Nigeria recorded a sharp increase in capital importation in April 2026, with inflows rising by 256.9 per cent year-on-year to $2.82 billion, according to the Central Bank of Nigeria, CBN. The latest figures represent a significant increase from the $0.79 billion recorded in April 2025, suggesting stronger investor confidence in the Nigerian economy.
However, the latest Nigeria capital importation figures also showed a monthly decline, as inflows dropped by 26.7 per cent from $3.85 billion recorded in March 2026. The CBN attributed the month-on-month decline largely to reduced foreign portfolio investment, foreign direct investment and other investments.
According to the apex bank’s latest Economic Report, foreign portfolio investment fell from $3.62 billion in March to $2.66 billion in April.
The decline was linked mainly to lower purchases of money market instruments and bonds. Other investments, largely comprising loans, also fell from $0.16 billion to $0.14 billion during the period. Foreign direct investment recorded a more significant contraction, declining from $0.06 billion in March to $0.03 billion in April.
Despite the reductions, portfolio investment remained the dominant component of Nigeria’s capital inflows. The CBN said portfolio investment accounted for 94.13 per cent of total inflows, while other investments represented 4.89 per cent. Foreign direct investment contributed only 0.98 per cent of the total.
The banking sector emerged as the biggest recipient of capital inflows during the month. It accounted for 68.26 per cent of the total capital imported into the country. Financing followed with 26.54 per cent, while shares and telecommunications attracted 1.68 per cent and 1.05 per cent respectively.
Other sectors received the remaining inflows. The concentration of Nigeria capital importation within the banking and financing sectors indicates that financial activities continued to account for the overwhelming share of foreign capital entering the economy during the period.
State-level analysis showed a heavy concentration of capital inflows in Lagos. The state attracted 61.92 per cent of total inflows during April. The Federal Capital Territory followed with 37.74 per cent, placing the two locations far ahead of other destinations. Akwa Ibom received 0.21 per cent of total inflows, while Kano and Ogun states each accounted for 0.04 per cent. The remaining inflows were distributed among other states.
Meanwhile, Nigeria recorded a significant reduction in capital outflows during the month. The CBN reported that capital outflows fell to $2.21 billion in April from $4.33 billion in March 2026.
The decline in outflows occurred alongside the strong year-on-year rise in capital inflows. While the monthly fall highlights fluctuations in investment activity, the substantial annual increase in Nigeria capital importation points to a stronger inflow position compared with the same period of 2025.
