Nigeria’s Stock Market: Implication Of 92.39% Sharp Drop In Foreign Investment

Foreign money flowing into Nigeria’s stock market is like fuel for growth—but in April, that fuel gauge plunged. The Nigerian Exchange witnessed a staggering 92.39% tumble in foreign portfolio inflows, dropping from a high of N349.97 billion in March to just N26.64 billion. It was a massive slowdown that showed how foreign investors are pulling back, with their share of market activity shrinking sharply.

In March, foreign transactions made up over 60% of all trades, but by April, that number sank to just 13.08%. The absence of large ‘block trades’ that previously boosted activity, along with global uncertainties like new U.S. tariffs disrupting trade, played a big role.

As foreign investors retreated, local investors stepped up, dominating the market and accounting for nearly 87% of trade in April. This shows strong domestic support, but the year-to-date foreign investment balance still remains negative, with a net outflow of N36.48 billion. It signals continued caution among international players, and while the local market stays resilient, Nigeria is still navigating a very uncertain global economic landscape.