Nigeria's Stock Market Achieves 75.5% Return in 2026

Nigeria's stock market has been recognized as Africa's best-performing equities market in dollar terms for the first nine months of 2026, achieving a remarkable 75.5% year-to-date return, according to data from THISDAY. This performance surpasses the Zimbabwe Stock Exchange's 64.75% return and positions the Nigerian Exchange (NGX) favorably as the continent's equity markets approach the final quarter of the year.

The market capitalization of listed equities on the NGX increased by N63.73 trillion, a 64.13% rise, from N99.376 trillion at the beginning of 2026 to N163.105 trillion by September 30. The NGX All-Share Index also rose by 95,598.64 points, a 61.43% gain in naira terms.

Factors contributing to this growth include improving macroeconomic conditions, ongoing economic reforms, firmer oil prices, and enhanced foreign exchange liquidity. Despite this success, investment banker Tajudeen Olayinka noted some moderation in the market's performance in the latter part of the year, suggesting that the final quarter will be crucial for maintaining momentum.