Michael Eboh
Dublin, Ireland — Foreign capital inflow into the Nigerian oil and gas industry stood at $120,000 ($0.12 million) in the first quarter of 2025, unchanged from the same amount recorded in the fourth quarter of 2024, according to latest data released by the National Bureau of Statistics (NBS).
The NBS, in its Nigeria Capital Importation Report for the First Quarter of 2025, disclosed that the amount recorded in the quarter under review was a significant improvement from the zero inflow recorded in the first quarter of 2024.
The statistical body stated that the oil and gas sector accounted for 0.002 per cent of total foreign capital inflow into the economy in the quarter under review, same as in the fourth quarter of 2024.
The NBS recalled that in the first quarter of 2024, zero foreign capital inflow was recorded, in the second quarter of 2024, the country recorded foreign inflow of $5 million; while no inflow was recorded in the third quarter of 2024, and $0.12 million was recorded in the fourth quarter of 2024.
In general, the NBS stated that total capital importation into Nigeria in the first quarter of 2025 stood at $5.642 billion, 67.12 per cent higher than $3. 376 billion recorded in the first quarter of 2024.
It added in in comparison to the preceding quarter, foreign capital importation increased by 10.86 per cent from $5.089 billion in fourth quarter of 2024.
The NBS noted that portfolio investment ranked top with $5.206 billion, accounting for 92.25 per cent, followed by other investment with $311.17 million, accounting for 5.52 per cent, while Foreign Direct Investment recorded the least inflow with $126.29 million (2.24%) of total capital importation in first quarter 2025.
It added that the banking sector recorded the highest inflow with $3.128 billion, representing 55.44 per cent of total capital imported in first quarter 2025, followed by the Financing sector, valued at $2.097 billion (37.18 per cent of total inflow), and Production/Manufacturing sector with $129.92 million, representing 2.30 per cent of total inflow.
The NBS said: “Capital importation during the reference period originated largely from the United Kingdom with $3.681.96 million, showing 65.26 per cent of the total capital imported. This was followed by the Republic of South Africa with $501.29 million (8.88 per cent) and Mauritius with $394.51 million (6.99 per cent).
“Out of the five states that recorded capital importation during the quarter, Abuja (FCT) remained the top destination with $3.047 billion, accounting for 54.11 per cent of the total capital imported. Lagos State followed with $2564.68 million (45.44 per cent of the total), and Ogun state with $7.95million (0.14 per cent). Others were Oyo and Kaduna States with $7.81 million and 4.06 million respectively.”
