By Anthony Otaru, Abuja
The Federal Capital Territory (FCT) has been named the top destination for foreign investment into Nigeria, according to a report by the National Bureau of Statistics (NBS).
The report titled “Nigeria Capital Importation, Q1 2025” said the FCT attracted $3.04bn, surpassing the $2.54bn Lagos attracted during the period.
The report obtained by ThisNigeria stated that this will be the first time Lagos will lose its first place as the top destination for foreign investment into the country.
The report added that Lagos is followed by Ogun State with $7.95m, Oyo with $7.81m and Kaduna with $4.06 million.
It added that, in comparison to the preceding quarter of Q4 2024, capital importation increased by 10.86 per cent from $5.08 billion.
It stressed that Portfolio Investment ranked top with $5.20bn, accounting for 92.25 per cent, followed by other investments with $311.17m, accounting for 5.52 per cent, and Foreign Direct Investment recorded the least with $126.29m (2.24 per cent) of total capital importation in Q1 2025.
“The Banking sector recorded the highest inflow with $3.12bn, representing 55.44 per cent of total capital imported in Q1 2025, followed by the Financing sector, valued at $2.09bn (37.18 per cent), and the Production/ Manufacturing sector with $129.92m (2.30 per cent).
“Capital Importation during the reference period originated mainly from the United Kingdom with $3.68bn, showing 65.26 per cent of the total capital imported. This was followed by the Republic of South Africa with $501.29m (8.88 per cent) and Mauritius with $394.51m (6.99 per cent).
“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 per cent of the total capital imported. Lagos State followed with $2.56 billion (45.44 per cent), and Ogun State with $7.95 million (0.14 per cent).
“Others were Oyo and Kaduna States with $7.81m and $4.06 million respectively. Standard Chartered Bank Nigeria Limited received the highest capital importation into Nigeria in Q1 2025 with $2.10bn (37.29 per cent), followed by Stanbic IBTC Bank PLC with $1.39 bn (24.78 per cent) and Citibank Nigeria Limited with US$1.05bn (18.66 per cent).”
