Portfolio investments have flooded into Nigeria’s equity market in the first quarter of 2023, reaching a staggering $222.3 million.
This remarkable figure signifies a staggering 4,472% surge when compared to the preceding quarter (Q4 2022).
These noteworthy statistics were disclosed by the National Bureau of Statistics in its recently published Capital Importation report.
The report provides valuable insights into the country’s financial landscape during the initial months of this year.
Interestingly, Nigeria had previously encountered difficulties in attracting foreign portfolio investments in the equity sector, only receiving a paltry sum of $56 million as investors hesitated to engage with the country due to its foreign exchange policies.
However, it seems that recent policy changes have played a pivotal role in enticing investors back to the thriving equities market.
