Foreign Investors Trade N1.22tr On Equities

Foreign portfolio investors traded about N1.22 trillion on Nigerian equities last year, a marginal percentage point increase on about N1.21 trillion traded by foreign investors the previous year. 

A full-year Foreign Portfolio Investment (FPI) report obtained at the weekend from the Nigerian Stock Exchange (NSE) indicated that foreign portfolio investors overtook Nigerian investors as the dominant bloc at the equities market last year, ending a two-year dominance of domestic investors in the market. 

However, transactions tended towards outflows than inflows, reversing the positive net foreign portfolio investments of N336.94 billion recorded in 2017 with a negative net foreign portfolio deficit of N66.2 billion in 2018. 

The FPI report, coordinated by the NSE, polls transactions from major custodians and capital market operators; it is widely regarded as a credible measure of the FPI trend.

(Nation)