South African investors have channelled $983.83m into Nigeria in the first quarter of 2026 despite recurring xenophobic attacks against Nigerians and other African migrants in the country, new data from the National Bureau of Statistics has shown.
The figure represents a 90.31 per cent increase from the $516.96m recorded in the fourth quarter of 2025 and a 96.26 per cent rise from the $501.29m invested in the corresponding period of 2025.
An analysis of the NBS Capital Importation Report for Q1 2026 showed that South Africa was Nigeria’s third-largest source of foreign capital during the quarter, behind the United Kingdom and the United States, accounting for 9.49 per cent of the total $10.37bn capital imported into the country.
The latest inflow came despite renewed concerns over xenophobic attacks in South Africa, where Nigerians have repeatedly been among foreign nationals targeted during periodic outbreaks of violence.
South Africa has experienced major waves of xenophobic attacks since 2008, with fresh anti-migrant tensions resurfacing in recent months. The attacks have repeatedly strained diplomatic relations between Africa’s two largest economies and prompted calls in Nigeria for stronger action against South African interests.
