FG Reports 83% Increase in Foreign Capital Inflows as Reserves Exceed $50bn

 

The Federal Government has announced an 83 per cent year-on-year increase in Nigeria’s capital importation, while the country’s foreign exchange reserves have risen above $50 billion.

The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed the figures on Monday, October 19, 2026, while delivering the keynote address at the third annual Multi-Door Courthouses and Alternative Dispute Resolution Stakeholders’ Summit in Lagos. 

According to the minister, Nigeria’s capital importation increased from approximately $5.5 billion in the first quarter of 2025 to more than $10 billion in the first quarter of 2026, representing an 83 per cent rise. She added that total capital importation reached $23 billion in 2025, compared with more than $12 billion recorded in 2024. 

Oduwole also stated that Nigeria’s economy grew by more than four per cent in 2025 and maintained a similar growth trajectory during the first half of 2026. She further reported that inflation declined from 33.2 per cent in 2024 to 14.63 per cent in September 2026.

The minister attributed the reported economic improvements to reforms introduced by President Bola Tinubu’s administration, including foreign exchange market reforms, the removal of the petrol subsidy, tax reforms and banking recapitalisation. 

She also disclosed that Nigeria’s non-oil exports had exceeded $6 billion, with products such as cocoa derivatives, fertiliser, cashew, dairy, paper products and cassava starch contributing to export earnings. According to her, expanding investment opportunities in manufacturing, agriculture, financial technology, renewable energy and infrastructure could help diversify the economy beyond oil.

However, Oduwole cautioned that the increase in capital inflows should not be measured by volume alone. She noted that a significant share of recent investments consisted of short-term portfolio investments in money market instruments and bonds, which can be more sensitive to changes in market conditions than long-term investments.

She said the government’s priority was to attract more sustainable investment capable of expanding local production, strengthening Nigerian businesses, increasing exports and creating employment opportunities.