• FCT, Abuja
The National Bureau of Statistics (NBS) says that Abuja has overtaken Lagos as Nigeria’s top destination for foreign direct investments (FDI), referencing the inflow in Q1 2025 .
In the report, Abuja, the Federal Capital Territory (FCT), attracted $3.04 billion in capital importation during the first quarter of 2025, surpassing Lagos, which drew $2.54 billion in the same period.
This marks the first time Lagos has lost its long-standing position as the country’s number one hub for foreign investments.
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 — a 67.12 percent increase from the $3.37 billion reported in Q1 2024. Compared to Q4 2024, which recorded $5.08 billion, capital inflow rose by 10.86 percent.
According to the NBS, Portfolio Investment accounted for the largest share at $5.20 billion (92.25 percent), followed by Other Investments at $311.17 million (5.52 percent).
Foreign Direct Investment (FDI) was the lowest contributor with $126.29 million (2.24 percent).“
The Banking sector recorded the highest inflow with $3.12bn, representing 55.44 percent of total capital imported in Q1 2025, followed by the Financing sector, valued at $2.09bn (37.18 percent), and Production/ Manufacturing sector with $129.92m (2.30 percent),” the report said.
“Capital Importation during the reference period originated largely from the United Kingdom with $3.68bn, showing 65.26 percent of the total capital imported.
This was followed by the Republic of South Africa with $501.29m (8.88 percent) and Mauritius with $394.51m (6.99 percent).