The Federal Government has urged investors to channel more capital into factories, infrastructure and manufacturing, saying Nigeria’s recent surge in capital inflows has been driven largely by portfolio investment rather than job-creating sectors.
In his keynote address at the LCCI Invest Nigeria Conference & Expo 2026 on Tuesday, said that the surge in portfolio inflows was driven by foreign exchange stability, attractive yields and growing confidence in the country’s macroeconomic policy.
Represented by Jumoke Oduwole, minister of Industry, Trade and Investment, he said capital importation rose from approximately $4 billion in 2023 to $23 billion in 2025, with a further $10 billion recorded in the first quarter of 2026.
However, he noted that the country needs more of the investments moving into factories, infrastructure, processing capacity and businesses that can grow, employ and export.
He said that the government is beginning to see that shift. According to him, the country
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