Business

Report indicates FPIs are still not interested in Nigeria

The recent NGX report on domestic and foreign portfolio participation in the Nigerian equities market indicates that foreign portfolio investors are disinterested in the country as the equities market recorded a net FPI deficit of N32.3 billion in the first eight months of 2023.


Specifically, a total of N2.42 trillion worth of transactions was recorded between January and August 2023, 28.1% higher than the N1.89 trillion recorded in the same period of 2022.


The breakdown of the data showed that foreign investors accounted for only 9.2% of the total trade while domestic players contributed 90.58%.