Nigerian investors channelled a total of US$103.61 million into Ghana’s economy during the first nine months of 2025, according to the latest figures released by the Ghana Investment Promotion Centre (GIPC).

The data underscores a strengthening Nigerian investment presence in Ghana, largely driven by a sharp spike in capital inflows in the second quarter of the year.

Investment activity was modest in the first quarter (January–March), when only three Nigerian-backed projects were registered, with a combined value of US$0.60 million. During this period, Nigeria trailed behind major investment sources such as China.

A significant turnaround occurred in the second quarter (April–June). Nigerian investors registered five projects valued at approximately US$102.01 million, a performance that catapulted Nigeria to the top of Ghana’s investment value rankings for the quarter. The surge saw Nigeria outperform traditional leading investors, including China and the United Arab Emirates.

Momentum eased slightly in the third quarter (July–September), with one additional project recorded at a value of US$1.00 million.

Overall, the nine-month total brought Nigerian investment inflows to US$103.61 million.

According to the GIPC data, Nigerian investment in Ghana is increasingly shifting from small-scale trade and retail activities to larger, capital-intensive ventures involving strategic, board-level decision-making.

Industry analysts attribute the trend to rising confidence in Ghana’s investment environment and note that Nigeria is steadily emerging as a major regional source of foreign direct investment into the Ghanaian economy.