•Only five states attracted investments as FCT displaces Lagos

James Emejoin Abuja

The country’s total capital importation stock increased by 10.86 per cent to $5.64 billion in the first quarter of the year (Q1 2025) compared to $5.08 billion in the preceding quarter, the National Bureau of Statistics (NBS) said yesterday.

Capital importation also recorded 67.12 per cent increase when compared to $3.37 billion in Q1 2024.

According to the Capital Importation report for the period under review, portfolio investment accounted for 92.25 per cent or $5.20 billion 4.61 million, followed by Other Investment class with 5.52 per cent or $311.17 million.

Foreign Direct Investment (FDI) recorded the least with inflows, contributing 2.24 per cent or $126.29 million of total capital importation.

The United Kingdom (UK) topped the capital importation chart with $3.68 billion, representing 65.26 per cent of the total liquidity inflows go the period.

This was followed by the Republic of South Africa with $501.29 million (8.88 per cent) and Mauritius with $394.51 million (6.99 per cent).

According to the NBS, only five states of the federation recorded capital inflows for the quarter under review.

The Federal Capital Territory (FCT) Abuja remained the top destination for foreign capital , accounting for $3.04 billion (54.11 per cent) of the total importation.

Lagos followed with $2.56 billion (45.44 per cent), and Ogun with $7.95 million (0.14 per cent).

Others were Oyo and Kaduna with $7.81 million and $4.06 million respectively.

According to the statistical agency, the banking sector recorded the highest inflow with $3.12 billion, representing 55.44 per cent of total capital imported in Q1.

This was followed by the financing sector, valued $2.09 billion (37.18 per cent), and production/manufacturing sector with $129.92 million (2.30 per cent).

Standard Chartered Bank Nigeria Limited received the highest capital importation with $2.10 billion (37.29 per cent), followed by Stanbic IBTC Bank Plc with $1.39 billion (24.78 per cent) and Citibank Nigeria Limited $1.05 billion (18.66 per cent).

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