The Nigerian stock market has surged to a historic valuation of about N140 trillion, driven by renewed interest from global investors following Nigeria’s reclassification back to Frontier Market status. The rally has added roughly N10 trillion in market value in just days, reflecting a strong wave of confidence returning to the equities space.
Market data shows that the All Share Index climbed from 202,584.88 points on April 8 to 217,167.57 points by April 17, while market capitalisation rose to N139.826 trillion. This growth marks eight consecutive days of positive performance, signalling sustained bullish sentiment across the market.
According to the Group Managing Director and CEO of the Nigerian Exchange Group, Temi Popoola, the rally reflects stronger market fundamentals, improved liquidity, and growing domestic participation. He added that Nigeria’s renewed global visibility is helping to attract more diversified capital inflows from international investors.
Analysts note that the reclassification is already influencing trading patterns, especially in large-cap and highly liquid stocks. Banking giants such as GTCO and Zenith Bank have recorded strong volumes, while energy stocks like Seplat Energy and Aradel Holdings continue to benefit from investor demand and strong sector fundamentals. Consumer stocks including Nestlé and Guinness Nigeria have also seen increased buying activity as investors position for a consumption recovery.
Market experts expect the bullish momentum to continue ahead of the September 21, 2026 effective date for Nigeria’s Frontier Market status. With global index funds expected to increase exposure to Nigerian equities, analysts say the country’s stock market could experience further re-rating, especially in banking, telecoms, cement, and energy sectors.
source: Business day