Nigerian Stock Market Surges by N6.8 Trillion in January 2026 on Blue-Chip Demand

In January 2026, the Nigerian stock market witnessed a significant increase of N6.8 trillion, representing a 6.8% rise in market capitalization on the Nigerian Exchange Limited (NGX). This surge was fueled by massive demand for 23 blue-chip companies across various sectors including cement, finance, oil and gas, telecommunications, agriculture, and fast-moving consumer goods.

BUA Food PLC emerged as the top capitalized stock on the NGX, surpassing MTN Nigeria Communications PLC and Dangote Cement PLC. BUA Food PLC declared a profit before tax of N507.73 billion in 2025, marking a 91% increase from the previous year.

Other notable companies contributing to the market growth included Airtel Africa PLC and BUA Cement PLC. Analysts predict continued positive performance in the market, especially for large-cap stocks, driven by favorable sector conditions and ongoing infrastructure investments.