Nigeria sees record market turnover
Trading volume on the Nigerian Exchange has reached N9.57 trillion through October, more than double the N4.47 trillion recorded during the same period of the previous year. Foreign portfolio investors have increased their market share to 21.2 percent of total activity, with inflows climbing to N1.118 trillion compared with N344 billion recorded earlier, while outflows rose to N909.6 billion. The country registered a foreign investment surplus of N209 billion after experiencing a deficit previously.
Domestic investors contributed N7.54 trillion in transactions, driven by institutional participation that reached N4.6 trillion and retail activity totaling N2.9 trillion. Exchange Group Managing Director Temi Popoola attributed the growth to coordinated economic reforms, including currency liberalization and fuel subsidy removal, that have strengthened investor confidence. Securities and Exchange Commission Director General Emomotimi Agama cited the Investments and Securities Act signed by President Bola Tinubu as critical for improving regulatory transparency and market governance.
