Investors in Nigeria’s stock market enjoyed a substantial boost in February 2026, with gains totaling N17.5 trillion as equities hit new highs. The sustained bullish sentiment reinforced confidence in the Nigerian Exchange Limited (NGX) and reflected growing optimism in the country’s capital market. Market capitalization rose sharply by 16.5 per cent, climbing from N106.2 trillion at the end of January to N123.7 trillion by the close of February.
The NGX all-share index mirrored this upward trend, gaining 27,456.38 points, or 16.6 per cent, to reach 192,826.78 points. Analysts noted that this performance marked one of the strongest monthly gains in recent times, signaling a continuation of the market’s positive trajectory in 2026. The rally was driven by broad-based gains across major sectors, including banking, consumer goods, industrials, and energy, reflecting strong price appreciation.
Experts attributed the surge to renewed foreign portfolio interest, portfolio rebalancing at the start of the year, and heightened anticipation of 2025 full-year corporate results. Investor sentiment was further buoyed by reports of strong financial turnarounds among listed companies, reinforcing confidence in fundamentally sound and dividend-paying stocks.
Several major firms released impressive 2025 results that underpinned market optimism. MTN Nigeria Communications Plc reported a remarkable recovery, posting a pre-tax profit of N1.7 trillion in 2025, up from a loss of N550.3 billion in 2024. Lafarge Africa Plc recorded a 53 per cent rise in revenue to N1.1 trillion, with profit after tax jumping 173 per cent to N273 billion. Seplat Energy Plc also saw revenue surge to $2.726 billion, supported by contributions from offshore assets, alongside a healthy dividend increase.
Trading activity throughout February reflected strategic positioning by investors seeking long-term value and dividend income. Analysts believe that the combination of corporate earnings growth, foreign interest, and investor confidence will likely sustain the bullish trend in the Nigerian stock market for the coming months, making it an attractive period for both institutional and retail investors.
source: The Guardian