Foreign Portfolio Investment, FPI, inflow into the stock market has recorded further decline following lingering difficulties around the release of their trapped dividends and profits due to foreign exchange scarcity.
Details of the report showed that the FPI’s investment represented 9.51 percent of total equity transactions during the period, which stood at N2.71 trillion as against 16.30 percent participation a year ago. The initial frenzy that greeted the inauguration of President Bola Tinubu in May 2023 and the pronouncement of some market-friendly policies by the new president had begun to wane in July as a result of unclear economic execution pathway.
Further details show that FPI inflow fell Year-on-Year by 31.9 percent to N108.93 billion in September from N160.05 billion in the corresponding period in 2022, while outflow at N149.09 billion, represents a 7.1 percent decrease compared to N160.99 billion withdrawn by foreign investors in Year-to-Date in September 2022.