Nigeria recorded approximately $21 billion in capital importation in the first 10 months of 2025, marking a sharp increase from about $12 billion in 2024 and under $4 billion in 2023.
The disclosure was made by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, on Wednesday during her defence of the ministry’s 2026 budget proposal before the Joint House of Representatives Committee on Commerce in Abuja.
The development signals a strong rebound in investor confidence, as the minister also sought an upward review of the ministry’s proposed N2.72 billion capital budget for 2026.
The minister told lawmakers that the ministry’s 2026 programmes are structured around industrial growth, trade expansion, and investment promotion, but warned that current capital provisions may limit full execution of priority projects.
Oduwole attributed the surge in capital inflows to deliberate investment facilitation strategies undertaken by the ministry. She noted that structured engagement with domestic and foreign investors has played a central role in repositioning Nigeria as a competitive investment destination.
“On investment, Nigeria recorded total capital importation of approximately $21 billion in the first ten months of 2025, up from about $12 billion in 2024 and under $4 billion in 2023.”
“The curation of over $5 billion in bankable projects, sector-specific deal rooms, and Nigeria’s inaugural domestic investors’ summit” contributed to the rebound.
“We are poised to strengthen Nigeria’s productive base by connecting global and regional demand and capital with domestic supply capacity in support of national development priorities.”
She explained that these initiatives helped re-engage domestic investors, resolve about 50 major investor bottlenecks, and move several projects from proposal stages to implementation.
The minister also provided updates on the ministry’s budget performance and broader trade indicators. She highlighted improved revenue remittances, capital deployment efficiency, and Nigeria’s expanding trade footprint.
The 2024 budget stood at N14.39 billion, with N8.36 billion allocated for capital projects, of which 93.2 percent was released and fully deployed; revenue exceeded target by about N154 million and was remitted to the Consolidated Revenue Fund.
In 2025, total appropriation was N11.80 billion, but none of the N3.89 billion capital allocation had been released despite surpassing revenue targets by about N100 million, which was fully remitted.
Nigeria recorded total trade valued at approximately N113 trillion in the first three quarters of 2025.
Exports rose by around 11 percent year-on-year to approximately $6.1 billion, the highest level recorded in both value and volume terms.
Oduwole further disclosed that the ministry conducted over 100 bilateral investment engagements across multiple jurisdictions, strengthening ties with newer partners such as the United Arab Emirates, Brazil, and Japan, while deepening relationships with the United States and the United Kingdom.
She noted that sustained engagement under the Nigeria–UK Economic and Trade Partnership, which began in the second quarter of 2024, resulted in UK investors accounting for roughly 65 percent of Nigeria’s foreign capital inflows in 2025. In addition, Special Economic Zones generated more than $500 million in export revenues and created over 20,000 direct jobs.
The proposed 2026 budget is aligned with the National Development Plan and the Medium-Term Expenditure Framework submitted to the National Assembly. The minister said the funding framework is designed to stimulate economic growth through targeted industrial and trade interventions.
The ministry has proposed a N2.72 billion capital budget for 2026 and is seeking an upward review to fast-track execution priorities.
Interventions are anchored on a “Nigeria First” approach that prioritises local production and non-oil exports.
Plans include expansion of industrial clusters and strengthening of Special Economic Zones nationwide.
Reported earlier that capital inflows into Nigeria surged to $5.6 billion in the first quarter of 2025.
