Nigerian Stocks Surge ₦239bn After FTSE Russell Inclusion

The inclusion of 31 Nigerian stocks in the FTSE Russell Frontier Index Series has revitalized investor interest in the Nigerian equities market, resulting in a ₦239 billion increase in the Nigerian Exchange Limited's market capitalization. As of the close of trading on Thursday, the market capitalization rose to ₦159.153 trillion, reflecting a 0.15 percent increase from ₦158.914 trillion in the previous session.

The All-Share Index also advanced by 369.05 points, closing at 246,388.22 points. This development follows FTSE Russell's confirmation of the eligibility of these stocks across large-cap, mid-cap, and small-cap categories.

Nigeria is set to return to Frontier Market status on September 21, 2026, after being in the Unclassified category for three years. Ten companies, including Dangote Cement Plc and MTN Nigeria Communications Plc, were classified as large-cap stocks.

The review aims to enhance the visibility of Nigerian companies to international investors. Despite the market gain, trading sentiment was mixed, with 34 equities recording losses.