In the first five months of 2024, foreign portfolio investors (FPIs) withdrew N267.47 billion from Nigeria’s equities market, compared to the N190.82 billion they invested.
This represents a significant increase in outflows compared to the same period in 2023, when FPIs brought in N49.30 billion and withdrew N50.04 billion.
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Breaking down the monthly figures, January 2024 saw foreign inflows of N15.78 billion and outflows of N37.33 billion. In February, inflows were N24.93 billion while outflows reached N40.88 billion. March recorded foreign inflows of N52.66 billion, surpassing the outflows of N41.60 billion. However, April saw the highest outflows, with FPIs withdrawing N78.25 billion against an inflow of N42.58 billion.
Over a sixteen-year period, domestic transactions in Nigeria decreased by 10.94%, from N3.556 trillion in 2007 to N3.167 trillion in 2023. Foreign transactions also saw a decline of 33.28%, dropping from N616 billion to N411 billion over the same period. In 2023, domestic transactions made up 89% of total market transactions, while foreign transactions accounted for 11%.
In the five-month review period of 2024, stocks traded on the Nigerian Exchange were worth N2.249 trillion. Foreign investors were responsible for N458.29 billion, or 20.37%, while domestic investors accounted for N1.791 trillion, or 79.63%.
Within the domestic segment, retail investors traded stocks worth N885.19 billion, while institutional investors accounted for N906.07 billion.
Nigeria’s public debt stock increases to N121.67 trillion in Q1 2024 – NBS
Earlier, Daily News 24 reported how Nigeria’s public debt stock increased from N97.34 trillion (108.23 billion dollars) in the fourth quarter of 2023 to N121.67 trillion (91.46 billion dollars) in the first quarter of 2024.
The National Bureau of Statistics (NBS) said this on June 25, 2024, in its Nigerian Domestic and Foreign Debt Report for Q1 2024, released in Abuja.
The report said Nigeria’s public debt stock, which included external and domestic debts, grew by 24.99 percent on a quarter-on-quarter basis.
It said that external debt stood at N56.02 trillion (42.12 billion dollars) in Q1 2024, while domestic debt was N65.65 trillion (49.35 billion dollars).
