Nigeria experienced an influx of portfolio investments into its equity market during the first quarter of 2023, amounting to $222.3 million.

According to POLITICS NIGERIA, this figure marks a 4,472% increase compared to the previous quarter (the fourth quarter of 2022).

The National Bureau of Statistics unveiled these statistics in its recently released Capital Importation report.

The report sheds light on the nation’s financial landscape for the initial months of this year.

Interestingly, Nigeria had previously struggled to attract foreign portfolio investments in equity, receiving a meagre sum of $56 million as investors refrained from engaging with the country due to its forex policies.

However, it appears that policy changes have played a pivotal role in luring investors back to the thriving equities market.

Details later…