Domestic and Foreign Investors Push Nigeria’s Equity Market Trades to N11.92tn in 2025

Nigeria’s equity market closed 2025 on a historic note, with total transactions soaring to N11.92 trillion, driven by strong participation from both domestic and foreign investors. Data released by the Nigerian Exchange Limited (NGX) shows that market activity more than doubled from N5.59 trillion in 2024, reflecting renewed confidence in Nigeria’s capital market amid improving sentiment.

According to the Domestic & Foreign Portfolio Participation in Equity Trading Summary as of December 31, 2025, the market recorded a 113.39 percent year-on-year growth. Domestic investors continued to dominate trading activities, accounting for 77.79 percent of total transactions valued at N9.27 trillion, while foreign investors contributed N2.65 trillion, or 22.21 percent, marking a noticeable recovery in offshore participation after years of subdued inflows.

Market momentum strengthened significantly toward the end of the year. Total equity transactions rose by 42.13 percent month-on-month from N971.18 billion in November to N1.38 trillion in December 2025. Compared with December 2024, when trades stood at N673.67 billion, activity expanded by over 104 percent, underlining the strength of the 2025 market rally.

The December surge was largely fueled by foreign investors, whose transactions jumped by 182.70 percent to N458.09 billion, driven mainly by large block trades. Still, domestic investors remained firmly in control, posting N922.31 billion in trades and outperforming foreign participants by roughly 34 percent. Institutional investors led local participation, maintaining a clear edge over retail investors and highlighting the growing influence of large capital pools in the market.

Historical data points to a deeper structural shift in Nigeria’s equity market. Over the past 19 years, domestic transactions have grown by 160.82 percent, while foreign trades expanded by nearly 330 percent. Despite faster foreign growth, domestic investors have consistently retained market leadership. Analysts say the blend of strong local confidence and renewed foreign interest has pushed market activity to its highest level in almost two decades, though the long-term sustainability of foreign inflows remains a key issue to watch.

source: punch