Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram

Nigerian Stock Market Extends 5-Year Streak With 38% Gain in 2024

Daba Finance/Nigerian Stock Market Extends 5-Year Streak With 38% Gain in 2024
AFRICAN STOCKS AND FINANCEJanuary 8, 2025 at 11:25 AM UTC

TLDR

  • The Nigerian stock market, tracked by the All-Share Index, ended 2024 with a strong 37.65% gain
  • The index closed the year above 102,000 points, driven by resilience in Oil & Gas and Insurance sectors
  • Market capitalization reached N62.76 trillion ($41 billion) by year-end, up from N40.91 trillion in 2023, marking a N21.8 trillion increase

The Nigerian stock market, tracked by the All-Share Index, ended 2024 with a strong 37.65% gain, maintaining a bullish trajectory that began in 2020. The index closed the year above 102,000 points, driven by resilience in Oil & Gas and Insurance sectors, which surged 159% and 123%, respectively.

Market capitalization reached N62.76 trillion ($41 billion) by year-end, up from N40.91 trillion in 2023, marking a N21.8 trillion increase. January’s 35% jump set the tone for the year, but volatility in subsequent months included a mid-year retracement. A late-year rally in the fourth quarter solidified gains, fueled by positive earnings and renewed buying interest.

Since 2020, the All-Share Index has consistently delivered strong fourth-quarter performances, underscoring investor confidence. Notable developments in 2024 included the launch of NGX Invest, a digital platform aimed at boosting retail participation, and plans for blockchain-based investment solutions, signaling potential growth in 2025.

You can follow Daba’s reporting on Africa on WhatsApp. Sign up here

Key Takeaways

The Nigerian stock market’s sustained recovery since 2020 highlights its resilience despite macroeconomic headwinds. The consistent year-end rallies reflect structural market strength and investor optimism. Oil & Gas and Insurance remain key growth sectors, benefiting from favorable policies and capital inflows. The launch of NGX Invest in July 2024 marks a significant step toward increasing retail investor engagement. Its potential to simplify access to Public Offerings and Rights Issues could deepen market participation. Plans for blockchain-enabled investment solutions further underscore a shift toward modernization in the capital markets. However, mid-year volatility in 2024 highlighted challenges such as sentiment shifts tied to recapitalization in the financial services sector. These underscore the importance of structural reforms and investor-friendly policies to sustain momentum.

Stocks
Nigeria
Finance
Investments
Nigeria Stock Market
NGX
Equities

Think someone else should see this?

share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

To invest in this opportunity and other opportunities across Africa

Download the daba finance app on your mobile through
appstore iconappstore icon
Phone Image

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved