Domestic Investors Propel NGX Turnover to N1.5 Trillion in February 2026
The Nigerian Exchange Limited (NGX) experienced a significant surge in investor activity during February 2026, with total market transactions climbing by 78.93% month-on-month to reach N1.5 trillion. This marks a substantial increase from the N0.862 trillion recorded in January 2026, reflecting heightened market participation and robust trading volumes.
Year-on-Year Growth and Market Dominance
On a year-on-year basis, market turnover also showed strong performance, rising by 38.15% from N1.1 trillion in February 2025. A detailed analysis of the February 2026 data reveals that domestic investors continued to be the primary drivers of market activity, accounting for approximately 91% of total transactions. In contrast, foreign investors represented only about 9% of the market share.
Specifically, domestic transactions amounted to N1.4 trillion, which is significantly higher than foreign transactions of N0.13903 trillion. This disparity underscores the dominant role of local investors in the Nigerian stock market during this period.
Monthly and Long-Term Trends
On a month-on-month basis, domestic transactions improved dramatically by 87.65%, increasing from N0.74783 trillion in January 2026 to N1.4 trillion in February 2026. This surge is attributed to renewed local participation and increased institutional activity, signaling growing confidence among domestic investors.
Foreign transactions, however, rose at a slower pace of 21.81%, moving from N0.11414 trillion to N0.13903 trillion over the same period. Despite this slower growth, foreign investment still contributed to the overall market uptick.
Over a longer 19-year span from 2007 to 2025, domestic transactions expanded by 160.83%, from N3.556 trillion to N9.2 trillion. Foreign transactions recorded an even stronger percentage growth of 329.87%, from N0.616 trillion to N2.6 trillion. Nevertheless, domestic investors maintained their dominance, accounting for about 78% of total transactions in 2025, compared to 22% for foreign investors.
Preliminary 2026 Data and Outlook
Preliminary data for 2026 indicates that total domestic transactions stand at approximately N2.1512 trillion, while foreign transactions are estimated at N0.2532 trillion. This suggests continued strong domestic participation at the beginning of the year, reinforcing the trend of local investors leading market activity.
The sustained dominance of domestic investors highlights their crucial role in shaping the Nigerian stock market's performance, with potential implications for future economic growth and investment strategies.
