The figures highlight a strong and growing Nigerian investment footprint in Ghana, driven largely by a significant surge in capital inflows during the second quarter of the year.
In the first quarter, covering January to March, Nigerian investment activity was relatively subdued. Only three projects were registered, with a combined value of US$0.60 million, placing Nigeria well behind traditional heavyweights such as China.
However, the trend shifted dramatically in the second quarter. Between April and June, Nigerian investors registered five projects valued at an estimated US$102.01 million. This single-quarter performance propelled Nigeria to the top of Ghana’s investment value rankings, surpassing all other source countries, including China and the United Arab Emirates.
Investment activity moderated in the third quarter, from July to September, with one additional 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.
The GIPC data suggests that Nigerian participation in Ghana’s economy is increasingly moving beyond trade and retail into higher-value, boardroom-level investments backed by substantial capital.
Analysts say the trend reflects growing investor confidence in Ghana’s investment climate and highlights Nigeria’s expanding role as a key regional source of foreign direct investment.
