In 2024, the Nigerian Exchange Limited witnessed a surge in trading activity, with total transactions hitting N5.59tn, indicating increased market engagement. Domestic transactions took the lead in both domestic and foreign portfolio participation, comprising 85% of the total volume at N4.73tn.
Foreign portfolio transactions made up the remaining 15% at N852.03bn. Notably, NGX experienced a substantial increase in trading in December 2024, with total transactions amounting to N673.66bn, marking a 52.29% rise from the previous month and a 95.88% increase from December 2023.
Domestic investors continued to dominate the market, contributing N606.91bn (90.09%), whereas foreign investors contributed N66.75bn (9.91%) in December. Institutional investors outperformed retail investors in domestic activity, with institutional transactions reaching N406.04bn, a significant increase from the previous month.
An analysis of domestic and foreign portfolio participation throughout 2024 revealed that institutional investors led the market, accounting for the majority of transactions. Domestic transactions have shown a growth trend over the years, increasing by 33.15% from N3.56tn in 2007 to N4.73tn in 2024.
By October, domestic transactions had reached N3.73tn, representing 83.35% of total market activity. Overall, equity trading in Nigeria saw positive growth, with total transactions hitting N10.82tn by December 31, 2024, largely driven by local investor participation.