FCT Displaces Lagos, Emerges Nigeria’s Top Foreign Investment Destination

The Federal Capital Territory (FCT) has emerged as the top destination for foreign investment into Nigeria, according to a report by the National Bureau of Statistics (NBS).

The report, titled ‘Nigeria Capital importation, Q1 2025’, said that the FCT attracted $3.04bn to come ahead of Lagos State, which attracted $2.54bn during the period.

LEADERSHIP reports that this will be the first time Lagos State will lose its first place as the top destination for foreign investment into the country.

The report added that Lagos State was followed by Ogun State with $7.95m, Oyo State with $7.81m and Kaduna State with $4.06m.

The report showed that the country generated a total capital of $5.64bn, which is higher than the $3.37bn recorded in Q1 2024, indicating an increase of 67.12 percent.

It added that in comparison to the preceding quarter of Q4 2024, capital importation increased by 10.86 percent from $5.08bn.

It explained that Portfolio Investment ranked top with $5.20bn, accounting for 92.25 per cent, followed by other investments with $311.17m, accounting for 5.52 per cent and Foreign Direct Investment recorded the least with $126.29m (2.24 per cent) of total capital importation in Q1 2025.

“The Banking sector recorded the highest inflow with $3.12bn, representing 55.44 per cent of total capital imported in Q1 2025, followed by the Financing sector, valued at $2.09bn (37.18 per cent), and Production/ Manufacturing sector with $129.92m (2.30 per cent).

“Capital Importation during the reference period originated largely from the United Kingdom with $3.68bn, showing 65.26 per cent of the total capital imported. This was followed by the Republic of South Africa with $501.29m (8.88 per cent) and Mauritius with $394.51m (6.99 per cent).

“Out of the five states that recorded capital importation during the quarter, Abuja (FCT) remained the top destination with $3.04bn, accounting for 54.11 per cent of the total capital imported. Lagos State followed with $2.56bn (45.44 per cent), and Ogun state with $7.95m (0.14 per cent).

“Others were Oyo and Kaduna States with $7.81m and $4.06 Million, respectively. Standard Chartered Bank Nigeria Ltd received the highest capital importation into Nigeria in Q1 2025 with $2.10bn (37.29 per cent), followed by Stanbic IBTC Bank PLC with 1.39bn (24.78 per cent) and Citibank Nigeria Limited with US$1.05bn (18.66 per cent),” the NBS report stated.