Domestic investors drive 95% of NGX transactions as digital access expands Nigeria's capital market
Domestic investors now account for 95% of transactions on Nigeria's Exchange (NGX), with retail investors contributing N615.83 billion in August 2026 alone, according to NGX Group CEO Temi Popoola. This surge is driven by improved market access, digital channels like NGX Invest, and increased investor awareness.
The banking recapitalisation exercise demonstrated the market's capacity, with 33 banks raising N4.65 trillion - NGX Invest facilitated approximately N2.8 trillion of this through digital distribution. In 2025, NGX facilitated N6.49 trillion in capital raising across government and corporate issuers.
This growing domestic base creates market resilience by reducing dependence on volatile global capital flows. The transition to T+1 settlement and recognition from global index providers like FTSE Russell are improving Nigeria's competitiveness. However, Popoola emphasizes that access must be paired with investor education and protection to ensure sustainable participation.
For Nigerians, this means more opportunities to invest in local businesses through the capital market, but also a need to leverage available educational resources to make informed decisions as digital access expands.