Nigeria’s portfolio investment in Q2 2023 declined by 83.54% to $106.85m, despite ranking as the second top source of capital importation. The National Bureau of Statistics reported a 85% year-on-year drop, with equity contributing $8.52m, bonds contributing $85.29m, and money market instruments bringing in $13.04bn. The three items depreciated by 96.17%, 71.67%, and 89.64% respectively quarter-on-quarter. The Nigerian Exchange Limited and other partners have been conducting a non-deal roadshow to stimulate foreign investors’ interest in Nigeria. The downgrade of Nigeria to an unclassified market by FTSE in September worsened the situation, as investors fear their funds may be trapped due to foreign exchange market challenges. President Bola Tinubu declared Nigeria open for investment during the roadshow in New York, while NGX CEO Temi Popoola emphasized the country’s openness for business and the ongoing efforts to address the country’s challenges.