United Kingdom-based investors accounted for the bulk of Nigeria’s foreign capital in the first quarter of 2025, contributing more than 65 per cent of total inflows, according to the latest Capital Importation report released by the National Bureau of Statistics (NBS).
The data showed that capital from the UK rose to $3.68bn (₦5.52tn at ₦1,500/$) in Q1 2025, representing 65.26 per cent of the $5.64bn recorded during the period. This was a 29.2 per cent increase from $2.85bn in Q4 2024 and more than double the $1.81bn inflow in Q1 2024.
Overall, Nigeria’s capital importation rose by 10.9 per cent quarter-on-quarter to $5.64bn in Q1 2025, up from $5.09bn in Q4 2024. Year-on-year, inflows grew by 67.1 per cent compared to $3.38bn in Q1 2024.
South Africa ranked as the second-largest source with $501.29m (8.88 per cent of total inflows), followed by Mauritius with $394.51m (6.99 per cent), the United States with $368.92m (6.54 per cent), and the United Arab Emirates with $301.72m (5.35 per cent). Together, the top five countries contributed over 92 per cent of all inflows.
Other notable sources included the Cayman Islands ($114.76m), Belgium ($70.54m), France ($47.33m), the Netherlands ($42.68m), and Singapore ($36.79m). The figures highlight the heavy concentration of Nigeria’s external financing in a handful of markets, underscoring both the strength of these bilateral ties and the risks associated with investor sentiment shifts in those jurisdictions.
The report also noted that British businesses continue to show rising interest in Africa, attracted by structural reforms, demographic trends, and accelerating digital transformation. A recent survey of UK executives revealed that half of large firms are already active in African markets and planning expansion, while others are exploring entry opportunities.
Africa’s abundant resources — including 30 per cent of global mineral reserves, 12 per cent of oil, eight per cent of natural gas, and 65 per cent of the world’s arable land — alongside a projected workforce boom by 2035, make the continent increasingly attractive to international investors. Key sectors drawing capital include technology, oil and gas, power (particularly renewables), agriculture, manufacturing, infrastructure, and strategic minerals.
