According to the Domestic and Foreign Portfolio Transactions Report released on Thursday, foreign outflows surged by 43.6%, rising from ₦66.49 billion in June to ₦95.47 billion in July 2025.
Market Activity Surges 133% in One Month
Despite weaker foreign participation, total market activity rose significantly. The NGX report revealed that total transactions at the nation’s bourse increased by 133.09%, from ₦778.65 billion (about $509.02m) in June to ₦1.815 trillion ($1.835bn) in July 2025.
On a year-on-year basis, activity skyrocketed by 269.19%, compared to ₦491.61 billion recorded in July 2024.
The exchange noted that the surge in July’s transaction volume was largely driven by block trades, which boosted the value of domestic transactions far above foreign transactions by about 84%.
Foreign vs Domestic Participation
Further analysis shows that total foreign transactions rose slightly by 4.76%, from ₦139.31 billion ($91.07m) in Juneto ₦145.95 billion ($95.17m) in July.
Domestic investors, however, dominated activity. Institutional investors significantly outperformed retail investors by 38%. Retail participation grew by 88.07%, from ₦274.63 billion in June to ₦516.50 billion in July, while institutional transactions soared by 216.03%, climbing from ₦364.71 billion to ₦1.152 trillion over the same period.
18-Year Market Trend
Looking at a broader perspective, NGX data covering an 18-year period (2007–2024) shows steady growth in both domestic and foreign participation. Domestic transactions rose by 33.15%, from ₦3.556 trillion in 2007 to ₦4.735 trillion in 2024, while foreign transactions grew by 38.31%, from ₦616 billion to ₦852 billion in the same period.
In 2024, domestic activity accounted for about 85% of total transactions, while foreign investors contributed just 15%.
For 2025 so far, domestic transactions have reached ₦4.726 trillion, while foreign transactions stand at ₦1.281 trillion, further confirming the dominance of local investors in Nigeria’s stock market.
