Nigerian Capital Market Sees N1.2 Trillion Listings in Q1 2026

In Q1 2026, the Nigerian capital market achieved N1.2 trillion in new listings, primarily fueled by substantial federal and state bond issuances. The federal government bonds, including sukuk instruments, accounted for N317 billion, while Lagos State government bonds contributed N244.8 billion.

The corporate sector raised N642.7 billion, driven by banks and manufacturing firms striving to meet new minimum capital thresholds set by the Central Bank of Nigeria. Notable issuances included a N300 billion FGN road sukuk and Presco's N236.67 billion rights issuance.

The banking sector remained dominant, with significant contributions from GTCO, which raised N251.6 billion, and UBA, which raised N157.8 billion. The quarter also saw Dangote Cement issue N119.9 billion in commercial paper.

Temi Popoola, Group Managing Director of the Nigerian Exchange, highlighted the exchange's evolution into a technology-driven capital mobilization hub, supporting public and private sector financing needs. The market's performance is expected to build a strong foundation for 2025.