Foreign portfolio investment (FPI) in Nigerian equities has climbed to its highest level since 2020, signaling renewed global interest in the nation’s financial markets.
According to the National Bureau of Statistics (NBS), FPI inflows into Nigerian equities totaled $284 million in the first nine months of 2024, reflecting a 19% increase from $239.2 million during the same period in 2023.
This milestone represents the most significant foreign engagement with Nigerian equities since the COVID-19 pandemic disrupted global markets.
Notably, FPI inflows during the first nine months of 2020 had reached approximately $737 million. Comparatively, FPI levels had dwindled to $168.5 million in 2021 and $51.7 million in 2022, before rebounding to $239.2 million in 2023.
In Q3’24, the $84.7 million invested marked the highest quarterly inflow since 2019 and an extraordinary 912 per cent surge from the $8.4 million recorded in Q3’23.
