Foreign investment in manufacturing slumps 50.7% to $152m in Q1’26

Foreign investment in Nigeria's manufacturing sector declined sharply by 50.7% quarter-on-quarter to $152.27 million in Q1 2026, down from $308.93 million in Q4 2025, according to the latest Capital Importation Report from the National Bureau of Statistics (NBS). The sector accounted for only 1.47% of total capital inflows, while the banking sector dominated with $7.55 billion or 72.79%. On a year-on-year basis, investment rose 17.2% from $129.92 million in Q1 2025. Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), said the pattern reflects persistent structural weakness in the economy.