✨ NGX Records N4.19 Trillion Equity Trades in H1 2025 — Investor Confidence Soars!
Strong Market Momentum in H1 2025
The Nigerian Exchange Limited (NGX) just posted a blockbuster figure: ₦4.19 trillion in equity turnover in the first half (H1) of 2025!
That’s a massive 61% increase compared to ₦2.60 trillion recorded in H1 2024.
This uptick reflects growing investor confidence, stronger institutional activity, and rising foreign participation, all against the backdrop of ongoing economic reforms and exchange rate adjustments.
Who’s Driving the Market?
Domestic Investors:
• Still the major players
• Accounted for 72.92% of total trades → ₦3.06 trillion
• Dominated every month except March
Foreign Investors:
• Contributed ₦1.14 trillion → 27.08% of total volume
• Showing renewed interest, but outflows still slightly exceed inflows
• Foreign trades jumped 110% from ₦540.48bn in H1 2024
Month-by-Month Breakdown
✅ January – ₦607.05bn
• Domestic: ₦535.54bn (88.22%)
• Foreign: ₦71.51bn (11.78%)
• Foreign Outflows > Inflows
⚠️ February – ₦509.47bn
• Market cooled off by 16%
• Foreign trades fell further to ₦42.65bn
• Outflows continued
March – ₦1.12 trillion ( Highest monthly turnover)
• Foreign investors dominated: ₦699.89bn (62.74%)
• Domestic: ₦415.62bn
• Inflows ≈ Outflows (₦349.97bn vs ₦349.92bn)
April – ₦482.04bn
• Post-March pullback
• Foreign trades dropped to ₦63.07bn
• Outflows > Inflows again
May – ₦700.50bn
• 45.3% rebound from April
• Foreign Inflows finally outpaced outflows (₦66.11bn vs ₦52.80bn)
June – ₦778.65bn
• 11.15% increase from May
• Domestic: ₦639.34bn
• Foreign: ₦139.31bn
• Outflows slightly exceeded inflows again
Foreign Portfolio Investors (FPIs)
Total foreign activity:
• Inflows: ₦559.25bn
• Outflows: ₦576.09bn
Despite more outflows, foreign transactions are up 110% YoY, showing improving confidence in Nigeria’s capital markets.
June 2025 foreign trades:
• ₦139.31bn = approx. $91.07 million (@ ₦1,529.71/$ NAFEM rate)
♂️♀️ Domestic Activity: Institutions Take the Lead
• Retail participation dropped 18.62% in June (₦274.63bn)
• Institutional trades surged by 49.39% to ₦364.71bn
• Indicates growing confidence from pension funds, asset managers, etc.
Long-Term Perspective (18 Years)
Since 2007:
• Domestic trades ↑ 33.15% (₦3.56tn → ₦4.73tn in 2024)
• Foreign trades ↑ 38.31% (₦616bn → ₦852bn in 2024)
In 2024 alone:
• Domestic: 85% of all trades
• Foreign: Just 15% — but 2025 is showing signs of shift
Final Thoughts
✅ Positive signs for H2 2025:
• Institutional investors are taking bigger positions
• Foreign appetite is increasing (despite repatriation concerns)
• Economic reforms and FX stability may further attract inflows
• Retail dip may be temporary as confidence returns
Conclusion:
The ₦4.19 trillion milestone isn’t just a number — it’s a reflection of growing market depth, resilience, and a renewed investor appetite in Nigeria’s capital market.
Strong Market Momentum in H1 2025
The Nigerian Exchange Limited (NGX) just posted a blockbuster figure: ₦4.19 trillion in equity turnover in the first half (H1) of 2025!
That’s a massive 61% increase compared to ₦2.60 trillion recorded in H1 2024.
This uptick reflects growing investor confidence, stronger institutional activity, and rising foreign participation, all against the backdrop of ongoing economic reforms and exchange rate adjustments.
Who’s Driving the Market?
Domestic Investors:
• Still the major players
• Accounted for 72.92% of total trades → ₦3.06 trillion
• Dominated every month except March
Foreign Investors:
• Contributed ₦1.14 trillion → 27.08% of total volume
• Showing renewed interest, but outflows still slightly exceed inflows
• Foreign trades jumped 110% from ₦540.48bn in H1 2024
Month-by-Month Breakdown
✅ January – ₦607.05bn
• Domestic: ₦535.54bn (88.22%)
• Foreign: ₦71.51bn (11.78%)
• Foreign Outflows > Inflows
⚠️ February – ₦509.47bn
• Market cooled off by 16%
• Foreign trades fell further to ₦42.65bn
• Outflows continued
March – ₦1.12 trillion ( Highest monthly turnover)
• Foreign investors dominated: ₦699.89bn (62.74%)
• Domestic: ₦415.62bn
• Inflows ≈ Outflows (₦349.97bn vs ₦349.92bn)
April – ₦482.04bn
• Post-March pullback
• Foreign trades dropped to ₦63.07bn
• Outflows > Inflows again
May – ₦700.50bn
• 45.3% rebound from April
• Foreign Inflows finally outpaced outflows (₦66.11bn vs ₦52.80bn)
June – ₦778.65bn
• 11.15% increase from May
• Domestic: ₦639.34bn
• Foreign: ₦139.31bn
• Outflows slightly exceeded inflows again
Foreign Portfolio Investors (FPIs)
Total foreign activity:
• Inflows: ₦559.25bn
• Outflows: ₦576.09bn
Despite more outflows, foreign transactions are up 110% YoY, showing improving confidence in Nigeria’s capital markets.
June 2025 foreign trades:
• ₦139.31bn = approx. $91.07 million (@ ₦1,529.71/$ NAFEM rate)
♂️♀️ Domestic Activity: Institutions Take the Lead
• Retail participation dropped 18.62% in June (₦274.63bn)
• Institutional trades surged by 49.39% to ₦364.71bn
• Indicates growing confidence from pension funds, asset managers, etc.
Long-Term Perspective (18 Years)
Since 2007:
• Domestic trades ↑ 33.15% (₦3.56tn → ₦4.73tn in 2024)
• Foreign trades ↑ 38.31% (₦616bn → ₦852bn in 2024)
In 2024 alone:
• Domestic: 85% of all trades
• Foreign: Just 15% — but 2025 is showing signs of shift
Final Thoughts
✅ Positive signs for H2 2025:
• Institutional investors are taking bigger positions
• Foreign appetite is increasing (despite repatriation concerns)
• Economic reforms and FX stability may further attract inflows
• Retail dip may be temporary as confidence returns
Conclusion:
The ₦4.19 trillion milestone isn’t just a number — it’s a reflection of growing market depth, resilience, and a renewed investor appetite in Nigeria’s capital market.