NGX Oil & Gas Index Achieves 96.80% Growth YTD

As of July 10, 2026, the NGX Oil & Gas Index recorded a remarkable year-to-date growth of 96.80%, establishing itself as the best-performing index on the Nigerian Exchange (NGX). This growth nearly doubled the overall NGX major index, which reported a 56.67% year-to-date increase.

The NGX Industrial Index followed with an 88.73% growth, while the NGX Banking Index and Insurance Index reported 41.78% and 4.74% growth, respectively. The Insurance Index, however, faced challenges due to negative investor responses to poor earnings and recapitalization concerns, delivering a return of 107.74% in 2024.

Key contributors to the Oil & Gas Index's performance included Aradel Hold Plc, which saw a 128% increase in stock price, and Japaul Gold Venture Plc, which grew by 40.3%. Other notable stocks included Conoil and Eterna, with gains of 12.2% and 1.05%, respectively.

Mr. David Adnori of Highcap Securities Limited attributed the index's performance to recent reforms in the oil and gas sector and impressive corporate earnings.