Nigerian Exchange (NGX) opened the year on a strong footing, with equities market capitalisation crossing the ₦100 trillion mark, buoyed by renewed investor demand and broad-based gains across listed stocks.
Market data showed that equities market capitalisation rose from ₦99.94 trillion on January 2 to ₦101.81 trillion by January 5 to open the week positive, translating to a ₦1.87 trillion increase within two trading sessions.
The All-Share Index (ASI) gained 1.74 percent in the latest trading session, lifting both month-to-date and year-to-date returns to 2.32 percent. The rally was driven by strong buying interest in stocks such as Cadbury Nigeria, Fidson Healthcare, and Champion Breweries, reflecting the traditional “January Effect” that often characterises early-year market activity.
Investor sentiment strengthened markedly, with market breadth improving to 9.13x as 73 equities recorded gains against eight decliners, signalling widespread participation in the rally.
Commenting on the development, SEC Director-General, Dr. Emomotimi Agama, said the ₦100 trillion mark reflects the outcome of a deliberate regulatory strategy focused on building a fair, transparent, and resilient capital market.
“This milestone is not just about numbers; it reflects the impact of sustained reforms anchored on enhanced investor protection, market integrity, and long-term confidence,” Agama said. “The ISA 2025 has strengthened the Commission’s ability to supervise the market effectively, enforce rules consistently, and ensure that capital is deployed in an environment of trust and transparency.”
Agama added that greater regulatory clarity and predictability have been central to restoring investor confidence, noting that consistent rule-making and enforcement encourage long-term capital commitments.
Speaking on the milestone, Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, said the achievement reflects growing confidence in the Nigerian capital market.
“The equities market capitalisation crossing the ₦100 trillion mark is a defining milestone for Nigeria’s capital market and a clear signal of renewed investor confidence as the year begins,” Popoola said. “It reflects the market’s growing depth, resilience, and ability to respond positively to improving macroeconomic conditions and structural reforms.”
He added that sustained collaboration between market stakeholders and regulators has played a key role in strengthening market credibility. “Over the past two years, closer alignment between market operators, policymakers, and the Securities and Exchange Commission (SEC) has enhanced transparency, liquidity, and investor protection, reinforcing the Exchange’s role in mobilising long-term capital for economic growth,” he said.
Providing further insight into market activity, Jude Chiemeka, Chief Executive Officer, Nigerian Exchange Limited, noted that the rally was supported by improving participation and selective demand across key sectors.
“The breadth of the market tells a positive story,” Chiemeka said. “We are seeing strong participation across banking, industrial, and consumer stocks, alongside rising trading volumes, which suggests growing investor confidence and a more active market at the start of the year.”
Trading activity was mixed during the session. Total volume traded rose by 58.13% to 695.64 million shares, while the value of transactions declined by 25.57% to ₦18.57 billion across 56,606 deals. Year-to-date equities turnover increased to ₦43.52 billion.
To open the week, Zenith Bank led trading by value at ₦3.51 billion, followed by WAPCO with ₦2.56 billion and Aradel Holdings at ₦1.57 billion, while Access Holdings and GTCO also featured among the most actively traded stocks.
Meanwhile, fixed income market capitalisation remained unchanged at ₦51.48 trillion, while the exchange-traded funds segment recorded growth, with market capitalisation rising to ₦50.45 billion, underscoring increasing investor interest across asset classes.