NGX Reports N1.51 Trillion Raised in Commercial Paper Market

The Nigerian Exchange Limited (NGX) released its third quarter (Q3) 2026 Commercial Paper Market Report, indicating that the market raised N1.51 trillion across 131 series by 60 issuers in the first nine months of 2026. Of this total, seven series valued at N216.1 billion have been listed on NGX.

In Q3 alone, N506.4 billion was raised across 46 new series from 28 issuers, with agriculture accounting for the largest share at N226.2 billion. Year to date, agriculture led issuance with N512.7 billion raised from January to September.

The listed series include issuances from Dangote Cement Plc, NGN Gram Limited, MeCure Industries Plc, Coleman Technical Industries Limited, and Advans La Fayette Microfinance Bank Limited. Jude Chiemeka, CEO of NGX, emphasized the opportunity for expanding short-term financing through the commercial paper market.

Market conditions evolved, with a decline in the 364-day Treasury bill stop rate and a reduction in the Monetary Policy Rate by the Central Bank of Nigeria. The report anticipates that lower benchmark yields could influence CP pricing in Q4.