Jumoke Oduwole, minister of industry, trade and investment, says Nigeria attracted about $21 billion in capital importation in the first 10 months of 2025 — a sharp rise from $12 billion recorded in 2024 and less than $4 billion in 2023.
Oduwole disclosed this on Wednesday while defending the ministry’s 2026 budget proposal before the House of Representatives Joint Committee on commerce, industry and small and medium enterprises (SMEs).
Capital importation refers to the inflow of foreign funds used to finance investments, trade and manufacturing activities in a country.
