Nigeria attracted about 65 per cent of its recent foreign capital inflows from United Kingdom investors over the past year, with investments including $7.5m into Babban Gona and $40.5m into Johnvent Industries, the Federal Government has said.
The Federal Ministry of Industry, Trade and Investment, in the document titled ‘2025: A Defining Year for Nigeria’s Industry, Trade and Investment’, stated that investors from the United Kingdom contributed significantly to the rising investment inflows in the country.
The document reviewed reforms and outcomes under the Renewed Hope Agenda of President Bola Tinubu. According to the ministry, the strong UK inflows followed the activation of the UK–Nigeria Enhanced Trade and Investment Partnership and broader reforms aimed at restoring investor confidence and improving market access.
“UK investors now account for approximately 65 per cent of recent inflows, including $7.5m into Babban Gona and $40.5m into Johnvent Industries,” the trade ministry, led by Jumoke Oduwole, stated. It described the investment growth as evidence of renewed confidence in Nigeria’s reform trajectory.
The ministry noted that 2025 marked a defining phase in Nigeria’s economic repositioning, as coordinated reforms across investment attraction, trade expansion, and institutional strengthening translated policy intent into measurable outcomes.
It noted that Nigeria recorded a decisive turnaround in investment attraction under President Tinubu, with the government responding strategically to global economic headwinds and “clearly signalling that Nigeria is open for business.”
It added that Nigeria significantly strengthened its investment facilitation architecture during the year, shifting from passive promotion to an active, systems-driven model that reduced information gaps, improved project visibility and enhanced the bankability of investment pipelines.
As a result, the ministry said four priority projects valued at $13.7bn progressed, representing a conversion rate of over 25 per cent from the $50.8bn worth of signed Memoranda of Understanding.
“Through structured deal origination, FMITI has proactively built a de-risked pipeline exceeding $5bn across priority sectors,” the ministry stated, adding that the approach supported investors “from first engagement to firm commitment.”
The ministry linked the growing UK inflows to sustained bilateral engagements and trade modernisation efforts, noting that Nigeria deepened investment pipelines through high-level missions to the UK and other key economies.
Beyond foreign capital, the ministry highlighted progress in export-led growth, reporting that non-oil exports grew by 21 per cent to $12.8bn in the first half of 2025, nearly double the $6.5bn target.
The growth contributed to a N12tn trade surplus in the period, while overall trade value expanded by 14 per cent, driven by targeted trade reforms, improved export processes and increased value addition.
Nigeria’s leading non-oil exports included cocoa and cocoa derivatives, sesame seeds, cashew nuts, shea butter, ginger, hibiscus flower, rubber, palm oil derivatives, fertilisers, cement and liquefied natural gas.
The ministry noted that it worked with the Nigerian Export Promotion Council to train 27,352 exporters, certify 200 micro, small and medium enterprises for international trade and support 3,047 farmers through the distribution of hybrid seedlings.
The ministry also reported that Special Economic Zones generated over $500m in export revenues and created more than 20,000 direct jobs through the Nigerian Export Processing Zones Authority and the Oil and Gas Free Zones Authority.
Source: Apanews