Total transactions on the Nigerian Exchange Limited (NGX) rose by 3.35% month-on-month to N1.803 trillion in April 2026, up from N1.744 trillion recorded in March 2026.
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The figures are contained in the latest Domestic & Foreign Portfolio Investment Report released by NGX Regulation Limited, covering equities transactions as of April 30, 2026.
The latest data also showed a sharp increase in market activity on a year-on-year basis, with total transactions surging by 274.05% compared to N482 billion recorded in April 2025, highlighting stronger investor participation and sustained confidence in Nigerian equities.
The April performance pushed the 2026 year-to-date transaction value to N5.952 trillion, more than double the N2.714 trillion recorded during the corresponding period of 2025.
What the data is saying:
Domestic investors continued to dominate trading activity on the NGX in April 2026, even as foreign participation remained significantly higher than levels recorded a year earlier.
The report showed that institutional investors remained the primary drivers of activity, while foreign investors moderated participation after the elevated levels seen in March.
- Total transactions increased by 3.35% month-on-month to N1.803 trillion in April 2026 from N1.744 trillion in March.
- Domestic transactions rose to N1.555 trillion, accounting for 86.26% of total market activity in April, compared to N1.456 trillion or 83.44% recorded in March.
- Foreign transactions declined to N247.78 billion in April from N288.82 billion in March, representing 13.74% of total market activity.
- Foreign inflows stood at N90.84 billion, while foreign outflows came in at N156.94 billion, indicating that foreign investors remained net sellers of Nigerian equities for the second consecutive month.
Domestic retail transactions climbed significantly to N683.74 billion in April from N541.37 billion in March, while institutional transactions eased slightly to N871.38 billion from N914.23 billion, though institutions continued to dominate overall domestic participation.
More insights:
A closer look at the April figures revealed a notable resurgence in retail investor participation after months of institutional dominance in the Nigerian equities market. The increase suggests broader participation by individual investors amid strong market performance and easier access to trading platforms.
- Domestic retail transactions surged by 26.3% month-on-month to N683.74 billion in April, marking the strongest retail performance since the start of 2026.
- Domestic institutional investors remained the largest contributors to market activity, with year-to-date institutional transactions standing at N3.028 trillion compared to N2.133 trillion recorded by retail investors.
- Foreign investors recorded a net outflow of approximately N66.1 billion in April, as outflows of N156.94 billion exceeded inflows of N90.84 billion.
- On a year-to-date basis, foreign inflows stood at N312.46 billion, while outflows reached N477.31 billion, resulting in a cumulative net foreign outflow of about N164.85 billion.
The data suggests that while foreign investor appetite has softened from March’s peak levels, the Nigerian market continues to be supported by strong domestic institutional and retail participation, which has underpinned overall transaction growth in 2026.
What you should know:
The April 2026 performance extends the strong momentum recorded on the NGX since the second half of 2025, supported by monetary and fiscal reforms, improving foreign exchange liquidity, strong corporate earnings, and rising retail investor participation through digital trading platforms.
- Total market transactions in Q1 2026 had earlier risen to N4.148 trillion, representing an 85.87% increase from N2.232 trillion recorded during the same period in 2025.
- Foreign inflows in the first quarter of 2026 surged by 78% to N393.68 billion from N221.62 billion recorded in the corresponding period of 2025.
- Foreign outflows also increased by 31.2% year-to-date to N420.37 billion, showing that despite stronger inflows, international investors continued to exit the market at a significant pace.
- Total transactions on the NGX crossed N10.54 trillion within the first 11 months of 2025, representing an 114.6% increase from N4.91 trillion recorded in the same period of 2024.
The continued rise in domestic participation, alongside improving foreign investor activity, reflects the growing depth of Nigeria’s equities market despite persistent caution among offshore investors regarding capital flows and market conditions.
