Investors from the United States channelled $2.23bn into Nigeria’s economy in the first nine months of 2025, marking a dramatic 566.02 per cent increase compared to the same period in 2024.
Figures from the latest Capital Importation report released by the National Bureau of Statistics show that US inflows rose from $334.71m between January and September 2024 to $2.229bn during the corresponding period in 2025 — a year-on-year jump of $1.89bn.
The sharp rise occurred despite renewed tariff measures introduced under US President Donald Trump, including a 15 per cent duty on selected Nigerian exports and additional trade penalties tied to broader foreign policy considerations.
A breakdown of the data reveals a steady acceleration in US investments throughout 2025. In the first quarter, inflows climbed to $368.92m, more than four times the $89.27m recorded in Q1 2024.
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The figure rose further to $909.84m in the second quarter, compared to $81.58m a year earlier, before reaching $950.47m in the third quarter, up from $163.86m in the same quarter of 2024.
Overall, Nigeria attracted $16.78bn in total capital importation during the first nine months of 2025, up from $7.23bn in the corresponding period of 2024. US investments accounted for a significant share of this rebound.
While American inflows represented 4.63 per cent of total capital importation in 2024, the share nearly tripled to 13.29 per cent in 2025.
Quarterly totals show that overall capital importation stood at $5.64bn in Q1 2025, dipped slightly to $5.12bn in Q2, and rose again to $6.01bn in Q3.
Strong US inflows in the second and third quarters helped stabilise overall foreign investment levels amid fluctuations from other sources.
The surge in American capital comes against the backdrop of evolving trade relations between the two countries.
Alongside tariff adjustments, the US government revised its visa reciprocity policy for Nigerian citizens in July 2025, reducing most nonimmigrant and non-diplomatic visas to single-entry permits valid for a maximum of three months.
A partial suspension of certain visa categories for Nigerians outside the US without valid visas is also scheduled to take effect from January 1, 2026, under Presidential Proclamation 10998.
Despite these measures, the latest data indicates that heightened tariffs and stricter visa policies have not discouraged US investors from committing funds to Africa’s largest economy.
Earlier, the United States Ambassador to Nigeria, Richard Mills Jr., stated that Washington’s engagement with Nigeria and sub-Saharan Africa would increasingly prioritise private-sector-led investment over traditional aid.
Speaking at a fireside chat at the Lagos Business School themed “Toward a Robust US-Nigeria Commercial and Investment Partnership,” he emphasised a strategic shift from aid to trade, aimed at deepening two-way investment and strengthening commercial ties.
To advance this objective, the US Department of Commerce, in collaboration with Nigeria’s Ministry of Industry, Trade and Investment, signed a commercial and investment partnership agreement last year to boost trade relations and expand business linkages between both nations.
