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Foreign investors withdrew N455.62bn from the Nigerian stock market in 2024, exceeding total inflows and reinforcing concerns about investor confidence.
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The outflows were attributed to the volatility of the naira and inflation, which created uncertainties for foreign investors.
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Despite the challenges, domestic investors dominated the market, accounting for 84.75% of total transactions, with institutional investors leading the way.
Foreign investors withdrew N455.62bn from the Nigerian stock market in 2024, exceeding total inflows and reinforcing concerns about investor confidence.
According to data from the Nigerian Exchange Limited’s Domestic and Foreign Portfolio Investment Report, foreign transactions for the year amounted to N852.03bn, with outflows accounting for 53.47% and inflows standing at N396.41bn.
Industry experts attributed the outflows to the volatility of the naira and inflation, which created uncertainties for foreign investors.
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Charles Sanni, Chief Executive Officer of Cowry Treasurers Limited, explained, “Inflation created a blurry future for them.
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The expectation was that Nigeria would make money, but because of the volatility of the naira, it wasn’t stable, so they had to decide whether to continue investing.”
Despite the challenges, domestic investors dominated the market, accounting for 84.75% of total transactions, with institutional investors leading the way.
The Nigerian stock market recorded total transactions of N5.587tn for 2024, representing a 56.2% increase from N3.578tn in 2023.
Avoid Panic Buying, We Have 1.7bn Litres Of Petrol In Stock –Nnpc Tells Nigerians
The Nigerian National Petroleum Company (NNPC) Limited has advised Nigerians to avoid panic buying as there is enough petrol in stock.
Following the meeting held on Wednesday, March 2, in Abuja with the National Union of Petroleum, Natural Gas Workers (NUPENG), Petrol Tanker Drivers (PTD), Depot, Petroleum Marketers Association of Nigeria (DAPMAN), and Major Oil Marketers Association of Nigeria (MOMAN), the NNPC Group Managing Director, Mele Kyari while addressing journalists said that there is 1.7bn litres of petrol in stock and the country has the capacity to load out trucks excessively from all depots to fill the supply gap facilitated by panic buying.
