Foreign portfolio investment (FPI) in Nigeria surged to N1.81 trillion in July 2025, up 133.09% from N778.65 billion in June, reflecting stronger participation in equities trading.
The data, published in the latest FPI report by the Nigerian Exchange (NGX) and compiled from custodians and capital market operators, also showed a 269.19% year-on-year increase compared to N491.61 billion recorded in July 2024.
Cumulatively, FPI between January and July 2025 stood at N6 trillion, almost twice the figure reported for the same period in 2024.
While both domestic and foreign transactions increased during the month, domestic investors still accounted for a larger share of overall market activity.
Domestic vs Foreign:
According to the report, domestic transactions in July 2025 rose sharply to N1.66 trillion, a 161.07% increase from N639.34 billion in June.
Foreign transactions for the month stood at N145.95 billion, up 4.76% from N139.31 billion in June 2025.
Within domestic activity, institutional investors accounted for the bulk of trades, outperforming retail investors by 38%.
- Retail transactions grew by 88.07%, rising from N274.63 billion in June to N516.50 billion in July, while institutional activity surged by 216.03%, from N364.71 billion to N1.15 trillion over the same period.
On the foreign side, inflows of N50.4 billion were outpaced by outflows of N95.4 billion, reflecting a net withdrawal of funds.
- Looking at the broader picture, foreign inflows between January and July 2025 tripled to N609.73 billion compared with N266.64 billion in the same period last year.
- Outflows also increased, reaching N671.56 billion against N331.36 billion a year earlier.
Foreign flows year-to-date:
According to the report, total foreign portfolio investment for the seven months ended July 2025 stood at N1.28 trillion, showing strong growth when compared with N598 billion recorded in the same period of 2024.
A further breakdown indicates that the figure not only exceeded last year’s performance but also surpassed historical levels, with N185.62 billion reported in 2023, and turnovers of N301.37 billion and N262.85 billion in 2022 and 2021 respectively.
When combined with a year-to-date value of N4.7 trillion from domestic activities, total transactions for the first seven months of 2025 amounted to N6 trillion.
- This highlights the broader level of activity in the market and offers some perspective on foreign investor sentiment and participation.
The growing interest has likely been supported by a combination of factors, including the performance of the All-Share Index, which returned 37.7% in 2024 and has gained more than 37% so far in 2025.
In addition, a relatively stable foreign exchange environment and a more predictable inflation outlook have likely provided further confidence for investors.
