Foreigners Are Just 5.6% of Nigeria’s Record Stock Rally
The Nigerian index is up more than 53% this year and foreign money accounted for 5.6% of July trading, the lowest share of 2026. Locals are carrying the whole thing. The post Foreigners Are Just 5.6% of Nigeria’s Record Stock Rally appeared first on The Rio Times .
In July 2026, foreign investors accounted for just 5.6% of transactions on the Nigerian Exchange, marking the lowest monthly share for the year, according to the exchange's portfolio investment report. Domestic investors made up the remaining 94.4% of trades. Nigeria's stock market has experienced a 53.81% increase since the start of the year, with the All-Share Index closing at 239,351.16 points on August 21.
However, the rally has not been uniform, with the index experiencing nine consecutive losing sessions, trimming about N2.1 trillion over the week and N5.9 trillion from the record close of N160.42 trillion on August 10. The surge in domestic investments is primarily institutional, with a 66.18% increase in institutional trades to N1.65263 trillion in July, compared to a 9.42% rise in retail trades to N0.58244 trillion.
Foreign flows were roughly flat at N1.293 trillion, but there was a net outflow of N266.07 billion, as opposed to N61.83 billion in the same period of 2025. The All-Share Index's performance has been influenced by the ease of moving funds into the Nigerian market through faster settlement, which went into effect for individuals, corporates, and non-bank institutions on June 1, 2026.
The reclassification of Nigeria from unclassified to Frontier status by FTSE Russell, effective September 21, 2023, has also been put under review.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
