Nigerian Market Loses N1.67 Trillion Amid Sell-Off

On September 9, 2026, the Nigerian equities market faced continued pressure as the benchmark All-Share Index (ASI) fell by 1.05%, closing at 242,223.10 points and erasing approximately N1.67 trillion in market capitalization. This decline followed a steep loss of N1.88 trillion the previous day, bringing the total market capitalization loss over two days to N3.55 trillion.

The ASI is now down 5,476.68 points from a high of 247,699.78 points on Monday. The sell-off was largely attributed to significant declines in heavyweight stocks such as BUA Cement, which dropped 10.00% to N278.10.

Despite the overall downturn, Champion Breweries saw a 9.90% increase. The market breadth remained weak, with only 11 stocks advancing against 44 decliners.

Trading volumes decreased by 29.04% to 534.45 million shares, with a turnover value of N22.28 billion. The upcoming Dangote Refinery IPO subscription window, opening on September 14, is influencing investor behavior.