Abroad Revenue in Nigeria’s banking sector has risen by a whopping 93.25 percent year-on-year to $13.53bn in 2025, from $7.00bn reported in 2024, amid the ongoing signal of recapitalization by the Central Bank of Nigeria.
Data from the National Bureau of Statistics report on foreign investment showed that the banking sector remains the main source of foreign investment, accounting for $13.53bn of the total of $23.22bn reported in 2025, representing 58.26 percent of the total, up from 56.81 percent in 2024.
The increase reflects the growing interest of investors in Nigerian banks as they raise new capital to meet the new regulations introduced by the central bank, with industrial development activities driving large flows in all quarters of the year.
A breakdown of the data showed that income in the banking sector was strong throughout 2025, starting at $3.13bn in the first quarter, an increase of 51.3 percent from the $2.07bn recorded in the corresponding period of 2024.
In the second quarter, revenue increased to $3.41bn, an increase of 203.2 percent from $1.12bn in Q2 2024. In the third quarter, the bank’s revenues stood at $3.14bn, representing a strong increase of 442.2% from $579.48m reported to $579.48m, 2 the fourth recorded in Q3, 2 of $ 2.8 recorded in Q4. by 19.2 percent from $3.23bn in Q4 2024.
Some analysis showed that the banking sector retained the largest share of investment among all sectors in 2025, accounting for 55.44 percent in Q1, increased to 66.56 percent in Q2, limited to 52.25 percent in Q3, and increased again to 59.75 percent in Q4. This compares to 61.24 percent, 43.15 percent, 46.26 percent, and 63.46 percent reported in the corresponding quarters of 2024.
On the other hand, segment revenue declined year-on-year, falling 16.8 percent to $271.42m in 2025 from $326.04m in 2024.
Quarterly performance showed mixed trends, with Q1 revenue rising to $115.26m from $98.71m in 2024, but falling sharply in Q2 to $33.47m from $78.01m. The third quarter saw a recovery to $94.89m from $43.75m, while Q4 was down significantly to $27.79m compared to $105.57m in the same period of 2024.
On the other hand, investment-related investments increased significantly, rising by 424.9 percent to $6.77bn in 2025 from $1.29bn in 2024. This was driven by strong flows in all sectors, especially Q1, where investments rose to $2.10bn from $2.10bn, from $2.10bn in of Q5. $1.86bn from $294.55m. The second and fourth quarters also recorded notable increases to $873.32m and $1.94bn, respectively, compared to $40.44m and $879.16m in 2024.
Overall, Nigeria’s gross domestic product is expected to grow by 88.5 percent to $23.22bn in 2025, up from $12.32bn in 2024.
Quarterly data showed that total revenue rose across all periods, with Q1 increasing to $5.64bn from $3.38bn, Q2 increasing to $5.12bn from $2.60bn, Q3 increasing to $6.01bn from $1.25bn, and Q4 reaching $6.44bn from $ 5.09
The data shows that the banking sector has not only attracted the largest share of foreign investment but has also acted as the main driver of growth in total exports, supported by regulatory reforms and improved investor confidence.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, earlier disclosed that 32 banks have met the new funding requirements under the ongoing recapitalization program, before the deadline of March 31, 2026.
Speaking in Abuja at the Financial Policy Forum, Cardoso said, “The banking sector reform program is recording excellent progress, with 32 banks having met the revised funding requirements.
“This achievement has greatly strengthened the stability and capacity of the Nigerian banking system, positioning it to raise long-term capital, support productive investment, and play a key role in helping the transition towards a $1.0tn economy.”
The CBN earlier disclosed that Nigerian banks have attracted a total of N4.61tn in new capital under the restructuring programme.
A statement from the Apex Bank noted that 27 percent of this money comes from foreign investors, and this move has put banks in a position to take risks, support economic growth and grow the region.
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