Dangote Cement Drives Nigerian Stock Market Surge
On October 27, 2026, the Nigerian stock market continued its upward trend, achieving a record market capitalisation of N164.91 trillion. This marked an increase of N1.75 trillion from the previous day's total of N163.16 trillion.
The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 2,699.52 points, reaching a new peak of 253,990.06 points, which represents a daily gain of 1.07%. The rally was notably supported by Dangote Cement, whose share price increased by 9.80% to close at N1,341.90 per share.
Trading activity saw a sharp increase, with 5.23 billion shares exchanged in 35,882 deals, a significant rise from 329.51 million shares traded the day before, reflecting an increase of 1,487.21%. Despite the surge in trading volume, the total number of deals decreased by 17.79% from 43,647 on Monday.
Additionally, between Tuesday and Friday, Nigeria's wealthiest businessmen, including Aliko Dangote, Abdul Samad Rabiu, and Femi Otedola, collectively added $1.7 billion to their fortunes.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
Read full article
Continue on Legit.ng
Get the week in one email
Top stories, NPFL results, the naira, every Friday morning. Free, one email a week.
Related Stories
Nigeria Leads Sub-Saharan Africa in Crypto Adoption
NCGC Secures N64 Billion Loans for 174,495 Nigerians
Nigerian Businesswoman Defends APC Fabric Printing Job
GTCO Reports 2.32% Drop in Pre-Tax Profit for 2026
Grenada Offers Visa-Free Access to Nigerian Entrepreneurs
Naira Surges N8 Against Dollar, Closing at N1,357/$
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
