Capital Importation Climbs to $21bn Between January and October 2025 – FG
Nigeria has recorded a significant surge in capital importation, attracting approximately $21 billion in the first ten months of 2025, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has disclosed. The figure represents a substantial increase compared with about $12 billion in 2024 and less than $4 billion in 2023, according to remarks made during the defence of the ministry’s 2026 budget proposal before the Joint House of Representatives Committee on Commerce in Abuja.
What Capital Importation Means for Nigeria
Capital importation reflects the total flows of foreign money entering Nigeria to support investment, trade, manufacturing, and productive economic activities. It includes foreign direct investment (FDI), portfolio investment, and other long-term financing that can stimulate jobs, infrastructure development, and industrial expansion.
Oduwole: Renewed Confidence and Strategic Interventions
Dr. Oduwole told lawmakers that the jump in capital imports underscores a restoration of investor confidence in Nigeria’s economy, following targeted policy reforms under President Bola Tinubu’s Renewed Hope Agenda. She highlighted intentional efforts by the ministry to strengthen investment facilitation and broaden engagement with investors.
“We curated over $5 billion in bankable projects, established sector-specific deal rooms, and hosted Nigeria’s first Domestic Investors’ Summit,” Oduwole said, adding that these measures helped “resolve about 50 long-standing investor bottlenecks and accelerate project implementation.”
The minister also noted that more than 100 bilateral investment engagements were conducted in 2025 with both traditional and new partners, including the United Arab Emirates, Brazil, Japan, the United States, and the United Kingdom. According to her, sustained collaboration through the Nigeria–UK Economic and Trade Partnership significantly boosted inflows, with UK investors accounting for roughly 65% of the country’s foreign capital received in 2025.
Trade Performance and Export Growth
Oduwole linked the capital importation uptick to broader improvements in trade performance. She reported that Nigeria achieved a trade surplus in 2025, with total trade valued at about ₦113 trillion in the first three quarters and exports rising by approximately 11% year-on-year to around $6.1 billion the highest level ever recorded in both value and volume.
Special Economic Zones (SEZs) were also highlighted for their contribution to industrial diversification, generating over $500 million in export revenues and creating more than 20,000 direct jobs.
Budget Constraints and Calls for Funding Expansion
Despite the positive indicators, Oduwole urged lawmakers to reconsider the ministry’s proposed ₦2.72 billion capital budget for 2026, describing the allocation as insufficient to sustain momentum and fully execute priority programmes. In 2025, she noted, none of the ₦3.89 billion capital allocation had been released, even as personnel and overhead funds were fully utilized.
“The emphasis remains ‘Nigeria First’, prioritizing local production and non-oil exports. Domestic investors will remain the anchor and strongest signal of confidence in the economy,” she said, stressing the need for enhanced financial support to align the ministry’s programmes with national development goals.
Implications for the Nigerian Economy
Analysts view the surge in capital imports as a strong signal that foreign and domestic investors are increasingly willing to commit long-term resources in Nigeria’s productive sectors a vital component for sustainable economic growth. With trade performance strengthening and export volumes rising, the recent figures point to ongoing structural shifts in the investment landscape and highlight the importance of policy coherence, budget support, and improved ease-of-doing-business conditions.
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