Nigeria’s investment recovery is being driven by short-term portfolio inflows rather than long-term foreign direct investment, raising fresh questions about the durability of the country’s economic rebound.
Foreign direct investment into Africa’s most populous nation more than doubled to $566.2 million in the first nine months of 2025, the highest level in four years.
Yet the improvement was eclipsed by $14.3 billion in portfolio inflows, nearly 25 times larger, reflecting investors’ preference for liquid, yield-driven assets over bricks-
