Nigerian Exchange Sees Growth Amid FTSE Reclassification
• Punch Newspapers • Business
The Nigerian Exchange exhibited notable resilience during the trading week ending April 10, 2026, despite a shortened four-day session due to the Easter public holiday. The market was buoyed by investor confidence following the landmark announcement by FTSE Russell, which officially reclassified Nigeria from a frontier market to an emerging market status, effective September 2026. This change reflects improvements in foreign exchange liquidity and the resolution of previous repatriation bottlenecks, combined with easing inflationary pressures and a recent 50 basis point cut in the monetary policy rate. The share index appreciated by 1.03%, closing at a time high of 203,770.43 points, while total market capitalization climbed to ₦131.166 trillion. The financial services industry maintained its dominant position, accounting for 68.54% of total equity turnover. Access Holdings Plc, Wema Bank Plc, and Guaranty Trust Holding Company Plc were the primary drivers of liquidity. Additionally, Access Holdings Plc listed an additional 1.057 billion ordinary shares following a successful private placement. The regulatory body delisted DN Tyre Rubber Plc and Greif Nigeria Plc due to persistent operational issues. Analysts expect the FTSE upgrade to catalyze increased foreign portfolio inflow, projecting it to reach ₦1.40 trillion by 2025.
Topics: Business, Markets