Nigeria’s Stocks Hit Record High as Reforms Boost Investor Confidence
TLDR
- Nigeria’s equities market climbed to a new record this week, extending its 2025 rally amid renewed investor confidence and sweeping economic reforms
- The Nigerian Exchange All-Share Index (NGX ASI) rose 1.01 % to 151,456.91 points, lifting market capitalisation to ₦96.13 trillion
- The benchmark index has gained 6.1 % this month and 47.2 % year-to-date, driven by strong demand for blue-chip stocks in the banking, industrial, energy, and consumer-goods sectors
Nigeria’s equities market climbed to a new record this week, extending its 2025 rally amid renewed investor confidence and sweeping economic reforms. The Nigerian Exchange All-Share Index (NGX ASI) rose 1.01 % to 151,456.91 points on Tuesday, its highest ever, lifting market capitalisation to ₦96.13 trillion.
The benchmark index has gained 6.1 % this month and 47.2 % year-to-date, driven by strong demand for blue-chip stocks in the banking, industrial, energy, and consumer-goods sectors. Analysts attribute the rally to improving foreign-exchange liquidity, reform momentum, and a more stable macroeconomic outlook.
At the Financial Times Africa Summit 2025 in London, NGX Group CEO Temi Popoola said coordinated reforms by the Central Bank, SEC, and other regulators have restored investor trust. SEC Director-General Emomotimi Agama added that the new Investments and Securities Act 2025 enhances market governance and transparency.
Despite lingering inflation, participants at the summit said Nigeria’s challenge now is ensuring reform-driven gains translate into inclusive growth.
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Key Takeaways
Nigeria’s stock-market momentum reflects optimism over policy consistency and a turnaround in capital-market governance. The liberalisation of the naira, subsidy removal, and tighter coordination between fiscal and monetary authorities have begun to ease liquidity constraints and attract fresh portfolio inflows. Trading activity on the NGX has surged, with daily turnover exceeding ₦20 billion and broad-based gains across consumer goods, energy, and financials. SCOA Nigeria, BUA Foods, and Vitafoam Nigeria led the session’s risers, while LivingTrust Mortgage Bank and Conoil declined. Market watchers say the rally signals both a vote of confidence in Nigeria’s reform path and expectations of stronger earnings from corporates benefiting from currency stability and policy clarity. However, analysts caution that maintaining momentum will depend on controlling inflation, sustaining FX reforms, and channelling capital-market growth into job creation and industrial productivity. With a 47 % year-to-date surge, Nigeria remains one of Africa’s top-performing equity markets in 2025.
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