Abuja Overtakes Lagos as Nigeria’s Foreign Investment Leader

The Federal Capital Territory has emerged as Nigeria’s new top destination for foreign capital, ending Lagos’ decades-long dominance, according to newly released official data.

The National Bureau of Statistics’ Q1 2025 Capital Importation Report shows:
• Abuja attracted $3.04 billion in foreign investment
• Lagos recorded $2.54 billion during same period
• This represents a 20% investment gap between both locations

Following Lagos were Ogun State with $7.95 million, Oyo with $7.81 million, and Kaduna with $4.06 million.

Overall, Nigeria recorded a total capital importation of $5.64 billion in Q1 2025 — a 67.12 percent increase from the $3.37 billion reported in Q1 2024. Compared to Q4 2024, which recorded $5.08 billion, capital inflow rose by 10.86 percent.

According to the NBS, Portfolio Investment accounted for the largest share at $5.20 billion (92.25 percent), followed by Other Investments at $311.17 million (5.52 percent). Foreign Direct Investment (FDI) was the lowest contributor with $126.29 million (2.24 percent).

“The Banking sector recorded the highest inflow with $3.12bn, representing 55.44 percent of total capital imported in Q1 2025, followed by the Financing sector, valued at $2.09bn (37.18 percent), and Production/ Manufacturing sector with $129.92m (2.30 percent),” the report said.

“Capital Importation during the reference period originated largely from the United Kingdom with $3.68bn, showing 65.26 percent of the total capital imported. This was followed by the Republic of South Africa with $501.29m (8.88 percent) and Mauritius with $394.51m (6.99 percent).

“Out of the five states that recorded capital importation during the quarter, Abuja (FCT) remained the top destination with $3.04bn, accounting for 54.11 percent of the total capital imported. Lagos State followed with $2.56bn (45.44 percent), and Ogun state with $7.95m (0.14 percent).

“Others were Oyo and Kaduna States with $7.81m and $4.06 Million respectively. Standard Chartered Bank Nigeria Ltd received the highest capital importation into Nigeria in Q1 2025 with $2.10bn (37.29 percent), followed by Stanbic IBTC Bank PLC with 1.39bn (24.78 percent) and Citibank Nigeria Limited with US$1.05bn (18.66 percent).”