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The Tinubu Media Support Group (TMSG) has described the surge in foreign capital inflows in 2025 as the continuation of the all-round investor confidence in the Nigerian economy.
This is in the aftermath of reports that the country recorded an inflow of $20.98 billion in the first ten months of the year, compared to capital inflows of $12.3 billion for the entire 2024.
In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG noted that under the watch of President Bola Tinubu, Nigeria’s capital inflow moved from $3.9 billion to $20.98 billion in two years.
It said: “From a foreign capital inflow of $3.9bn in 2023 to $12.3 billion in 2024 to $20.98 billion in the first ten months of 2025, it is clear that there is a massive surge in capital importation into the country since the advent of the President Bola Tinubu administration.
”In the words of the Governor of the Central Bank of Nigeria (CBN) Yemi Cardoso, it is tied to ‘strengthened macroeconomic management, FX market reforms, and improved transparency across the financial system.’
”But in simple terms, it is a result of the ongoing reform of President Tinubu, and this was why in only the first quarter of 2025, Nigeria recorded capital inflows of $5.6 billion, which exceeded the entire 2023 inflow.
”We view this as a reflection of the overall confidence in the Tinubu reforms, after the initial cautious optimism of the first few months of the administration by investors on one hand, and Nigerians in the diaspora on the other through improved foreign exchange flows.
”A high level of non-oil exports is also a major contributing factor especially as we have continued to see a surge in that sector to the extent that it grew 18% year-on-year, driven by exchange-rate flexibility and improved competitiveness under the new foreign exchange policy.
”But we also cannot ignore the fact that the country is ramping up daily crude production and averaging between 1.45 million and 1.52 million barrels per day as a result of the improved security situation in the oil-producing communities and fiscal incentives introduced by the administration.
”This has also led to Nigeria’s foreign reserves rising to their highest in 11 years, which has not only boosted investor confidence but also ensured some level of stability in the economy.
”As for diaspora remittances, we acknowledge that there have been stronger inflows through official channels as a result of the very narrow gap of about 2 per cent between the black market and the official exchange rate.”
TMSG urged Nigerians to continue to see the improvement in inflows as a reflection of better things to come especially as the economy is now regularly recording positive indicators.
