The Nigerian Exchange Limited (NGX) reported a remarkable 44.8% surge in equity transactions for Q1 2025, with total trading volume reaching N2.23 trillion compared to N1.54 trillion in the same period last year.

According to NGX's 'Domestic & Foreign Portfolio Investment Report' released Monday, foreign investors accounted for N814.05 billion in transactions, while domestic investors contributed N1.41 trillion during the quarter.

March 2025 saw particularly strong performance with total transactions jumping 118.95% to N1.16 trillion from February's N509.47 billion. This represents a 107.14% increase compared to March 2024 figures.

Notably, foreign investors outperformed domestic players by approximately 26% in March, with foreign transactions skyrocketing by 1,541% month-over-month to N699.89 billion from February's N42.65 billion.

Foreign inflows surged dramatically in March to N349.97 billion—a 1,263.87% increase for Q1—while foreign outflows also grew significantly by 663.18% to N349.92 billion in March.

Meanwhile, domestic trading activity showed a downward trend throughout the quarter. Domestic inflows fell by 26.78% over the period, while domestic outflows declined by 17.53%. Overall domestic transactions decreased by 10.98% from February to March 2025.

Among domestic investors, institutional investors maintained a slight edge over retail participants, accounting for 53% versus 47% of total domestic transactions. Institutional activity decreased by 13.40% month-over-month in March, while retail transactions dropped by 8.11%.

The dramatic increase in foreign investment activity against declining domestic participation marks a significant shift in Nigeria's equity market dynamics for early 2025.​​​​​​​​​​​​​​​​