Nigerians Pour N981 Billion Into Stocks in First Seven Months of 2025 Amid Retail Investment Boom
Story: Written by Okafor Joseph September 2,2025
September 2, 2025 – Nigerian retail investors pumped over N981 billion into equities on the Nigerian Exchange (NGX) between January and July 2025, marking a 56 percent year-on-year surge compared to N630 billion during the same period in 2024. The spike underscores the growing appetite of everyday Nigerians for stock market participation.
However, withdrawals outpaced inflows. Data show that retail investors pulled out N1.007 trillion, a 57 percent increase from N640.9 billion last year. The parallel rise in deposits and withdrawals reflects a more active trading culture, as more Nigerians now buy and sell stocks in response to market swings.
July emerged as the busiest month, with inflows of N235.3 billion and withdrawals of N281.2 billion, resulting in a net outflow of N45.6 billion. Other inflows included N130.3 billion in January, N99.1 billion in February, N103.3 billion in March, N98.3 billion in April, N172.3 billion in May, and N142.7 billion in June.
A key driver of this boom is the rise of digital investment platforms, which have lowered entry barriers, particularly for younger Nigerians. Data from the Central Securities Clearing System (CSCS) show that nearly 151,749 new brokerage accounts were opened between January and May 2025. Apps like Bamboo (48,000 new accounts) and Afrinvestor (almost 35,000) are spearheading this retail revolution.
“The level of inquiries from new investors is unlike anything we’ve seen before,” said Samuel Oyekanmi, research associate at Norrenberger, during an interview with BusinessDay TV.
The excitement is also fueled by the extraordinary performance of certain stocks. Beta Glass has soared over 600 percent, while MTN Nigeria has gained 118 percent year-to-date. These rallies have sparked vibrant social media discussions, attracting new audiences to finance influencers and boosting retail investor confidence.
Despite the retail surge, institutional investors remain dominant players. Between January and July 2025, they invested N1.475 trillion and withdrew N1.26 trillion, leaving a net inflow of N213 billion. Unlike retail investors, institutions typically deploy patient, long-term capital.
Analysts, however, caution that while the trend reflects deeper financial inclusion beyond banking, the challenge lies in ensuring that Nigerians are building sustainable wealth rather than engaging in short-term speculation. With more households now exposed to equities, the need for investor education, stronger regulation, and market stability has never been greater.
