NGX Feb Boom: Transactions Hit N1.54T
Foreign portfolio investment flowing into Nigeria’s stock market surged by 39.4% in February 2026, rising to N66.71 billion from N47.86 billion recorded in the same period of 2025, according to data released by the Nigerian Exchange Limited.
The NGX report, released on Wednesday, shows a broad uptick in market activity, with total transactions at the bourse climbing sharply by 78.93% to N1.54 trillion, equivalent to approximately $1.13 billion, in February 2026, compared to N862 billion, about $621.67 million, in January 2026.
Foreign investment outflow also rose during the period, increasing by 9.1% to N72.32 billion in February from N66.28 billion in January, indicating active two-way capital movement in the market.
The year-to-date figures painted a more striking picture. Foreign investment inflow for the period ending February 2026 grew by 162.1% to N114.57 billion, compared to N43.71 billion recorded in the corresponding period of 2025. Total transactions on a year-to-date basis also expanded by 115.4% to N2.404 trillion, up from N1.116 trillion in the same period last year.
Domestic investors continued to dominate market activity, outperforming foreign investors by approximately 82%. Within the domestic segment, institutional investors outpaced retail investors by 22%. Retail transactions rose by 52.42% from N359.86 billion in January 2026 to N548.50 billion in February, while institutional transactions recorded a steeper climb of 120.33%, from N387.97 billion to N854.83 billion within the same period.
Investment banker and chartered stockbroker Tajudeen Olayinka linked the trend to broader macroeconomic stabilisation. “I think it tells the story behind the growing stability in the foreign exchange market. A situation of continued accretion to foreign reserves and declining inflation and interest rate,” he said.
Olayinka credited the economic reforms initiated under President Bola Tinubu’s administration. “It gives credence to the forward thinking and inevitable Adjustment Program embarked upon by the administration of President Bola Ahmed Tinubu in 2023, which though, came with pain, but a necessary pill that must be swallowed to address some of the nagging issues around macroeconomic imbalances,” he stated.
He, however, cautioned that the gains remain vulnerable. “The rising foreign portfolio inflows means well for the Nigerian economy and markets in the immediate to near term, but other outstanding structural issues must also be addressed by the government as quickly as possible, to deal with a possible reversal of capital flow that could arise from external shocks,” Olayinka warned.