Nigeria recorded US$6.3 billion in net foreign portfolio investment inflows between January and August 2026, according to the Central Bank of Nigeria, as private-sector dollar flows and remittances supplied a larger share of foreign exchange to the economy.
The figure was disclosed by CBN Deputy Governor Muhammad Sani Abdullahi at a seminar for finance correspondents and business editors in Abuja.
Abdullahi said total foreign-exchange inflows reached about US$10.8 billion in July, of which approximately US$7.3 billion — nearly 68% — came from autonomous sources rather than direct central-bank supply.
Portfolio investment adds to dollar supply
Foreign portfolio investment refers to overseas investment in financial assets such as equities and debt securities. It is different from foreign direct investment, which normally involves longer-term ownership or investment in companies, factories and other productive assets.
The US$6.3 billion figure therefore should not be described as US$6.3 billion of new factories or business projects.
Portfolio capital can also move out of a market quickly. Abdullahi cautioned that these flows can reverse, making it important for Nigeria to continue developing more stable sources of foreign exchange and investment.
Remittances remain an important source of foreign exchange
Diaspora remittances have also become an increasingly important part of Nigeria’s formal foreign-exchange supply.
Inflows through international money transfer operators reached about US$950 million in July 2026, according to the CBN.
The increase in formal remittance channels provides additional dollar liquidity for households and businesses while reducing some of the pressure on the central bank to supply foreign currency directly into the market.
CBN data cited at the seminar also showed gross external reserves at US$55.6 billion as of September 11.
What the figures mean for businesses
A deeper and more liquid foreign-exchange market can make it easier for companies to plan imports, service foreign-currency obligations and price transactions with greater certainty.
For investors, the higher portfolio inflows indicate renewed interest in Nigerian financial assets, but the durability of that interest will depend on inflation, interest rates, exchange-rate stability and confidence in the wider economic policy environment.
The composition of inflows also matters. Portfolio funds can provide useful market liquidity, but direct investment, export earnings and recurring remittances generally provide a more stable foundation for long-term foreign-exchange supply.
The next figures to watch will be whether portfolio inflows remain positive through the final quarter of 2026, whether monthly remittances can remain close to the US$1 billion level and how the stronger reserve position affects access to foreign currency for Nigerian businesses.
Sources: Central Bank of Nigeria remarks delivered at the 38th Seminar for Finance Correspondents and Business Editors; BusinessDay and Punch reporting on the CBN figures.