How much foreign capital Nigeria attracts and from where, how today's savings and investment options compare against inflation, and the rules and incentives for investors.
Capital importation recorded by the National Bureau of Statistics for Q1 2026. It counts money brought in through banks against a certificate of capital importation, which lets investors take their returns back out.
Mostly short-term money. Within portfolio investment: money market instruments $6.50bn, bonds $3.23bn and equities $131.81m. Portfolio money can leave as quickly as it arrives; foreign direct investment, which builds factories and businesses, remains a small share.
A second measure. The CBN's balance of payments, which measures flows differently, shows foreign direct investment inflows of $1.15bn and portfolio inflows of $7.09bn in Q2 2026, with a current account surplus of $7.54bn.
Q1 2026, US dollars and share of the total.
The source country is where the money was sent from, which is often a financial centre rather than the investor's home country.
Inflows collapsed between 2020 and 2023 as dollar shortages made it hard for investors to get money out, then recovered after the naira was allowed to float and FX backlogs were cleared.
Returns are the latest available, before tax and fees, compared with headline inflation of 14.63% (NBS, headline inflation, Sep 2026). This is a guide to how the options work, not advice on what to buy.
| Option | Return now | After inflation | Risk | Access to your money | How to buy |
|---|---|---|---|---|---|
| Treasury bills | 15.4–15.8% DMO auction, 28 Oct 2026 |
+1.0 pts | Low Very low: backed by the Federal Government | 91, 182 or 364 days; can be sold early on the secondary market | Through a bank, stockbroker or investment platform; auctions about every two weeks. |
| FGN Savings Bonds | 13.07–14.07% October 2026 offer |
−0.5 pts | Low Very low: backed by the Federal Government | 2 or 3 years; interest paid every quarter | From ₦5,000 (up to ₦50 million), through DMO-appointed stockbrokers and banks. |
| FGN bonds | 16.99–17.29% DMO auction, 19 Oct 2026 |
+2.3 pts | Medium Low credit risk; the price can fall if rates rise and you sell early | 5 to 30 years; interest every six months | Large amounts at the monthly auction; smaller amounts through bond funds or the secondary market. |
| Money market funds | 18.59–21.11% Top funds, August 2026 |
+4.3 pts | Low Low, but not guaranteed: returns depend on the fund's holdings and fees | Usually withdrawn within a few working days | Small amounts through SEC-registered fund managers and investment apps. Compare fees and past returns. |
| Shares (NGX) | +63.41% so far this year NGX All-Share Index; not a yearly rate |
High High: prices can fall sharply; dividends are not guaranteed | Sell on any trading day | Through an SEC-registered stockbroker, with a CSCS account. See the Stock Market page. | |
| Dollar Eurobonds | 5.39–8.48% in US$ DMO closing yields, 29 Oct 2026 |
Medium Medium: price and exchange-rate risk; returns are in dollars | Long-dated; can be sold before maturity | Usually through dollar bond funds or brokers with a domiciliary account. | |
| Bank fixed deposits | Varies by bank and amount Negotiate with your bank |
Low Low; deposits are insured by the NDIC up to a limit | Fixed term; early withdrawal may cost you interest | Ask for the rate in writing and compare it with Treasury bills. |
"After inflation" is the real return at the top of the range: (1 + return) ÷ (1 + inflation) − 1. Share returns are for the index so far this year, so no inflation comparison is shown. Past returns do not guarantee future returns. Check that any fund manager or broker is registered with the Securities and Exchange Commission. See the Money Markets page for auction details.
The main rules a business or foreign investor meets when putting money into Nigeria.
Replaced pioneer status from 1 January 2026 under the Nigeria Tax Act 2025. Companies in priority sectors get a tax credit of 5% a year on qualifying capital spending, instead of a blanket tax holiday. Priority sectors include manufacturing, refining, power, renewable energy, mining, waste management, film and music, and business process outsourcing. The NIPC grants it; minimum qualifying investment starts at ₦250 million.
Approved businesses in zones run under the Nigeria Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA) get customs and tax concessions, mainly for producing for export. Check the current conditions under the new tax laws before relying on an exemption.
Companies register with the Corporate Affairs Commission (CAC). Companies with foreign shareholders also register with the Nigerian Investment Promotion Commission (NIPC), and some sectors need a licence from their regulator.
Money brought in through a Nigerian bank receives a certificate of capital importation (CCI). It is the investor's evidence for taking dividends, interest and capital back out through the official FX market.
Replaced the 2007 Act. It sets the powers of the Securities and Exchange Commission over exchanges, fund managers and brokers, and brings digital assets and crowdfunding under regulation.
Dividends and interest can be subject to withholding tax, and gains on shares to capital gains tax above the exemption limits. See the Taxation and Stock Market pages.
For information only; not investment advice. Returns change with every auction and are not guaranteed.
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