Nigeria has recorded its highest level of foreign direct investment (FDI) in more than 10 years, attracting $4.01 billion in 2025. The latest figures were released in the World Investment Report 2026 by the United Nations Conference on Trade and Development (UNCTAD).
The report showed that investment into Nigeria increased by 148.4 percent compared to the $1.61 billion received in 2024. This strong growth was mainly driven by major oil and gas projects, which helped restore investor confidence in the country’s energy industry despite global economic challenges.
The new record is Nigeria’s best investment performance since 2014, when the country attracted $4.69 billion in foreign investment. It also marks Nigeria’s return to the list of Africa’s top five destinations for foreign investment for the first time since 2021.
According to the report, Nigeria ranked as the fourth-largest recipient of foreign direct investment in Africa in 2025, behind Egypt, Guinea, and Mozambique. Within West Africa, only Guinea attracted more investment than Nigeria.
UNCTAD explained that most of the investment came from international project financing in the oil and gas sector. One of the biggest projects was valued at around $2 billion. The report noted that Nigeria’s strong performance came at a time when many countries found it difficult to attract foreign investors because of global economic uncertainty, rising borrowing costs, trade tensions, and geopolitical conflicts.
The report also highlighted major business deals that contributed to the increase in investment. These included Shell’s sale of its onshore oil assets to Renaissance Africa Energy, a Nigerian-led consortium, and Huaxin Cement’s acquisition of Lafarge Africa. These transactions boosted investor activity and strengthened confidence in Nigeria’s economy.
Apart from oil and gas, Nigeria also received investments in refining, industrial manufacturing, battery storage, and other energy-related projects. However, the report noted that the country’s investment profile is still largely dominated by the extractive industries.
While foreign investment into Nigeria increased, the report revealed that Nigerian companies invested less abroad. Outward foreign direct investment fell to $1.19 billion in 2025, its lowest level since 2023. This suggests that more Nigerian businesses focused on domestic opportunities instead of expanding overseas.
The Federal Government has continued to introduce economic reforms aimed at attracting long-term investors as part of its plan to grow Nigeria into a $1 trillion economy by 2030.
Across West Africa, foreign direct investment rose by 44 percent to $20 billion in 2025, making the region one of Africa’s strongest-performing investment destinations. However, total investment across Africa dropped by 26 percent, falling from $94 billion in 2024 to $70 billion in 2025. Despite this decline, UNCTAD described Africa’s investment performance as one of the strongest seen over the past 25 years after adjusting for exceptional one-time transactions.
Globally, foreign direct investment increased by 6 percent to $1.6 trillion in 2025 after two years of decline. UNCTAD warned that although global investment is recovering, growth remains uncertain because investment is becoming concentrated in a few countries and sectors such as artificial intelligence, digital technology, semiconductors, and energy. The report also stressed that foreign direct investment remains one of the most important sources of funding for developing countries, helping to create jobs, improve technology, and support economic growth.
