Investors’ Activity on NGX Surges by N9.57trn in 10 Months

Kayode Tokede

Transactions by  foreign and domestic investors on the Nigerian Exchange Limited (NGX) more than doubled in the 10 months of 2025, reaching N9.57 trillion, a 114.01 per cent increase from the N4.47 trillion recorded in the same period of 2024.

According to NGX’s latest Domestic & Foreign Portfolio Participation in Equity Trading, the surge marks a record high for total market activity, buoyed by stronger participation from Pension Fund Administrators (PFAs) and high-net-worth domestic investors.

The report disclosed that Foreign portfolio investors (FPIs) accounted for N2.03 trillion of total trades, a 172.4 per cent year-on-year rise from N744 billion a year earlier.

In contrast, domestic investors contributed N7.54 trillion, up 102.4 per cent from N3.73 trillion in 2024.

According to the report by NGX, the foreign investors represented 21.18 per cent of total market activity during the period, up from 16.65 per cent a year earlier. Domestic investors, while still dominant, saw their share ease slightly to 78.82 per cent from 83.35 per cent.

Within the domestic segment, institutional investors led activity with N4.6 trillion, compared withN1.8trillion in 10 months of 2024, while domestic retail  transacted about N2.9trillion in 10 months of 2025 from N1.9trillion in 10 months of 2024.

In terms of inflow, the report disclosed that foreign inflow stood at N1.12 trillion in 10 months of 2025 from N344 billion in 10 months of 2024, while outflow stood at N909.54billion in 10 months of 2025 from N400.04billion in 10 months of 2024.

The report further stated that, “Over an 18 year period, domestic transactions increased by 33.15per cent from N3.556 trillion in 2007 to N4.735 trillion in 2024; whilst foreign transactions also increased by 38.31% from N616 billion to N852 billion over the same period.

“Total domestic transactions accounted for about 85per cent of the total transactions carried out in 2024, whilst foreign transactions accounted for about 15per cent of the total transactions in the same period. The transaction data for 2025 shows that total domestic transactions are circa N7.5433 trillion, whilst total foreign transactions are circa N2.0273 trillion.”

The Vice Chairman of Highcap Securities Limited, Mr David Adonri , described the retail uptick as a positive signal for market stability. “The growth in retail activity at a time when institutional and foreign investors are slowing down shows that local investors are becoming more confident and more informed. It reflects the impact of technology, easier access, and sustained market education. Retail investors are gradually becoming a stabilizing force in our market,” he said.