Nigerian investors account for 89.74% of stock-market trading
By the AFREEQUE newsroom, based on Leadership
Nigerian investors carried out 13.52 trillion naira of the 15.06 trillion naira traded on the Nigerian Exchange between January and September 2026, representing 89.74% of transactions. The foreign share fell to 10.26%, with capital outflows rising and inflows declining, according to the portfolio investment report published by the Nigerian Exchange.
Nigerian investors accounted for 89.74% of trading on the Nigerian Exchange (NGX), Nigeria’s stock exchange, during the first nine months of 2026, with transactions worth 13.516 trillion naira out of a total of 15.062 trillion. The figures are contained in the NGX’s domestic and foreign portfolio investment report, covering the period up to 30 September 2026.
Total transaction volume rose by 76.4% compared with the 8.538 trillion naira recorded during the same period in 2025. Domestic transactions more than doubled, rising from 6.697 trillion to 13.516 trillion naira, while those by foreign investors fell from 1.841 trillion to 1.546 trillion. The foreign share therefore fell from 21.56% to 10.26%.
Foreign capital outflows increased by 12.7% to 913.61 billion naira, while inflows fell by 38.6% to 632.35 billion. In September, however, foreign trading rebounded by 208.14% month on month, to 191.14 billion naira. Outflows, at 98.62 billion, exceeded inflows, at 92.52 billion, leaving a negative balance of 6.1 billion. Domestic transactions reached 1.625 trillion naira, up 34.58% for the month.
Despite the decline in foreign participation, the NGX All-Share Index rose by 61.43% between January and the end of September, to 251,211.67 points. Market capitalisation increased by 64.13%, from 99.376 trillion to 163.105 trillion naira. This increase forms part of total stock-market transactions worth 15.062 trillion naira in nine months, reported on 25 October.
