10 countries with the highest foreign investment into Nigeria

Since assuming the presidency of Nigeria, Bola Ahmed Tinubu has been actively seeking to attract investors in a bid to revive Nigeria's crippling economy bedevilled by slow growth, rising inflation and huge debt.

However, doing this hasn't been easy. For example, amidst these efforts, there has been a massive corporate exodus from the country due to reforms like fuel subsidy removal and the floating of the naira, which has elevated the cost of doing business in Africa's largest economy.

Nevertheless, the president has been fervently assuring investors of policy consistency while reiterating Nigeria's readiness for business. There remains optimism and anticipation for positive outcomes with these assurances.

Notably, according to the National Bureau of Statistics in its latest "Nigeria Capital Importation report" the country pulled in around $1.09 billion in total capital in Q4 2023, a bit more than the $1.06 billion in Q4 2022, showing a 2.62% boost. In contrast to the previous quarter, there was a huge surge of 66.27%, rising from $654.65 million in Q3 2023.

In Q4 2023, other Investments took the lead, constituting 54.64% (US$594.74 million) of the total capital importation. It was followed by portfolio Investment at 28.46% (US$309.76 million) and foreign direct investment (FDI) at 16.90% (US$183.97 million).

During the reference period, the majority of capital importation originated from the United Kingdom, contributing US$267.24 million and holding a share of 24.55%. Following closely were Mauritius with US$226.18 million (20.78%) and the Netherlands with US$149.93 million (13.77%).

Below are 10 countries with the highest foreign investment into Nigeria: