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Wednesday, March 29, 2023

Foreigners Miss Out on Nigeria Stock Rally as Transactions Hit 4-Year Low

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Foreign investors have largely missed out of Nigeria’s biggest stock market rally since 2017 as transactions hit a four year low.

The Nigerian Stock Exchange (NSE) is on pace to record the lowest foreign inflows since 2016, even as it has risen by 47 percent this year, according to data compiled by MoneyCentral.

Total foreign transactions carried out year till date (YTD) is about N659.28 billion, whilst total domestic transactions YTD is nearly double that at about N1239.62 billion.

Foreign Investors bought just N226 billion worth of Nigerian Stocks between January and November 2020, down N171 billion from N397.44 billion in the same period of 2019 (see table).

Foreign outflows for the 2020 period was equivalent to N433.1 billion, down 10 percent from the 2019 levels.

Overseas investors have sold Nigerian stocks for ten out of eleven months this year, according to NSE data.

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