Nigerian equity market sees record transactions as investors return
Nigeria’s stock market reached new heights as both domestic and foreign investors drove total equity transactions to N11.92tn. Domestic investors continued to dominate, but a notable resurgence in foreign participation contributed to the market’s historic performance. The year saw significant growth in both institutional and retail investments, with foreign inflows spiking toward the end of the year. The market’s strong momentum highlights renewed confidence, though questions remain about the long-term sustainability of foreign interest.
TLDR
- Total transactions surged to N11.92tn in 2025, more than doubling from N5.59tn in 2024, according to the Domestic & Foreign Portfolio Participation in Equity Trading Summary of Transactions as of 31 December 2025.
- Domestic investors accounted for 77.79% of total trades (N9.27tn), while foreign investors contributed 22.21% (N2.65tn).
- Market activity increased by 42.13% from N971.18bn in November 2025 to N1.38tn in December 2025, with foreign transactions jumping by 182.70% month-on-month.
- Institutional investors led domestic activity, with trades rising from N531.21bn to N603.62bn, outpacing retail investors.
- Over the past 19 years, domestic transactions grew by 160.82% and foreign transactions by 329.87%, but domestic investors have consistently remained the market leaders.
