Nigerian Capital Market Hits ₦95trn in 2025 — NGX Chairman

The Chairman, Board of the Nigerian Exchange Group (NGX Group), Umaru Kwairanga, has revealed that Nigeria’s market capitalisation has risen to over ₦95 trillion, more than doubling within one year.

Kwairanga described the performance of the capital market in 2025 as “very good” and almost transformative, attributing the feat to strong reforms, increased investor confidence, and significant technological improvements.

Speaking on Arise News on Monday, Kwairanga said, “As of this time last year, we were less than ₦50 trillion. Today, we are over ₦95 trillion, and before the end of this year, our target is ₦100 trillion,” he said.

He noted that the All-Share Index has gained over 45 per cent in 2025, while activities in the primary market have rebounded, with significant increases in trading volumes and values.

According to Kwairanga, the market’s performance was driven by several strategic factors, including government reforms, banking sector recapitalisation, improved corporate governance, increased listings and the deployment of technology.

“The current government reforms have gone a long way in restoring confidence in the Nigerian capital market,” he said.

Kwairanga revealed that Nigerian banks raised over ₦3 trillion in 2025 alone to meet recapitalisation requirements, a process he said was largely enabled by NGX’s digital investment platforms.

“We introduced a platform called NGX Invest Today, which allows investors to use their gadgets from the comfort of their homes to invest in the Nigerian capital market,” he explained.

He also highlighted a surge in retail investor participation, noting that the number of retail investors grew from less than one million in 2023 to over six million in 2025.

“This growth did not happen by chance. We restructured our board, brought in new management, embraced technology and simplified our processes, and it has worked,” he said.

Looking ahead, the NGX chairman expressed strong optimism about 2026, describing it as a year that would be “much, much better” for the capital market.