NGX Market Value Crosses ₦100 Trillion, Closes at ₦101.81 Trillion

Nigeria’s stock market has started 2026 on a strong note, with total market capitalisation on the Nigerian Exchange (NGX) rising above ₦100 trillion for the first time and closing at about ₦101.81 trillion.

The milestone was driven by sustained buying from both local and foreign investors, extending the bullish momentum that carried into the new year from a strong 2025 rally.

What Happened in the Market

Market capitalisation climbed from roughly ₦99.94 trillion at the start of trading to about ₦101.81 trillion by the close, meaning the market added close to ₦1.87 trillion in a short period.

The NGX All-Share Index (ASI) also rose sharply, gaining 1.74% to close around 159,218 points, pushing the market’s early year-to-date return to about 2.32%.

The rally was broad-based. More stocks advanced than declined, showing that investor interest was spread across key sectors rather than concentrated in just a few companies.

Why Investors Are Buying Early in 2026

A major reason for the early rush is positioning ahead of earnings season. Many investors are taking fresh positions in anticipation of full-year audited results and dividend announcements, especially in large, liquid stocks that historically pay strong dividends.

There is also the typical “January effect,” where fund managers and retail investors rebalance portfolios at the start of a new year, moving money into equities they believe will outperform.

What NGX Leaders Are Saying

Temi Popoola, Group Managing Director/CEO of NGX Group, described the move past ₦100 trillion as a strong signal of renewed confidence in Nigeria’s capital market. He linked the milestone to improving macroeconomic conditions and reforms that have strengthened market depth, transparency, and investor protection.

Jude Chiemeka, CEO of NGX, also pointed to rising participation and stronger demand across banking, industrial, and consumer stocks, saying the market breadth suggests growing confidence and a more active start to the year.

The 2025 Rally That Set the Stage

This early 2026 surge is building on a strong 2025 performance. Last year, Nigerian equities delivered a 51.19% return, while total market value rose from about ₦62.76 trillion at the start of 2025 to about ₦99.38 trillion by year-end.

That rally helped pull more attention to Nigerian stocks and positioned the market as one of the better-performing markets globally.