NGX Records N11.92 Trillion in Trades as Domestic and Foreign Investments Hit 19-Year High

The Nigerian Exchange (NGX) witnessed a historic surge in stock trading in 2025, with domestic and foreign portfolio investments hitting N11.922 trillion—the highest in 19 years. This figure more than doubles the N5.587 trillion recorded in 2024, highlighting a renewed investor confidence in Nigeria’s capital market and the country’s improving economic outlook.

According to the December 2025 Domestic and Foreign Portfolio Investment (FPI) report, domestic investors dominated the market, contributing N9.275 trillion or 77.79% of total trades. Foreign investors also boosted the market with N2.647 trillion, representing 22.21% of transactions. Institutional investors outperformed retail participants, accounting for nearly 65% of total trades during the year.

Analysts attribute the record-breaking activity to several factors, including improved foreign exchange liquidity, policy clarity, and a relatively stable naira. The Nigerian equities market closed the year with a gain of N36.613 trillion, reaching N99.376 trillion overall, fueled by bargain hunting and strategic corporate actions.

NGX leadership praised the market’s resilience despite global and domestic economic challenges. Umaru Kwairanga, Chairman of NGX Group Plc, highlighted reforms and decisive corporate actions as key drivers of growth. Group Managing Director Temi Popoola emphasized that consistent policy, technological investments, and market structure improvements strengthened investor confidence throughout 2025.

Looking ahead, market watchers remain optimistic about 2026. Research firm Afrinvest projects a potential 40.9% gain in the NGX All-Share Index, supported by continued currency stability, easing monetary policy, and new listings such as Dangote Petrochemicals. Analysts caution, however, that inflationary pressures, foreign exchange volatility, and delayed listings could pose risks to further growth.

source: leadership