NGX Market Capitalization Hits N217.7 Trillion Amid Strong Equities and ETF Growth

The Nigerian Exchange (NGX) recorded a remarkable surge in total market capitalization, closing mid-January 2026 at N217.749 trillion. This represents a 44.3% increase from the N150.898 trillion recorded at the end of 2025, reflecting renewed investor confidence and the positive impact of ongoing financial market reforms.

Analysis of NGX data shows that the equities segment was the main driver of growth, with market capitalization rising sharply from N99.376 trillion to N166.13 trillion—a 67.2% jump. The increase demonstrates strong investor appetite for shares across various sectors, signaling that local and institutional investors are increasingly confident in Nigeria’s capital market.

While the Fixed Income market saw modest gains, edging up from N51.476 trillion to N51.55 trillion, the Exchange-Traded Funds (ETFs) market experienced robust growth. Capitalization in ETFs jumped by 52.9% to N69.65 billion, highlighting growing interest in diversified and accessible investment products like gold-backed and Shariah-compliant ETFs.

The NGX operates a multi-layered market structure designed to serve different investment needs. At its core is the equities market, complemented by bonds, ETFs, and derivatives. This diversification allows investors to raise capital, hedge risks, and access a range of financial instruments, contributing to a more resilient and sophisticated Nigerian capital market ecosystem.

The surge in market capitalization sets the stage for Nigeria’s capital market to aim for the N300 trillion milestone, largely driven by local investor participation. With continued reforms and investor confidence on the rise, the NGX is poised to strengthen its role as a critical driver of economic growth in 2026.

source: nairametrics