Driven by mobile apps, Nigerian retail investors traded $2.07 billion in five months

Retail participation in the Nigerian stock market has grown 138.76% year-on-year, driven by a new generation of investors using mobile apps to access the market and grow their wealth. Domestic retail investors traded ₦2.86 trillion ($2.07 billion) worth of equities between January and May 2026, according to Nigerian Exchange (NGX) data made available to TechCabal. The figure means retail investors now account for 36.22% of all trading activity on the exchange.