Nigerian Equities Market Suffers N6.5 Trillion Loss in November Amid Investor Caution

The Nigerian equities market recorded its worst monthly performance in history in November 2025, with a staggering N6.543 trillion wiped off market capitalisation. The market began the month at N97.829 trillion and closed at N91.286 trillion by November 28, signalling heightened investor anxiety.

The Nigerian Exchange (NGX) Limited All-Share Index (ASI) mirrored this decline, dropping 6.88 per cent from 153,126.46 points at the end of October to 143,520.53 points by month-end. Analysts attributed the sharp selloff primarily to intensified profit-taking and mounting apprehension among investors amid global and domestic uncertainties.

Investment banker Tajudeen Olayinka noted that the drop came against a backdrop of geopolitical concerns, including international tensions that have unsettled markets. Similarly, David Adonri, vice chairman of HighCap Securities, reassured investors, saying, “Short-term market adjustments are standard in a dynamic market like Nigeria’s. The underlying fundamentals remain strong, and the year-to-date performance highlights the resilience and depth of our capital markets.”

Ambrose Omordion, chief operating officer of InvestData Consulting Limited, highlighted the sustained selling pressure, explaining that mixed sector performances, a waning risk appetite, and ongoing macroeconomic uncertainties have driven the market pullback. “Investors are selectively locking in profits while staying cautious, reflecting a broader wave of caution,” he added.

Looking ahead, market experts suggest a mixed trading pattern may persist as bargain-hunters selectively enter the market. Omordion noted that factors such as inflation expectations, crude oil price movements, fiscal policy signals, and corporate earnings for Q4 will influence investor sentiment. While a short-term relief bounce is possible, overall market caution is expected to continue until clearer signals emerge.

source: Leadership