FCT becomes Nigeria’s top investment hub

The Federal Capital Territory (FCT) has emerged as Nigeria’s top destination for foreign capital inflow in the first quarter of 2025, displacing Lagos State for the first time, according to the latest report from the National Bureau of Statistics (NBS).

The report, titled Nigeria Capital Importation Q1 2025, revealed that the FCT attracted $3.04 billion in foreign investment, ahead of Lagos which recorded $2.54 billion during the same period.

This marks a historic shift, as Lagos has traditionally held the position as the country’s top investment hub. Following Lagos were Ogun State with $7.95 million, Oyo with $7.81 million, and Kaduna with $4.06 million.

Overall, Nigeria recorded a total capital importation of $5.64 billion in Q1 2025, reflecting a significant 67.12 percent increase compared to the $3.37 billion recorded in Q1 2024. The figure also represents a 10.86 percent rise from Q4 2024’s $5.08 billion.

The report shows that portfolio investments dominated the inflow, accounting for $5.20 billion or 92.25 percent of the total. Other investments followed with $311.17 million (5.52 percent), while Foreign Direct Investment (FDI) contributed the least at $126.29 million (2.24 percent).

The banking sector attracted the highest investment, receiving $3.12 billion or 55.44 percent of the total inflow.

It was followed by the financing sector with $2.09 billion (37.18 percent), and the manufacturing/production sector with $129.92 million (2.30 percent).

In terms of source countries, the United Kingdom led with $3.68 billion (65.26 percent of total capital), followed by South Africa with $501.29 million (8.88 percent), and Mauritius with $394.51 million (6.99 percent).

Standard Chartered Bank Nigeria Ltd facilitated the highest volume of capital inflow, receiving $2.10 billion (37.29 percent).

Stanbic IBTC Bank Plc followed with $1.39 billion (24.78 percent), and Citibank Nigeria Limited recorded $1.05 billion (18.66 percent).