The news text highlights the issue of billions of dollars flowing into a repealed academy while the maritime university upgrade is stalled. It discusses the challenges and controversies surrounding the academy's closure and the impact on the maritime sector in Nigeria.
SPECIAL REPORT: Nigeria’s maritime university upgrade stalls as billions flow into repealed academy Oil-well Dispute: Inside the report that restores Cross River’s hopeBeyond the maternal statistics: Turning commitment into action on maternal nutrition, By Rodio DialloSPECIAL REPORT: Inside Sokoto’s fight against polio vaccine hesitancyEXCLUSIVE: Why Tinubu fired Wale Edun as finance ministerBoycott the boycottables, By Eric Teniola Beyond the maternal statistics: Turning commitment into action on maternal nutrition, By Rodio DialloThe figure represents significant growth compared to both the corresponding period of 2025 and the preceding quarter, driven largely by portfolio investments.
Nigeria recorded $10.37 billion in capital importation in the first quarter of 2026, representing an 83.83 per cent increase compared to the $5.64 billion received in the corresponding period of 2025 The bureau’s latest Capital Importation Report also showed that foreign capital inflows increased by 60.97 per cent from the $6.44 billion recorded in the fourth quarter of 2025. According to the report, the increase reflects stronger investor participation in Nigeria’s financial markets during the period under review.
The report showed that portfolio investment remained the largest component of capital importation, accounting for $9.86 billion or 95.09 per cent of the total inflows recorded during the quarter. Other investments amounted to $374.48 million, representing 3.61 per cent of total capital imported, while foreign direct investment stood at $135.08 million, accounting for 1.30 per cent. The NBS noted that portfolio investment significantly outperformed other categories of capital inflows during the period.
Within the portfolio investment category, money market instruments attracted the highest inflows at $6.50 billion. Banking sector attracts largest share Sectoral analysis showed that the banking sector received the highest volume of foreign capital, attracting $7.55 billion, which represents 72.79 per cent of total capital imported during the period. The production and manufacturing sector received $152.27 million, accounting for 1.47 per cent of total inflows.
Other sectors that attracted foreign investments included agriculture, telecommunications, information technology services, oil and gas, healthcare, construction, education, consultancy services, transport, trading and shares. The United Kingdom emerged as the leading source of capital inflows into Nigeria during the first quarter of 2026. According to the report, investments originating from the UK amounted to $5.08 billion, representing 49.01 per cent of total capital importation.
The United States followed with $3.18 billion, accounting for 30.69 per cent, while South Africa contributed $983.83 million, representing 9.49 per cent of the total. Stanbic IBTC Bank Plc followed with $2.78 billion, or 26.79 per cent, while Rand Merchant Bank facilitated inflows of $930.82 million, accounting for 8.97 per cent.
Other banks that processed foreign capital inflows during the period included Access Bank, Citibank Nigeria, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank, Fidelity Bank and United Bank for Africa. The NBS stated that the capital importation statistics were compiled using information supplied by the Central Bank of Nigeria and reports submitted by commercial banks on fresh foreign capital brought into the country.
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