Nigerian Stock Market Faces Historic N13.29tn Loss in June

In June 2026, the Nigerian stock market recorded a significant loss of N13.29 trillion, marking its worst monthly performance in history. The benchmark share index (ASI) fell by 8.28%, ending a strong rally that had characterized the market earlier in the year.

This downturn, which occurred under the administration of President Bola Tinubu, resulted in a year-to-date return drop of 60% by the end of May, with the market capitalization decreasing from N160.5 trillion at the end of May to N147.2 trillion at the close of June. The decline wiped out approximately N13.29 trillion in shareholder value within a single month.

Despite this setback, the market remained significantly above its opening level for the year, having gained N40 trillion in January. The sell-off was attributed to widespread profit-taking and adjustments related to dividend qualifications across several blue-chip stocks.

Additionally, rising yields in Nigeria's fixed income market prompted institutional investors to rebalance their portfolios.