Foreigners move N267.5bn from Nigeria stock market in 5 months

By Joy Baba-Yesufu

In five months to May 2024, foreign portfolio investors (FPI) in Nigeria’s equities took away N267.47billion from the market as against N190.82billion they inflowed.
The outflow in five months to May represents a significant increased when compared to same period in year 2023 when these FPIs who brought in N49.30 billion into stock market outflowed N 50.04billion.
In January 2024, foreign inflow was N15.78 billion while foreign outflow was N37.33billion. In February 2024, foreign inflow was N24.93billion while foreign outflow was N40.88billion. In March 2024, foreign inflow into stock market was N52.66billion while foreign outflow was N41.60billion in March.
Further look at the monthly foreign outflow shows it peaked in April 2024 when foreign portfolio investors outflowed N78.25billion as against N42.58 billion foreign inflow.
Over a sixteen (16) year period, domestic transactions decreased by 10.94 percent from N3.556 trillion in 2007 to N3.167trillion in 2023; while foreign transactions also decreased by 33.28percent from N616 billion to N411 billion over the same period.
Total domestic transactions accounted for about 89percent of the total transactions carried out in 2023, while foreign transactions accounted for about 11percent of the total transactions in the same period.
In the review five months, stocks traded on the Exchange worth N2.249trillion. Foreign investors accounted for N458.29 billion or 20.37percent, while domestic investors accounted for N1.791trillion or 79.63percent.
Domestic retail investors traded stocks worth N 885.19billion in the review period while domestic institutional investors accounted for deals worth N906.07billion.