Nigeria yet to be major source of FDI, remittance in Sub-Saharan Africa – World Bank 

This was noted in the latest Global Economic Prospects 2025 report published by the World Bank.

The report noted that while Nigerian banks have expanded their presence across SSA, the country’s broader contributions to regional investment and financial flows remain modest.

This limited role contrasts sharply with Nigeria’s economic size and potential.

According to the World Bank, Nigeria’s participation in intraregional trade and investment remains below expectations.

The report read, “Despite having the largest economy and population in SSA, Nigeria has a modest intraregional role as an export destination and does not yet have a substantial role as a source of FDI or remittances, although its banks have a regional presence.”

Naijaonpoint earlier reported that the World Bank projected that Nigeria’s economy will grow by 3.5% in 2025 and improve slightly to 3.7% in 2026, driven by increased services sector activity and gradual improvements in macroeconomic stability.

Also, Naijaonpoint earlier reported that Nigeria’s total Capital Importation for the third quarter (Q3) of 2024 witnessed a 51.90% decline from the previous quarter, falling to $1.25 billion.

Other investments followed with $249.53 million, representing 19.92%, while Foreign Direct Investment (FDI), a critical indicator of long-term investor confidence, accounted for just $103.82 million, or 8.29%, marking a relative underperformance.

Lagos continued to dominate as the primary destination for capital inflows, receiving $650.41 million, or 51.92% of the total capital imported in Q3 2024.

The Federal Capital Territory (FCT), which includes Abuja, secured $600.02 million (47.90%), demonstrating the significant role of Nigeria’s political and economic hubs in attracting foreign investment.