Nigerian Exchange Limited Reports 60.53% Market Surge

Nigeria's stock market is on track for its highest annual return in nearly 19 years, with a remarkable 60.53% year-to-date surge, second only to the 2007 bull run. This performance is linked to FTSE Russell's reclassification of Nigeria from 'Unclassified' to 'Frontier Market' status, reflecting renewed international confidence following significant foreign exchange liquidity reforms.

The All-Share Index (ASI) reached 249,804.56 points on September 18, 2026, with market capitalization exceeding N162 trillion. Key sectors driving this growth include NGX Oil & Gas (+125.94%), NGX Industrial Goods (+81.57%), and NGX Banking (+74.22%).

Jude Chiemeka, CEO of Nigerian Exchange Limited (NGX), stated that the market's strength indicates growing investor confidence in Nigeria's economy and capital market. He emphasized the need for transparency and accessibility to support capital formation.

The market has also seen a 2.30% rise month-to-date and a 2.78% increase in the week leading to September 18, driven by institutional stock accumulation and improved market accessibility.