Data from the Nigerian Exchange (NGX) mentions that foreign portfolio investments in Nigeria's equity market fell sharply by 92.39% in April 2025, with inflows dropping to N26.64 billion, from N349.97 billion in March.

The decline in foreign investment reflects the absence of large trading blocks that boosted activity in March and the growing caution of global investors. Total foreign transactions fell by 90.99%, from 699.89 billion naira in March to 63.07 billion naira in April, with outflows exceeding inflows to 36.43 billion naira, resulting in a net capital outflow of 9.79 billion naira for the month. Foreign market participation declined to 13.08% from 62.74% the previous month. Overall market activity also fell by 56.79%, from 1,115 billion naira to 482.04 billion naira

Year-on-year, activity in April grew by 39.22%, from 346.23 billion naira in April 2024. Domestic investors dominated, accounting for 86.92% of April's trade. The sharp drop in foreign investment in April underscores how vulnerable Nigeria's equity market remains to external shocks.