Foreign Portfolio Investment (FPI) on the Nigerian Exchange (NGX) surged sharply in the first half of 2025, highlighting renewed global investor confidence in Africa’s largest economy.
According to the latest NGX domestic and foreign portfolio investment report, FPI inflows reached ₦1.14 trillion in H1 2025, more than double the ₦540.48 billion recorded in the same period of 2024 representing a growth of about 110% year-on-year.
In July alone, FPI transactions rose to ₦145.95 billion, up 4.8% from ₦139.31 billion in June. Analysts note that this marks a steady inflow of foreign capital despite persistent macroeconomic challenges.
Meanwhile, the total value of transactions on the NGX combining both domestic and foreign investors climbed to ₦6.01 trillion year-to-date (YTD) through July 2025, almost doubling the ₦3.10 trillion posted in the same period last year. Domestic investors continue to dominate the market, accounting for a larger share of overall activity.
Market watchers attribute the FPI rebound to policy reforms, rising yields in naira assets, and improving corporate earnings, which have boosted Nigeria’s investment appeal. However, they caution that foreign appetite remains sensitive to currency risks and global economic headwinds.
With portfolio inflows gaining momentum, analysts suggest the NGX could maintain its positive trajectory in the second half of the year, provided macroeconomic stability holds.