The Federal Capital Territory (FCT) has surpassed Lagos as Nigeria’s leading hub for foreign investment, according to the Nigeria Capital Importation report for Q1 2025, released by the National Bureau of Statistics (NBS).
The report marks a historic shift, with the FCT attracting $3.04 billion in capital inflows, edging out Lagos, which recorded $2.54 billion during the same period.
This is the first time Lagos has been displaced from its long-standing position as Nigeria’s primary investment destination, as reported by Daily Trust.
The NBS data highlights a robust 67.12% increase in total capital importation, reaching $5.64 billion in Q1 2025, compared to $3.37 billion in Q1 2024.
The figure also reflects a 10.86% rise from $5.08 billion in Q4 2024.
The report breaks down the investment types, with Portfolio Investment leading at $5.20 billion (92.25% of the total), followed by Other Investments at $311.17 million (5.52%), and Foreign Direct Investment (FDI) at $126.29 million (2.24%).
The banking sector dominated capital inflows, securing $3.12 billion (55.44%), followed by the financing sector with $2.09 billion (37.18%) and the production/manufacturing sector with $129.92 million (2.30%).
The United Kingdom emerged as the largest source of capital, contributing $3.68 billion (65.26%), followed by South Africa with $501.29 million (8.88%) and Mauritius with $394.51 million (6.99%).
Among Nigerian states, the FCT led with $3.04 billion (54.11% of total inflows), followed by Lagos with $2.56 billion (45.44%).
Other states, including Ogun ($7.95 million), Oyo ($7.81 million), and Kaduna ($4.06 million), recorded significantly lower inflows.Standard Chartered Bank Nigeria Ltd facilitated the highest capital importation, receiving $2.10 billion (37.29%), followed by Stanbic IBTC Bank PLC with $1.39 billion (24.78%) and Citibank Nigeria Limited with $1.05 billion (18.66%).
The rise of the FCT as Nigeria’s top investment destination signals a shift in economic dynamics, potentially driven by its growing infrastructure and strategic position as the nation’s capital.
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