Nigeria is getting capital, but not the kind that creates jobs

Nigeria attracted $10.37 billion in foreign capital during the first quarter of 2026, almost double the $5.64 billion recorded a year earlier and one of the strongest quarterly performances in recent history. At first glance, the numbers appear to validate the government’s economic reforms.

After two years of currency liberalisation, fuel-subsidy removal and aggressive monetary tightening, foreign investors are returning. But they are not returning in the way policymakers would ideally want.

Nearly 95 percent of total capital importation

Nigeria attracted $10.37 billion in foreign capital during the first quarter of 2026, almost double the $5.64 billion recorded a year earlier and one of the strongest quarterly performances in recent history. At first glance, the numbers appear to validate the government’s economic reforms.

After two years of currency liberalisation, fuel-subsidy removal and aggressive monetary tightening, foreign investors are returning. But they are not returning in the way policymakers would ideally want.

Nearly 95 percent of total capital importation

Source: Businessday.ng | Read the Full Story…