Nigeria’s Capital Importation Surges 257% to $2.82bn

Nigeria’s capital importation jumped 256.9 per cent year-on-year to $2.82 billion in April 2026, up from $0.79 billion a year earlier, according to the Central Bank of Nigeria.

The increase points to stronger investor confidence, although monthly inflows fell 26.7 per cent from $3.85 billion in March. The CBN attributed the monthly decline mainly to lower foreign portfolio investment, foreign direct investment and other investments.

In its latest Economic Report, the apex bank said: “Total capital inflow of $2.82 billion was recorded in April, compared with $3.85 billion in the preceding month.

“A disaggregation showed that foreign portfolio investment declined to $2.66 billion from $3.62 billion in March, due to lower purchases of money market instruments and bonds.

“Similarly, ‘Other investment’, mainly loans, decreased to $0.14 billion from $0.16 billion. Inflow of foreign direct investment also declined to $0.03 billion from $0.06 billion in the preceding period.”

Portfolio investment remained the main driver, accounting for 94.13 per cent of total inflows. Other investment contributed 4.89 per cent, while FDI accounted for 0.98 per cent.

The banking sector received the largest share of capital importation at 68.26 per cent, followed by financing at 26.54 per cent. Shares attracted 1.68 per cent, while telecommunications received 1.05 per cent.

Lagos remained the leading destination, taking 61.92 per cent of inflows, followed by the FCT with 37.74 per cent. Akwa Ibom attracted 0.21 per cent, while Kano and Ogun each received 0.04 per cent.

Meanwhile, capital outflows dropped sharply to $2.21 billion in April, compared with $4.33 billion in March 2026.

Could the rise in capital importation translate into stronger economic growth for Nigeria?