Nigeria’s capital importation recorded massive growth in the first quarter of 2026, surging 83.80 per cent year-on-year to hit a record $10.37bn, up from the $5.64bn recorded in Q1 2025.
According to the weekly economic analysis released by an investment firm, Meristem Securities Limited, this sharp, broad-based acceleration in foreign participation was primarily channelled through the local banking system.
“The banking sector stayed the primary gateway, attracting $7.55bn or 72.80 per cent of total inflows,” the report stated, adding that “financing activities followed at $2.43bn (23.40 per cent), leaving manufacturing at a marginal 1.50 per cent ($152.30m).”
Analysts at Meristem noted that the current investment wave favours short-term instruments rather than long-term infrastructure.
“This structure highlights that, despite the strong headline expansion compared to Q1 2025, capital importation remains largely a financial-market-driven cycle rather than a shift towards productive long-term investment,” the firm explained.
