Nigeria’s Foreign transactions surge to N540.48bn in H1 2024 – NGX

The Nigerian Exchange Limited (NGX) says N540.48 billion worth of foreign transactions were recorded between January and June 2024.

NGX disclosed this in its report on Wednesday titled, ‘Domestic & Foreign Portfolio Investment’.

According to the firm, Nigeria’s foreign transactions increased compared to N145.08 billion reported in the first half (H1) of 2023.

The report stated that foreign investment inflow accounted for N229.07 billion in H1 2024, against N72.02 billion reported in the same period last year.

However, N311.41 billion worth of portfolio investments were liquidated in H1 of this year, compared to a foreign outflow of N73.06 billion recorded in the corresponding period in 2023.

A further breakdown of the report showed that transactions of N2.06 trillion from domestic investors in H1 2024.

This brought the total worth of domestic and foreign transactions in H1 2024 to N2.60 trillion as of June 31.

“The performance of the current month when compared to the performance in June 2023 (N406.75 billion) revealed that total transactions decreased by 12.83 percent.

“In June 2024, the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by 54 percent”, the report stated.