Nigeria’s equity market continues to shine as a relative safe haven, extending its gains even as global tensions rise. According to the latest weekly newsletter on African markets, the NGX All Share Index (ASI) increased 2.15% last week, bringing its year-to-date gain to 26.58% in local currency. For international investors, the market has surged more than 31% in U.S. dollar terms this year, boosted by currency stabilization and renewed interest in Nigerian assets.
While Nigeria’s market remained resilient, other African exchanges experienced significant declines. Heightened geopolitical uncertainty, particularly military escalation involving Iran, drove investors toward safer assets. Kenya’s NSE All Share Index fell 3.55%, Tanzania’s DSE All Share Index dropped 4.31%, and Egypt’s EGX 30 slipped 3.45%. Namibia and Morocco saw even steeper declines, with the NSX Overall Index down 10.41% and Morocco’s MASI Index falling 5.75%.
The divergence in African markets underscores Nigeria’s growing appeal for investors. Policy adjustments, currency reforms, and improved liquidity have helped restore confidence in the country’s financial assets. Key sectors, including banking and consumer goods, drove much of the rally, reflecting broader optimism about Nigeria’s domestic economic recovery.
Corporate developments also kept Nigeria in the spotlight. The Nigerian Exchange Group placed five companies on a delisting watchlist, while three others entered the final stage of delisting. These actions highlight ongoing efforts to improve governance standards and ensure compliance among publicly traded firms, reassuring both domestic and foreign investors.
Despite ongoing volatility in global markets, Nigeria remains one of Africa’s top-performing bourses in 2026. Alongside Ghana, Tanzania, and Zimbabwe, the country is attracting international investors seeking exposure to frontier markets with strong growth potential. With its stock market continuing to deliver robust returns in dollar terms, Nigeria is positioned as a resilient investment destination in an increasingly uncertain world.
source: The sun