Amid the bounce of a new administration and raft of changes in government policies, foreign portfolio investments (FPIs) appear to be gradually coming back to the economy as total foreign transactions at the floor of the Nigerian Exchange Limited (NGX) grew to $60.49 million in the month of June 2023.
This is according to the recently released data on domestic and foreign portfolio investment reports in Nigeria’s equity trading for the month of June 2023. It will be recalled that the total foreign transactions in the first four months of 2023, stood at N62.18 billion owing to the soaring inflation, prolonged FX scarcity as well as uncertainties building up to the 2023 elections.
However, the report – prepared on a monthly basis by NGX Regulation Limited, with trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI) flows, revealed that while total domestic transactions on the exchange stood at N1.306 trillion in six months of 2023, total foreign transactions stood at N145.08 billion in the same period.
The report revealed that the total transactions executed between the current and prior month (May 2023) revealed that total domestic transactions increased by 26.34 per cent from N285.76 billion in May to N361.01 billion in June 2023.
