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Nigerian investors injected a total of US$103.61 million into Ghana’s economy within the first nine months of 2025, according to data released by the Ghana Investment Promotion Centre (GIPC).
The figures point to a growing Nigerian investment presence in Ghana, largely driven by a sharp increase in capital inflows during the second quarter of the year.
In the first quarter, from January to March, Nigerian investment activity remained low, with only three projects registered at a combined value of US$0.60 million. During this period, Nigeria lagged behind major investment sources such as China.
However, investment momentum rose significantly in the second quarter. Between April and June, five Nigerian-backed projects were registered with an estimated value of US$102.01 million. This surge pushed Nigeria to the top of Ghana’s investment value rankings for the quarter, overtaking countries including China and the United Arab Emirates.
Investment levels slowed in the third quarter, spanning July to September, with one project registered at a value of US$1.00 million. This brought total Nigerian investment inflows for the nine-month period to US$103.61 million.
According to the GIPC, the data indicates that Nigerian investments in Ghana are increasingly shifting from small-scale trade activities to high-value ventures requiring substantial capital commitments.
Analysts attribute the trend to rising investor confidence in Ghana’s economic environment and Nigeria’s expanding role as a major source of foreign direct investment within the West African sub-region.
