Nigeria’s manufacturing sector recorded a sharp decline in foreign capital inflows in the first quarter of 2026, as total capital importation into Nigeria surged to its strongest level in recent periods.
Data released by the National Bureau of Statistics shows that the production and manufacturing sector attracted $152.27m, accounting for 1.47 per cent of the $10.37bn total capital imported during the quarter.
This represents a 50.7 per cent decline from $308.93m recorded in the fourth quarter of 2025, highlighting weaker quarterly investor appetite for industrial production.
However, inflows were 17.2 per cent higher year-on-year compared to $129.92m in the first quarter of 2025, indicating modest annual improvement.
Total capital importation rose 83.8 per cent year-on-year from $5.64bn in the first quarter of 2025, driven largely by portfolio investments and other short-term inflows rather than long-term productive capital.
