOP CAPITAL DESTINATION 

Giving state analysis, NBS said out of the five states that recorded capital importation during the quarter, the federal capital territory (FCT) was the top destination with $3.04 billion, accounting for 54.11 percent of the total capital imported.

Abuja overtook Lagos for the first time since Q1 2018.

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Lagos followed on the list with $2.56 billion (45.44 percent), and Ogun state with $7.95 million (0.16 percent), while Oyo contributed $7.81 million, and Kaduna with $4.06 million.

By financial institution, NBS said Standard Chartered Bank Nigeria received the highest capital importation with $2.1 billion (37.29 percent).

Stanbic IBTC Bank followed with $1.40 billion (24.78 percent), while Citibank Nigeria received $1.05 billion, accounting for 18.66 percent of total inflows in Q1 2025.

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