The Nigerian Exchange Limited (NGX) facilitated capital raising worth ₦4.63 trillion in the first half of 2025, marking a significant leap in Nigeria’s capital market performance. The funds, sourced from sovereign and corporate instruments, have been instrumental in financing large-scale infrastructure, fostering innovation, and driving business expansion across critical sectors. A core driver of this momentum is NGX Invest, a digital platform introduced in 2024, which has significantly simplified access to public offerings and broadened investor participation.
Since its inception, NGX Invest has become central to Nigeria’s capital mobilisation strategy. The platform has expanded the reach of primary market instruments, with notable impact in the banking sector’s recapitalisation, contributing over ₦2 trillion. As a result, investor inclusivity has deepened, with retail and institutional stakeholders gaining greater exposure to public investment opportunities.
The NGX’s performance indicators underscore this progress. Total market capitalisation rose by 16% from ₦112.6 trillion in January to ₦126.73 trillion in June 2025. Equity market capitalisation jumped from ₦62.76 trillion to ₦75.95 trillion, while the fixed-income segment held steady at ₦50.56 trillion. ETFs gained traction among retail investors, growing to ₦25.79 billion, reflecting the growing appeal of diversified and accessible investment options.
Temi Popoola, Group MD/CEO of NGX Group, attributed the growth to a collaborative regulatory approach and enhanced market transparency. Working closely with the Securities and Exchange Commission (SEC), the NGX has focused on strengthening investor protections and expanding product offerings. Popoola reaffirmed NGX’s goal of building a globally competitive, inclusive, and resilient market aligned with Nigeria’s economic ambitions.
Beyond domestic borders, NGX is accelerating regional and international integration. A strategic investment in the Ethiopian Securities Exchange and active discussions with the Shanghai and Hong Kong Stock Exchanges for dual listings signal a drive toward deeper global investor participation. Market analysts, including David Adonri of Equity Capital Solution Ltd, credited a stabilised macroeconomic environment and improved forex conditions for boosting foreign portfolio inflows, with 13.6% of the 16.6% equity growth occurring in Q2 alone.
Source: The Guardian