Latest data released by FMDQ has shown that Foreign portfolio investors (FPIs) increased Nigeria’s foreign exchange inflows to $3.0 billion in January 2026.
This shows a 7 per cent month-on-month increase and marks the second consecutive month of recovery in FX supply.
The data shows that the 7 per cent month-on-month rise in FX inflows to $3.0 billion in January was largely driven by foreign portfolio investors seeking high returns in Nigeria’s fixed-income market.
Portfolio inflows more than doubled during the month, underscoring the influence of short-term capital in shaping liquidity conditions.
Foreign portfolio investment inflows surged by 151 per cent month-on-month to $1.6 billion with about 98 per cent of total portfolio inflows, equivalent to roughly $1.5 billion, channelled into fixed-income securities, while equities attracted $38.7 million.
International corporate inflows rose 83 per cent to $155.4 million, while foreign direct investment edged up marginally by $2 million to $50.3 million.
Offshore capital accounted for the bulk of FX supply growth, even as domestic sources weakened overall.
The data indicate that Nigeria’s high-yield environment, supported by tight monetary policy and attractive sovereign debt returns, continues to anchor external participation in the FX market.
