NBS Report: Top 10 Banks Lead Nigeria's $17.78 Billion Capital Inflow in 2025
The National Bureau of Statistics (NBS) has disclosed that Nigeria's total capital importation in 2025 reached an impressive US$17.78 billion across the first three quarters of the year. This significant influx highlights a robust recovery in foreign investment, driven largely by policy reforms and improving economic stability.
Quarterly Breakdown and Key Highlights
In the third quarter of 2025 alone, capital importation surged to $6.01 billion, marking a staggering 380.16% increase compared to the $1.25 billion recorded in the same period of 2024. The quarterly figures for 2025 are as follows:
- Q1: $5.64 billion
- Q2: $5.12 billion
- Q3: $6.01 billion
The second quarter of 2025 recorded the highest capital importation, with the United Kingdom and United States emerging as the top sources of foreign investment. This trend underscores Nigeria's growing appeal to international investors.
Top 10 Banks by Capital Importation in Q3 2025
Standard Chartered Bank Nigeria Limited led the pack with $2.12 billion in capital inflows, followed closely by Stanbic IBTC Bank Plc with $1.79 billion. Citibank Nigeria Limited secured the third position with $561 million. The full list of top-performing banks includes:
- Standard Chartered Bank Nigeria Limited – $2.12 Billion
- Stanbic IBTC Bank Plc – $1.79 Billion
- Citibank Nigeria Limited – $561 Million
- Access Bank Plc – $385 Million
- Rand Merchant Bank – $307 Million
- Ecobank Nigeria Plc – $300 Million
- First Bank of Nigeria Plc – $254 Million
- Guaranty Trust Bank Plc – $80 Million
- Fidelity Bank Plc – $56 Million
- First City Monument Bank Plc – $49 Million
Capital Importation by Type and Sector
In Q3 2025, capital importation was categorized as follows:
- Portfolio Investment: $296.25 million
- Other Investments: $4.85 billion
- Foreign Direct Investment (FDI): $864.57 million
The banking sector dominated with $3.14 billion, followed by financing at $1.86 billion. Other notable sectors included production/manufacturing ($261.35 million), electrical ($244.86 million), and telecommunications ($208.51 million).
Top 10 Countries by Capital Importation
The United Kingdom was the leading source, contributing $2.94 billion, while the United States followed with $950.47 million. South Africa, Mauritius, and the Netherlands also featured prominently in the top five.
Expert Analysis and Future Outlook
Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), attributed the surge to renewed investor confidence fueled by recent macroeconomic reforms. He emphasized the need for deep structural reforms to sustain this growth, including reliable electricity supply, efficient transport networks, and predictable regulatory frameworks.
Yusuf further advised the government to encourage capital flow into export-oriented manufacturing, agro-processing, and infrastructure development. He also highlighted the importance of diversifying capital sources by engaging with Gulf sovereign wealth funds and Asian institutional investors to reduce vulnerability to Western financial cycles.
Economic Context and Currency Stability
The naira's stability, appreciating by almost 4% in 2025, has helped cool inflation and support foreign investment. However, analysts caution that weaker oil prices could impact Nigeria's foreign exchange earnings and exert pressure on the currency in the coming year.
This comprehensive report underscores Nigeria's evolving economic landscape, with capital importation playing a pivotal role in driving growth and stability across key sectors.
