Abuja surpasses Lagos as leading destination for foreign investment

Abuja has overtaken Lagos as Nigeria’s top destination for foreign capital inflow, according to the Q1 2025 Capital Importation report released by the National Bureau of Statistics (NBS).

The report revealed that the Federal Capital Territory (FCT) attracted $3.04 billion in capital importation during the first quarter of 2025, surpassing Lagos, which drew $2.54 billion in the same period.

This marks the first time Lagos has lost its long-standing position as the country’s number one hub for foreign investment.

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).”

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