Nigeria’s stock market is witnessing renewed enthusiasm from local investors, with more than 2.124 million new retail investment accounts opened between 2019 and November 18, 2025, the strongest growth in seven years.
BusinessDay analysis shows a fluctuating but upward trend in new retail accounts. In 2019, 194,097 accounts were opened. The number dropped to 118,459 in 2020, but surged to 289,641 in 2021. Activity slowed to 241,367 in 2022 and plunged to a seven-year low of 68,033 in 2023.
However, momentum returned in 2024 with 285,362 n
