Foreign investors are flocking to Nigeria, injecting $20.98 billion in the first ten months of 2025.
This surge marks a striking turnaround and clearly signals renewed confidence in the country’s economic prospects.
Foreign Investors Return
At the 60th Annual Bankers’ Dinner, Central Bank Governor Olayemi Cardoso highlighted that inflows rose 70% compared with 2024 and jumped 428% above the $3.9 billion recorded in 2023.
He explained that stronger macroeconomic management, reforms in the foreign exchange market, and increased financial transparency encouraged investors to return.
Moreover, data from the National Bureau of Statistics showed $5.6 billion in capital inflows during the first quarter, indicating that the positive trend began early in the year.
Rising Accounts And Reserves
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Consequently, Nigeria’s current account balance more than doubled, rising from $2.85 billion in Q1 to $5.28 billion in Q2, supported by rising non-oil exports and smoother FX market flows.
Meanwhile, foreign reserves climbed to $46.7 billion by mid-November, the highest level in nearly seven years, providing over ten months of import cover.
Cardoso emphasised that the growth resulted organically, driven by improved FX operations, robust non-oil exports, and buoyant capital inflows.
Non-Oil Growth And Remittance
In addition, non-oil exports grew more than 18% year-on-year, while diaspora remittances increased by 12%, boosted by improved transparency and efficient settlement channels.
Finally, the Central Bank plans to maintain a flexible exchange rate, allowing the naira to absorb shocks while limiting excessive volatility, strengthening Nigeria’s financial recovery.
