In the first half of 2025, the Nigerian Exchange (NGX) raised over N4.63 trillion through corporate and sovereign instruments, marking a substantial milestone for Nigeria’s capital market. This capital inflow, facilitated largely via public offerings, is reported to have significantly contributed to the country’s economic development by funding infrastructure, enterprise expansion, and innovation. A key contributor to this success was NGX Invest, the digital platform introduced in 2024, designed to ease investor access to primary market opportunities.
The NGX Invest platform has become central to the ongoing banking sector recapitalization, which alone has mobilized over N2 trillion. Alongside this, NGX has experienced a broader boost in performance metrics, thanks to internal reforms and enhanced collaboration with regulatory bodies such as the SEC. NGX Group CEO, Temi Popoola, credited these advancements to increased market transparency, product expansion, and investor protection, all of which have encouraged broader participation and confidence in the Exchange.
Market data from H1 2025 supports this optimism. Total market capitalization rose by 16% to N126.7 trillion, with equities seeing the largest jump—from N62.7 trillion to N75.9 trillion. Fixed income securities held steady at N50.5 trillion, while Exchange Traded Funds (ETFs) saw renewed interest, rising to N25.7 trillion. These figures underscore the NGX Group’s commitment to a dynamic, investor-centric market via digital innovation and policy-driven strategies.
Market analysts are also taking note. David Adonri, Vice Chairman of Equity Capital Solutions, pointed to more stable interest rates and a more predictable foreign exchange regime as key factors restoring investor confidence. This resurgence was most visible in the equities space, where trading volumes and investor participation remained robust throughout the period. The reforms and tools introduced have made the Exchange more accessible and attractive to both institutional and retail investors.
The performance of the All-Share Index (ASI) further reinforces the bullish sentiment. From 102,928.6 points in January, the ASI climbed to 119,978.6 points by June, delivering a year-to-date gain of 16.57%—its sixth consecutive H1 rally since 2023. Sector performance was also impressive: the NGX Consumer Goods Index surged by 51.21%, while the NGX Pension Index and NGX Banking Index recorded gains of 19.32% and 18.06% respectively, highlighting the growing strength and diversity of Nigeria’s capital markets.
Source: Nairametrics