Nigeria’s biggest firms are accelerating spending on the acquisition of property, plant, and equipment (PPE) as the relative stability in the foreign exchange market validates a gradual economic recovery.
Data gathered by MoneyCentral shows that listed firms collectively spent N1.09 trillion on new assets in the first three months of 2026, which is 84 percent higher than 2025’s N597.64 billion.
Of course, such spending is strengthened by reducing borrowing costs and economic confidence even as the war in the Middle East could boost inflationary pressures.
Some chief executives of blue-chip entities ramp up capital spending when they expect growth in future sales. For instance, some technology firms who are proactive are spending in anticipation of the artificial intelligence (AI) boom which is expected to boost their stock prices and enhance dividend payment and share buy backs.
The yield on Nigeria 10 year bond yield held steady at 14.96 percent on May 14, 2026. Over the past month, the yield has edged up by 0.01 points, though it remains 4.89 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity.
While Nigeria inflation has edged higher to 15.69 percent in the month of April, it is gradually easing down from the 23.01 percent average recorded in 2025. This is according to data gathered by the National Bureau of Statistics (NBS).
The move towards a free-float exchange rate in 2023 when the central bank announced the unification of its foreign exchange window that stoked devaluation of the currency helped the local currency Naira appreciate to N1,348.50.
The National Bureau of Statistics (NBS) released the GDP report for 2025, which indicated that the Nigerian economy expanded by 3.9 percent year on year (YoY) (vs 3.4 percent YoY recorded in 2024). Both the oil and non-oil sectors scaled in the review period, up by 8.5 percent YoY and 3.7 percent YoY, respectively (vs 5.5 percent YoY and 3.3 percent YoY in the prior period).
Major players in the consumer goods industry like Dangote Sugar have heavily expanded, with its CapEx spending surging by 507.76 percent to N36.75 billion as at March 2026.
Network providers such as MTN Nigeria and Airtel Africa collectively invested a combined N907.10 billion in fiber rollouts, data capacity, and network resilience to satisfy surging data demand.
Oil and gas giant Seplat Energy is spending money so as to increase domestic production and magnify oil rigs or wells.
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