Nigeria's FDI hits $565M in 9M 2025, just 3.3% of total inflows
Nigeria attracted only $565.21 million in Foreign Direct Investment (FDI) during the first nine months of 2025, according to National Bureau of Statistics (NBS) data. Despite strong overall capital inflows totaling $16.78 billion year-to-date, FDI accounted for just 3.3% of total inflows, with portfolio investment dominating at over $14 billion. FDI rose sequentially from $126.29 million in Q1 to $142.67 million in Q2 and $296.25 million in Q3, but remains dwarfed by short-term capital flows. The trend reflects structural imbalances, with financial services attracting $3.14 billion in Q3 while manufacturing received only $261.35 million. Key sources included the UK ($2.94 billion), US ($950.47 million), and South Africa ($773.95 million), though data doesn't distinguish FDI from portfolio inflows. This highlights Nigeria's reliance on yield-driven portfolio investment rather than long-term, productivity-enhancing capital.