Home traders traded N13.52 trillion value of equities at the Nigerian Change (NGX) within the first 9 months of 2026, exceeding the N9.27 trillion recorded during 2025 by way of N4.24 trillion, or 45.73%.
That is consistent with the NGX Domestic and Foreign Portfolio Investment Report for September 2026, which confirmed that home fairness transactions rose 101.81% from N6.70 trillion within the corresponding duration of 2025.
Home traders now account for 89.74% of overall fairness turnover, in comparison with 78.44% a yr previous, reflecting the rising dominance of native establishments and retail traders.
Home Buying and selling surges 101.81%:
Overall fairness transactions at the NGX rose 76.41% to N15.06 trillion within the 9 months, in comparison with N8.54 trillion within the corresponding duration of 2025.
The determine additionally exceeded the roughly N11.92 trillion recorded during 2025 by way of 26.33%, with home traders accounting for many of the build up.
- Home institutional traders traded N8.37 trillion, representing a 104.81% build up from N4.09 trillion within the corresponding duration of 2025. They accounted for roughly 63% of the rise in home transactions.
- Home retail traders recorded N5.15 trillion in transactions, up 97.12% from N2.61 trillion a yr previous.
- Overseas traders traded N1.55 trillion, down 16.01% from N1.84 trillion, decreasing their percentage of overall transactions to ten.26% from 21.56%.
- Overseas buying and selling throughout the 9 months represented roughly 58% of the N2.65 trillion recorded during 2025, contrasting with home transactions, which had already surpassed their full-year 2025 stage.
The year-on-year comparability supplies a clearer measure of buying and selling expansion as it compares the similar nine-month classes, somewhat than 9 months of 2026 in opposition to the complete 2025 calendar yr.
Overseas Buyers report N281 billion Web Gross sales:
Overseas traders remained internet dealers of Nigerian equities throughout the primary 9 months of 2026, promoting N281.26 billion greater than they bought.
This compares with internet purchases of N219.94 billion within the corresponding duration of 2025, representing a detrimental swing of N501.20 billion.
- Overseas purchases declined 38.63% to N632.35 billion, whilst gross sales higher 12.74% to N913.61 billion. Overseas traders recorded internet gross sales each and every month, with the biggest going on in March at N74.72 billion and April at N66.10 billion.
- September fairness transactions rebounded 43.06% to N1.82 trillion from N1.27 trillion in August, making it the third-highest buying and selling month of 2026 after July and Would possibly. Overseas transactions rose 208.14% to N191.14 billion, even supposing overseas traders remained internet dealers by way of N6.10 billion.
- Home institutional buying and selling crossed N1 trillion in September, attaining N1.005 trillion, up 53.57%, whilst retail transactions higher 12.10% to N619.77 billion. Retail traders recorded internet purchases of N5.27 billion.
Nairametrics previously reported that foreign participation dropped to 4.89% in August, its lowest stage of 2026, whilst home transactions had reached N11.89 trillion. Home buying and selling had already exceeded the full-year 2025 overall in July, attaining N10.68 trillion.
Alternatively, internet overseas fairness gross sales must now not be interpreted as identical foreign currencies outflows, because the transactions don’t determine how a lot foreign currencies in truth left Nigeria.
What the NGX buying and selling figures expose:
The pointy build up in home fairness transactions highlights the rising function of native traders, specifically establishments, in figuring out buying and selling task at the Nigerian Change.
Alternatively, the figures measure the price of fairness purchases and gross sales somewhat than the selection of traders, new capital coming into the marketplace or adjustments out there price of traders’ holdings.
- The NGX document of upper buying and selling turnover does now not essentially point out an identical build up in new funding.
- The NGX’s September narrative reported retail buying and selling expansion of 47.41% and institutional expansion of 23.74%.
- Alternatively, calculations the usage of the document’s figures display will increase of 12.10% and 53.57%, respectively.
This research makes use of the expansion charges calculated from the reported transaction values. With home establishments accounting for a lot of the rise in fairness turnover, buying and selling task at the NGX stays an increasing number of depending on native traders’ urge for food, at the same time as overseas participation continues to weaken.