Nigeria’s equity market climbed to a new high this week, extending its rally on the back of broad economic reforms and improving investor sentiment.
The NGX All-Share Index (ASI) advanced 1.50 per cent to close at 153,736.25 basis points yesterday. The market capitalisation gained by N1.447 trillion to close at N97.581 trillion. The index has now gained 49.37 per cent year-to-date, underscoring the strength of demand in blue-chip stocks across key sectors.
The market’s advance underscores renewed investor confidence in Nigeria’s capital markets and their resilience to a shifting macroeconomic environment.
Analysts noted that the rally reflects sustained demand for blue-chip stocks in the banking, industrial, oil and gas, and consumer goods sectors, a trend buoyed by reform-led optimism, improving foreign exchange liquidity, and a more stable economic outlook.
The rebound coincides with a broader policy reset that has redefined Nigeria’s economic outlook. Measures such as the liberalisation of the naira, removing fuel subsidies, and closer coordination between fiscal and monetary authorities have begun to restore macroeconomic stability, even as inflation remains elevated.
These themes dominated discussions at the Financial Times Africa Summit 2025 in London, where the group managing director and chief executive officer of Nigerian Exchange Group, Temi Popoola, joined a panel titled ‘Nigeria’s Economic Journey: Crisis, Recovery, and Risk’.
Popoola noted that much of the market’s resilience can be traced to a wave of coordinated reforms that have rebuilt confidence in the country’s financial architecture.
“The strength we have seen in the market has been driven largely by reforms, from the President’s economic agenda to decisive actions by the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), National Pension Commission (PenCom), and other regulators.
“These efforts have created the right foundation for investor confidence and renewed market activity,” he said.
The director-general of the SEC, Emomotimi Agama, echoed a similar sentiment, pointing to the Investments and Securities Act 2025 as a turning point for market governance and regulatory transparency.
“The new law was crafted to reflate the economy by providing clarity, certainty, and discipline in our markets.
“Robust regulation has been central to restoring market integrity and investor trust, providing the transparency required to anchor long-term capital formation in Nigeria,” Agama said
Reviewing yesterday’s market activities, market sentiments closed positive, as evidenced by 32 stocks appreciating compared to 30 that depreciated. ASO Savings & Loans recorded the highest price gain of 10 per cent to close at 55 kobo per share. Skyway Aviation Handling Company followed with a gain of 9.99 per cent to close at N99.05, while UPDC Real Estate Investment Trust rose by 8.16 per cent to close at N7.95, per share.
On the other hand, The Initiates Plc (TIP) led the losers’ chart by 5.73 per cent to close at N13.00, per share. Legend Internet followed with a decline of 5.69 per cent to close at N5.80, while Royal Exchange declined by 4.76 per cent to close at N2.20, per share.
Meanwhile, the total volume traded up by 3.86 per cent to 589.486 million units, valued at N24.010 billion, and exchanged in 28,485 deals.
