A new report has reaffirmed Nigeria as one of the leading countries with a robust and vibrant equities market in Africa.
According to the 2026 African Economic Outlook by African Development Bank (AfDB), Nigeria was listed alongside Egypt, Morocco and South Africa as continually dominating the continent in that regard.
The report said Africa’s equity market landscape had expanded significantly over the past two decades. It said that market capitalisation rose nearly six-fold to 1.2 trillion dollars in 2024, representing about 40 per cent of Africa’s Gross Domestic Product (GDP).
According to the report, market activities remain heavily concentrated in a few economies, including Nigeria, Egypt, Morocco and South Africa. Recall that Nigerian stock market had recently emerged a top frontier market as equities gained N56.62 trillion year-todate.
Nigeria’s equities market sustained its bullish momentum through April, delivering a substantial N26.78 trillion increase in market capitalization and pushing year-to-date (YtD) gains to N56.62 trillion, further cementing its status as one of the top-performing frontier markets in 2026.
