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Nigeria’s Foreign Portfolio Investment Surges in September



capital market
  • Nigeria’s Foreign Portfolio Investment Surges in September

The total value of transactions performed by foreign investors in the Nigerian Stock Exchange (NSE) rose by 47.81 percent in the month of September, according to the NSE’s Domestic & Foreign Portfolio Investment report released on Monday.

The total foreign transactions carried out during the month rose from N63.90 billion or $208.4 million recorded in August to N94.45 billion or $308.2 million in September.

Domestic transactions decreased by 19.91 percent from N58.69 billion in August to N47 billion in September. A 34 percent decline when compared with foreign transactions.

However, the total transactions performed on the bourse rose by 15.95 percent from N121.99 billion or $398.0 million in August to N141.45 billion or $461.50 million in September 2019 and it was 8.64 percent higher than the same month of 2018.

Breaking down the report, the value of domestic transactions executed by institutional and retail investors was even at 50 percent each and decreased by 2.34 percent to N23.36 billion when compared with N23.92 billion filed in August.

In the last twelve years, domestic transactions dropped 66.68 percent from N3.556 trillion in 2007 to N1.185 trillion in 2018, while foreign transactions surged by 97.88 percent during the same period to N1.219 trillion, up from N616 million.

According to the report, foreign outflow dropped from N29.40 billion in August to N28.98 billion in September, while foreign inflow grew from N28.38 billion to N34.92 billion. Again, foreign inflow rose to N47.73 billion in September.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.