Strong Participation In Stock Trading Pushes Nigeria’s FPI To N1.81trn In July 2025

Foreign Portfolio Investment (FPI) in Nigeria surged to N1.81 trillion in July 2025, reflecting a dynamic shift in market activity and investor sentiment.

This represents a 133.09 per cent increase from N778.65 billion recorded in June 2025.

Year-on-year, FPI jumped by 269.19 per cent compared to N491.61 billion in July 2024.

The latest FPI report published by the Nigerian Exchange (NGX) and compiled from custodians and capital market operators showed that while both domestic and foreign transactions increased during the month, domestic investors still accounted for a larger share of overall market activity.

Total FPI for the first seven months of 2025 reached N6 trillion, nearly double the figure for the same period in 2024.

Domestic investors dominated market activity, accounting for N1.66 trillion (91.96 per cent) of total transactions in July 2025, a 161.07 per cent increase from June 2025.

Institutional investors led domestic activity, surging by 216.03% to N1.15 trillion, while retail transactions grew by 88.07 per cent to N516.50 billion.

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Commenting on the sharp rise in July, analysts at Comercio Partners said it reflects strong domestic liquidity rather than a significant foreign capital resurgence.

The analysts noted that it was majorly driven by institutional investors, adding that it shows “local funds are increasingly the backbone of market activity.”

“This shift makes the market less dependent on volatile offshore flows, but it also underscores lingering foreign caution, with outflows still outweighing inflows.”

They warned that “the pace of growth raises sustainability questions as stretched valuations and competing returns in fixed income could quickly test the strength of this rally.

“For now, Nigerian equities are being propped up by local conviction, but the absence of deeper foreign participation means the momentum rests on domestic balance sheet strength, not global confidence.”