Nigeria posts trade surplus as capital importation surges in 2025

Nigeria attracted about $21bn in capital inflows in the first 10 months of 2025, a sharp rise from $12bn in 2024 and less than $4bn in 2023, according to the country’s minister of industry, trade and investment.

Jumoke Oduwole disclosed the figures on Wednesday while defending her ministry’s budget before the House of Representatives committee on commerce.

The latest total represents a 75% increase on 2024 levels and more than a fourfold rise compared with 2023, signalling what the government says is renewed investor confidence following a series of economic reforms.

Capital importation – which includes foreign direct investment, portfolio investment and other financial flows – has been closely watched in Nigeria since currency reforms and subsidy removals triggered volatility but were intended to liberalise the economy.

Oduwole told lawmakers that the ministry had undertaken more than 100 bilateral investment engagements at home and abroad, strengthening commercial ties with new partners such as the United Arab Emirates, Brazil and Japan, as well as longstanding partners including the US and the UK.

She said UK investors accounted for about 65% of Nigeria’s foreign capital inflows in 2025, making Britain the single largest source of external investment.

On trade, the minister said Nigeria recorded a surplus in 2025, with total trade valued at about ₦113tn in the first three quarters of the year.

Exports rose by roughly 11% year on year to $6.1bn, which she described as the highest level on record in both value and volume.

The figures come as Africa’s largest economy seeks to stabilise its currency, curb inflation and attract long-term investment to diversify beyond oil dependence.