Checkout Magazine has learned that the Nigerian foreign portfolio deficit reduced by N14.5 billion between the first eight months of 2021 and the first eight months of 2022.
The deficit fell from N15 billion recorded in eight months of 2021 to N1.43 billion reported between January and August 2022, according to the Nigerian Exchange Limited data.
This captures the difference between ‘s foreign portfolio outflows and inflows.
FPI total inflows in the first eight months of 2022 stood at N149.97 billion, compared to the N123.46 billion recorded in the same period of 2021, improving by 21 percent.
The outflows of the FPI surged to N151.40 billion by August 2022 compared to N139.39 billion, a total increase of 8.6 percent.
In an interview with reporters, a stockbroker and analyst, David Adonai, said the improvement could be attributed to the influx of more foreign investors patronizing Nigerian stocks.
According to Adonai, “More foreign portfolio investors exited the market last year. And very few of them remained in the market.
“Out of the few that remain in the market up till this year, you now have that little figure,” he said.
