Nigeria recorded a total capital importation of $6.44 billion in the fourth quarter of 2025, representing a 26.61 per cent increase compared to $5.09 billion in the same period of 2024, according to the National Bureau of Statistics.

The latest Capital Importation report released on Wednesday also showed a 7.13 per cent quarter-on-quarter rise from $6.01 billion recorded in the third quarter of 2025.

The report indicates a sustained recovery in foreign capital inflows, largely driven by strong portfolio investments and increased activity in the banking sector.

According to the NBS, total capital importation stood at $6.44 billion in Q4 2025, up from $5.09 billion in Q4 2024. Compared to the preceding quarter, inflows rose from $6.01 billion in Q3 2025.

A breakdown of the data shows that portfolio investment dominated inflows, accounting for $5.49 billion or 85.14 per cent of total capital imported during the quarter.

Foreign Direct Investment contributed $357.80 million, representing 5.55 per cent, while other investments stood at $599.65 million or 9.31 per cent.

Sectoral analysis revealed that the banking sector attracted the highest inflow with $3.06 billion, representing 47.51 per cent of total capital importation. The financing sector followed with $1.94 billion or 30.15 per cent, while the production and manufacturing sector recorded $308.93 million, accounting for 4.79 per cent.

Other sectors such as telecommunications, agriculture, and oil and gas recorded relatively lower inflows, indicating a concentration of foreign capital in financial services.

In terms of origin, the United Kingdom emerged as the largest source of capital inflow, contributing $3.73 billion or 57.94 per cent of the total.

The United States followed with $837.91 million (13.00 per cent), while South Africa accounted for $516.96 million (8.02 per cent). Belgium and Mauritius also ranked among the top contributors.

On a bank-by-bank basis, Stanbic IBTC Bank recorded the highest capital importation with $2.23 billion, representing 34.58 per cent of total inflows.

It was followed by Standard Chartered Bank Nigeria with $1.85 billion (28.75 per cent) and Citibank Nigeria with $840.72 million (13.05 per cent).

Other banks, including Access Bank, Rand Merchant Bank, and First City Monument Bank, recorded moderate inflows.

The report suggests improving investor confidence in Nigeria’s financial markets, particularly in short-term instruments, amid ongoing monetary and fiscal reforms.

However, it also highlights structural concerns, as the dominance of portfolio investments and relatively low foreign direct investment point to weak long-term investment in the real sector.

Analysts say policymakers face the challenge of converting rising capital inflows into productive investments capable of driving sustainable economic growth, job creation, and industrial expansion.