The Nigerian capital market recorded a landmark performance in June 2025, as total equity transactions soared to ₦778.65 billion, marking a 120 percent increase compared to ₦354.55 billion in June 2024. This is one of the most significant year-on-year growth rates in recent market history, underscoring renewed investor confidence and improving economic fundamentals.

According to data released by the Nigerian Exchange (NGX), the sharp uptick was driven by a surge in domestic institutional activity and sustained foreign portfolio interest, both of which reflect growing confidence in Nigeria’s economic trajectory.

Domestic Investors Take the Lead

Domestic investors accounted for 64 percent of the total transaction value, rising from ₦581.59 billion in May 2025 to ₦639.34 billion in June, representing a 9.93 percent increase.

Within this segment:

Institutional investors rose by 49.39 percent to ₦364.71 billion

Retail investors declined by 18.62 percent to ₦274.63 billion, suggesting a shift from retail-led trading to institutional-driven participation

Foreign Participation Increases

Foreign transactions also gained momentum, rising by 17.16 percent from ₦118.91 billion in May to ₦139.31 billion in June. Notably, foreign inflows exceeded outflows, reinforcing Nigeria’s appeal to international investors despite global market uncertainties.

Year-to-Date Market Overview

As of June 30, total equity transactions for the first half of 2025 stood at ₦4.19 trillion, compared to ₦2.60 trillion during the same period in 2024. This represents a robust 61 percent growth.

Analyst Commentary

Market analysts attribute the impressive performance to increased macroeconomic stability, improving liquidity conditions, and ongoing reforms that have enhanced investor confidence.

“The strong rebound in June is not just a temporary bounce. It’s a sign that both domestic and global investors are betting on the Nigerian story,” said a market strategist at Vetiva Capital.

Looking Ahead

With institutional investors driving activity and foreign inflows increasing, the Nigerian stock market is well positioned for continued growth in the second half of the year, provided the current economic momentum is sustained.