Nigeria's net foreign liabilities climb to $90.2 billion

This rise indicates that foreign investors' claims on Nigerian assets grew faster than Nigeria's investments abroad. The Central Bank of Nigeria's International Investment Position report showed that net financial liabilities rose from $82.7 billion in 2024 to $90.2 billion in 2025. This position is based on external assets of $125.6 billion and foreign liabilities of $215.8 billion.

The increase in external liabilities was primarily driven by a $10.1 billion rise in portfolio investment liabilities, largely from foreign investments in government debt instruments, attracted by high yields. Direct investment liabilities also increased by $6.7 billion year-on-year, reflecting stronger foreign ownership in Nigerian companies. On the asset side, Nigeria's reserve assets grew by $5.6 billion, and other foreign assets held by Nigerians contributed an additional $3.3 billion.

However, the expanding liability position highlights Nigeria's increasing reliance on foreign capital inflows. While foreign investment has supported foreign exchange liquidity, a high concentration of short-term portfolio investments could expose the economy to sudden capital outflows. Economists suggest that attracting more long-term foreign direct investment, expanding non-oil export earnings, and maintaining stronger reserve accumulation are crucial for exte