…posts N29.3trn gain
The Nigerian equities market has delivered a remarkable performance in first quarter 2026, posting an impressive N29.314 trillion gain and cementing the Nigerian Exchange Limited (NGX) as the second best-performing stock market globally on a year-to-date basis. The rally affirms sustained investor confidence, strengthened by macroeconomic reforms, improved market liquidity, and strong corporate fundamentals.
Building on its exceptional 2025 performance when the NGX All-Share Index (ASI) surged by 51.19 per cent to close at 155,613.03 points, the market has extended its bullish trajectory into 2026.
By March 27, 2026, the ASI had climbed to 200,913.06 points, reflecting robust buying interest across key sectors, particularly banking, industrial goods, and consumer stocks. Market capitalization mirrored this upward trend, rising from N99.376 trillion at the start of the year to N128.69 trillion, highlighting a strong influx of both domestic and institutional investors.
The year-to-date gain of N29.314 trillion signals a significant wealth creation effect and reinforces Nigeria’s position as a preferred destination for portfolio investments in emerging markets. Globally, Nigeria now ranks just behind South Korea’s KOSPI, which has recorded one of the strongest rallies worldwide, with gains approaching 49.7 per cent.
The NGX’s performance places it ahead of other major markets, including Brazil’s MSCI Brazil Index, which has posted an 18.05 per cent return, and Japan’s MSCI Japan Index, which has recorded a modest 2.94 per cent gain in the same period. A closer look at monthly performance shows a steady and broad-based rally.
In January, the market gained 6.27 per cent, with capitalization rising from N99.376 trillion to N106.153 trillion, while the ASI advanced to 165,370.40 points. February recorded a more pronounced surge, with a 16.60 per cent increase in market value to N123.763 trillion, as the ASI jumped to 192,826.78 points.
The upward momentum continued into March, albeit at a slower pace, with a 3.97 per cent increase pushing market capitalization to N128.693 trillion and the ASI closing at 200,484.43 points.
