Total transactions on the Nigerian Exchange Limited rose by 3.35 per cent month-on-month to N1.803 trillion in April 2026, up from N1.744 trillion recorded in March 2026.
The figures were contained in the latest Domestic and Foreign Portfolio Investment Report released by NGX Regulation Limited, covering equities transactions as of April 30, 2026.
The report also showed a strong year-on-year increase in market activity, with total transactions surging by 274.05 per cent compared to N482 billion recorded in April 2025. The performance reflects stronger investor participation and sustained confidence in Nigerian equities.
According to the report, the April performance pushed the year-to-date transaction value for 2026 to N5.952 trillion, more than double the N2.714 trillion recorded during the corresponding period of 2025.
Domestic investors remained the dominant force in the market, accounting for the bulk of trading activity on the exchange despite higher foreign participation compared to levels seen a year earlier.
Institutional investors continued to drive activity in the equities market, although foreign investor participation moderated after the elevated levels recorded in March.
Domestic transactions rose to N1.555 trillion in April, representing 86.26 per cent of total market activity, compared to N1.456 trillion or 83.44 per cent recorded in March.
Foreign transactions, however, declined to N247.78 billion in April from N288.82 billion in March, accounting for 13.74 per cent of total market activity.
The report showed that foreign inflows stood at N90.84 billion, while foreign outflows reached N156.94 billion, indicating that foreign investors remained net sellers of Nigerian equities for the second consecutive month.
Domestic retail transactions recorded a significant increase, rising to N683.74 billion in April from N541.37 billion in March.
Meanwhile, institutional transactions eased slightly to N871.38 billion from N914.23 billion, although institutional investors still accounted for the largest share of domestic market participation.
A closer look at the figures revealed a notable resurgence in retail investor participation after months of institutional dominance in the Nigerian equities market.
Domestic retail transactions surged by 26.3 per cent month-on-month in April, marking the strongest retail performance since the beginning of 2026.
Despite the growth in retail activity, domestic institutional investors remained the largest contributors to market turnover, with year-to-date institutional transactions standing at N3.028 trillion compared to N2.133 trillion recorded by retail investors.
Foreign investors posted a net outflow of about N66.1 billion in April, as total outflows exceeded inflows during the month.
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 approximately N164.85 billion.
The data suggests that although foreign investor appetite softened from March’s peak levels, the Nigerian equities market continues to benefit from strong domestic institutional and retail participation, which has supported transaction growth throughout 2026.
The April performance also extends the strong momentum recorded on the NGX since the second half of 2025, driven by monetary and fiscal reforms, improving foreign exchange liquidity, strong corporate earnings, and rising retail participation through digital trading platforms.
Earlier figures showed that total market transactions in the first quarter of 2026 rose to N4.148 trillion, representing an 85.87 per cent increase from N2.232 trillion recorded during the same period in 2025.
Foreign inflows during the first quarter of 2026 also surged by 78 per cent to N393.68 billion from N221.62 billion recorded in the corresponding period of 2025.
Foreign outflows increased by 31.2 per cent year-to-date to N420.37 billion, indicating that international investors continued to exit the market despite stronger inflows.
The NGX had earlier recorded total transactions exceeding N10.54 trillion within the first 11 months of 2025, representing a 114.6 per cent increase from N4.91 trillion recorded during 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 lingering concerns among offshore investors over capital flows and market conditions.
