Nigeria’s capital market is witnessing a historic surge in liquidity as freshly released data reveals that investors traded a massive N4.15 trillion on the Nigerian Exchange (NGX) during the first quarter of 2026.
In reports released by the Exchange in the early hours of today, The 23rd of April, 2026, it is shown that the month of March alone accounted for N1.74 trillion of this value, marking one of the most active periods in the history of the Lagos Bourse.
This aggressive trading activity has been fueled by a combination of strong corporate earnings, the finalization of the banking sector recapitalization, and a renewed appetite from offshore fund managers who are gradually returning to the Nigerian equities market.
A standout highlight of the March performance was the significant leap in foreign participation. Foreign inflows jumped by 78% during the month, hitting N288.47 billion. This spike suggests that international investors are gaining confidence in Nigeria’s ongoing fiscal reforms and the relative stabilization of the Naira.
However, despite this foreign resurgence, domestic investors continue to hold the steering wheel, accounting for over 70% of the total transactions in Q1. Institutional giants and high-net-worth individuals have been rebalancing their portfolios to capture high dividend yields from “SWOOT” stocks (Stocks Worth Over One Trillion) like BUA Foods and MTN Nigeria.
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The “bull run” seen in the first three months of the year resulted in a staggering N29.83 trillion gain for equity investors. Market analysts attribute this wealth creation to the repricing of blue-chip stocks in the banking and industrial sectors.
Temi Popoola, the Group Managing Director of the NGX Group, described the milestone as a clear signal that the capital market is becoming a central catalyst for national wealth. For many local retail investors, the crossing of the 200,000-point mark by the All-Share Index has turned the stock market into a more attractive hedge against inflation compared to traditional savings.
As of Thursday morning, April 23, market sentiments remain broadly positive, though some analysts warn of potential “profit-taking” as the second quarter begins. The sheer volume of N4.15 trillion in just 90 days has not only placed the NGX as one of the best-performing exchanges globally for the start of 2026 but it has also increased the risk of potential profit taking from investors.
