Nigeria’s stock market surged to new heights this week as sweeping economic reforms and renewed investor optimism continued to fuel a rally across sectors. The NGX All-Share Index (ASI) rose by 1.50% to close at 153,736.25 points, while the market capitalization added ₦1.45 trillion, hitting ₦97.58 trillion. With a 49.37% year-to-date gain, the market has become one of Africa’s top performers, signaling strong confidence in blue-chip equities.
Market analysts say the rally reflects sustained demand in key sectors, including banking, industrials, oil and gas, and consumer goods, buoyed by reforms that have improved foreign exchange liquidity and stabilized the broader economy. Investor confidence has been further strengthened by the government’s decisive fiscal and monetary coordination, as well as its pro-market agenda aimed at restoring macroeconomic balance.
These policy measures — notably the liberalization of the naira, removal of fuel subsidies, and closer alignment between the Central Bank of Nigeria (CBN) and fiscal authorities — have redefined Nigeria’s economic outlook. The reforms were in focus at the Financial Times Africa Summit 2025 in London, where Temi Popoola, GMD/CEO of the Nigerian Exchange Group (NGX Group), highlighted how coordinated policies have reignited investor trust and market resilience.
Popoola credited the progress to collaboration among financial regulators such as the CBN, Securities and Exchange Commission (SEC), and National Pension Commission (PenCom). He said these efforts have laid “the right foundation for investor confidence and renewed market activity.” The SEC’s Director-General, Emomotimi Agama, also emphasized the role of the Investments and Securities Act 2025, describing it as a cornerstone for market transparency and governance that is helping to “reflate the economy by providing clarity and discipline.”
Meanwhile, trading sentiment remained upbeat, with 32 gainers outpacing 30 decliners. ASO Savings & Loans led the day’s risers with a 10% gain to close at ₦0.55, followed by Skyway Aviation Handling Company (₦99.05, +9.99%) and UPDC Real Estate Investment Trust (₦7.95, +8.16%). In contrast, The Initiates Plc (TIP) declined by 5.73%, while Legend Internet and Royal Exchange shed 5.69% and 4.76%, respectively. Market activity also improved, with 589.49 million shares worth ₦24.01 billion traded in 28,485 deals.
source: Leadership