By Investment on the Nigerian Exchange (NGX) soared to N2.232 trillion between January and March 2025, driven by stronger participation from both local and foreign investors. This marks a significant rise from the N1.548 trillion recorded during the same period in 2024, according to the NGX Domestic & Foreign Portfolio Investment Report for March 2025.
During the first quarter of 2025, domestic investors accounted for a majority of transactions, contributing N1.418 trillion or 63.53% of the total. Meanwhile, foreign investors transacted N814.05 billion, which represents 36.47% of Q1’s total. The figures suggest a steady return of foreign capital into Nigerian markets.
March 2025 alone saw a remarkable jump in total transactions, rising by 118.95% to N1.116 trillion, up from N509.47 billion in February. Notably, foreign investors led the charge in March, executing transactions that surpassed those of domestic investors by around 26%.
However, a deeper breakdown shows a 10.98% dip in domestic transactions in March, down from N466.82 billion in February to N415.62 billion. In contrast, foreign transactions skyrocketed by over 1,541%, jumping from N42.65 billion to N699.89 billion within the same period.
Retail investors slightly reduced their activity, falling by 8.11% in March, while institutional investors maintained dominance despite a 13.40% decrease in volume. The data shows that institutions still outpaced retail investors by six per cent.
Experts say this growing interest is tied to economic reforms and currency devaluation. “The equities market has become very attractive, mostly due to the devaluation of the currency, which makes the shares very cheap, especially to foreign investors,” said Dr. Femi Ademola, MD of AIICO Capital. Similarly, Olatunde Amolegbe of Arthur Steven Asset Management noted that bank recapitalisation, oil sector reforms, and new listings have strengthened investor appetite.
