Nigeria’s foreign inflows are rising, but most of the money is chasing yields, not building factories or infrastructure. Without patient capital, growth risks becoming fragile.
Nigeria’s economy grew 4.23 percent year-on-year in Q2 2025, its fastest pace in four years. Foreign investors are back. The naira has stabilised. Policymakers are claiming victory.
But here’s what those headlines don’t say: most of the money flowing in isn’t the kind that builds economies. It’s the kind that vanishes at the first sign of trouble.
Hot mo
