NGX Set to Break Turnover Records in 2025 as Foreign Investment and Retail Participation Surge
The Nigerian Exchange (NGX) is on track for a record-breaking year in 2025, with a turnover of ₦694 billion posted in just the first 14 trading days of July, signaling a sharp increase in trading activity. As of July 21, total turnover had hit ₦4.5 trillion, already over 80% of the ₦5.53 trillion recorded in 2024—Nigeria’s highest to date. With five months remaining in the year, analysts expect 2025 to set a new benchmark for market performance and investor engagement.
A major driver of this surge is the return of foreign capital, spurred by recent reforms in Nigeria’s foreign exchange policy and improved clarity from the Central Bank. Between January and May, foreign trades hit ₦996 billion ($638 million)—the highest since 2018. This reflects growing confidence among global investors, particularly with the international exposure of Nigerian firms like GTCO Holdings now listed on the London Stock Exchange.
Meanwhile, local investor participation remains robust. Domestic transactions for the same period stood at ₦2.4 trillion, almost equally split between retail and institutional investors. Retail investors contributed nearly half of this, driven by the Nigerian market’s 391% return since 2019, which has made equities an increasingly attractive tool for wealth creation among ordinary Nigerians.
In addition to large-cap stocks, mid and small-cap equities have shown remarkable growth. Companies like Presco Plc, Transcorp, Vitafoam, and UAC Nigeria have posted returns ranging from 400% to over 2,000% in recent years, with strong earnings, resilient business models, and consistent dividends fueling their rise. This trend is attracting broader interest beyond the traditional banking and manufacturing sectors.
With continued momentum from both foreign and local players, 2025 is shaping up to be a transformational year for Nigeria’s capital market. The NGX’s expanding base of investors, record turnover levels, and increasing global relevance underscore a maturing financial ecosystem poised for long-term growth and stability.
Source: Business day