Nigerian Stock Market surge sees transactions jump 78% in February 2026, led by domestic investors and strong foreign inflows

Total transactions on the Nigerian Exchange Limited (NGX) surged by 78.93% to N1.54 trillion (approximately $1,131.27 million) in February 2026, up from N862 billion ($621.67 million) in January, according to a report released on Wednesday.

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Year-to-date February transactions also rose sharply by 115.4% to N2.404 trillion, compared with N1.116 trillion in the same period in 2025.

Domestic investors outperformed foreign participants, accounting for roughly 82% of total transaction value.

Institutional investors led retail investors by 22%, with institutional trades increasing 120.33% to N854.83 billion from N387.97 billion in January.

Retail transactions rose 52.42% to N548.50 billion over the same period.

Foreign portfolio inflows also strengthened, climbing 39.4% in February to N66.71 billion from N47.86 billion in February 2025.

However, foreign investment outflows increased by 9.1% to N72.32 billion from N66.28 billion in January.

On a year-to-date basis, foreign inflows expanded 162.1% to N114.57 billion compared with N43.71 billion in February 2025.

Tajudeen Olayinka, Investment Banker and Chartered Stockbroker, noted that the gains reflect growing stability in Nigeria’s foreign exchange market and continued accretion to foreign reserves.

He said the trends validate the forward-looking adjustment programme initiated by President Bola Ahmed Tinubu’s administration in 2023, which aimed to address structural macroeconomic imbalances.

“The rising foreign portfolio inflows are positive for the Nigerian economy and markets in the near term,” Olayinka added.

“However, outstanding structural issues must be addressed promptly to mitigate potential capital reversals from external shocks.”

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The February performance underscores the resilience of the Nigerian Stock Market surge, driven by domestic confidence and sustained foreign interest, marking a notable recovery in market activity.