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Despite recent improvements in Nigeria’s macroeconomic fundamentals, uncertainty still pervades the country’s ability to attract foreign direct investments with concerns over rising insecurity ahead of the 2023 general elections. This is coming on the heels of the Domestic and Foreign Portfolio Report of the Nigerian Exchange (NGX) Limited which revealed that total foreign transactions decreased more sharply by 49.22 per cent from N69.56 billion to N35.32 billion between November and December 2021. The report further revealed that domestic participation grew to about 78 per cent while foreign participation fell by 22 per cent. Also, foreign inflows dropped significantly by N15.46 billion, however, domestic inflows grew by N64.23 billion.
“As at 31 December 2021, total transactions at the nation’s bourse decreased by 19.31 per cent from N196.14 billion (about $472.54 million) in November 2021 to N158.26 billion (about $363.81 million) in December 2021. The performance of the current month when compared to the performance in December 2020 (N269.24 billion) revealed that total transactions decreased by 41.22 per cent.
