Foreign investors have withdrawn a net N266.07 billion from Nigeria’s equities market in the first seven months of 2026, marking a sharp increase from the N22.68 billion recorded during the same period in 2023.

Data from the Nigerian Exchange Limited shows that foreign investors brought in N513.36 billion between January and July 2026 but withdrew N779.43 billion, leaving a net outflow of N266.07 billion.

Analysts say the trend is a concern because foreign investors provide significant liquidity to the market and contribute foreign exchange. They attribute the withdrawals to factors including profit-taking, portfolio rebalancing and concerns about Nigeria’s investment environment.

However, analysts note that domestic investors have helped sustain activity on the Nigerian Exchange, while some foreign investors have shifted more of their funds into fixed-income securities because of attractive yields.