Nigerians invested more than N981 billion into equities on the Nigerian Exchange (NGX) between January and July 2025, marking a sharp 56 percent jump compared to N630 billion recorded in the same period last year. The surge underscores a growing appetite for stock market participation among everyday citizens, even as withdrawals reached N1.007 trillion, up 57 percent from N640.9 billion in 2024. The scale of both inflows and outflows reflects a fast-expanding retail footprint in the capital market, pushing financial inclusion beyond traditional banking.
Much of this momentum has been driven by the rapid rise of investment apps, which have opened up the market to younger Nigerians by lowering entry barriers. Figures from the Central Securities Clearing System (CSCS) show that 151,749 new brokerage accounts were opened in just five months, with platforms like Bamboo adding 48,000 accounts and Afrinvest’s Afrinvestor app gaining nearly 35,000. Analysts note that this digital shift is reshaping investor behavior, with stock trading increasingly becoming part of everyday financial culture.
Monthly figures reveal that July accounted for the largest inflows, with retail investors committing N235.3 billion but withdrawing N281.2 billion, leaving a net outflow of N45.6 billion. Earlier in the year, inflows were N130.3 billion in January, N99.1 billion in February, N103.3 billion in March, N98.3 billion in April, N172.3 billion in May, and N142.7 billion in June. Despite frequent withdrawals, high-profile stock rallies — such as Beta Glass soaring by more than 600 percent and MTN Nigeria gaining 118 percent year-to-date — have kept market enthusiasm strong, sparking vibrant social media discussions and growing the influence of finance-focused voices.
Institutional investors, however, remain the stabilizing force in the market. Between January and July, they invested N1.475 trillion while withdrawing N1.26 trillion, leaving a net inflow of N213 billion. Their long-term orientation contrasts with the faster trading patterns of retail investors, highlighting the dual dynamics of Nigeria’s capital market.
Experts caution that while the retail boom broadens financial inclusion, the challenge lies in ensuring sustainable wealth creation rather than short-term speculation. With more households now directly exposed to equities, the need for robust investor education, stronger regulation, and market stability has become more urgent than ever, if the momentum is to translate into long-term prosperity.
