Nigerian Stock Market Sees 1% Decline in September Opening

The Nigerian stock market opened September on a low note with a 1% depreciation led by banks, industrial, and oil & gas stocks. The Nigerian Exchange Limited (NGX) closed with the All-Share Index (ASI) decreasing, resulting in a loss of N528 billion in market capitalization.

The banking, industrial, and oil & gas sectors experienced the most significant declines. Tanimu Yakubu from the Budget Office highlighted the strengthening of the naira due to reforms and increased oil earnings.

The naira appreciated to Naira 415 per dollar in August 2025. This market downturn reflects the challenges faced by various sectors in the Nigerian economy.