The Federal Capital Territory (FCT) has overtaken Lagos as Nigeria’s leading destination for foreign investment, according to the latest data released by the National Bureau of Statistics (NBS).
The report, titled Nigeria Capital Importation, Q1 2025, revealed that the FCT attracted $3.04 billion in capital inflows, ahead of Lagos, which recorded $2.54 billion during the same period.
This marks the first time Lagos has been displaced from the top spot as Nigeria’s primary investment hub, according to Daily Trust.
Ogun State followed with $7.95 million, while Oyo and Kaduna recorded $7.81 million and $4.06 million respectively.
The report also stated that Nigeria recorded a total capital importation of $5.64 billion in Q1 2025—an increase of 67.12 percent compared to $3.37 billion in Q1 2024. When compared to the preceding quarter (Q4 2024), capital importation rose by 10.86 percent from $5.08 billion.
“Portfolio Investment ranked top with $5.20bn, accounting for 92.25 percent, followed by other investments with $311.17m, accounting for 5.52 percent and Foreign Direct Investment recorded the least with $126.29m (2.24 percent) of total capital importation in Q1 2025,” the report stated.
The banking sector emerged as the top recipient of capital inflows, attracting $3.12 billion, which represents 55.44 percent of the total. This was followed by the financing sector with $2.09 billion (37.18 percent) and the production/manufacturing sector with $129.92 million (2.30 percent).
“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),” the NBS noted.
“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 $1.05bn (18.66 percent).“
