Nigerian Stock Market Gains N58.9trn in Seven Months

In the first seven months of 2026, Nigeria's stock market appreciated by N58.97 trillion, reflecting growing investor confidence in the Nigerian Exchange Limited (NGX). As of July 31, 2026, the market capitalization of listed stocks closed at N158.326 trillion, a 59.32% increase from N99.376 trillion in 2025.

MTN Nigeria Communications Plc reported a revenue of N2.99 trillion for the first half of 2026, marking a 25.9% year-on-year increase. Major contributors to the market capitalization included Airtel Africa Plc at N21 trillion, MTN Nigeria at N17.57 trillion, and Dangote Cement Plc at N17.45 trillion.

The NGX All Share Index closed at 245,283.68 basis points, up 57.6% from the previous year. Factors influencing this growth included stability in the foreign exchange market, a retained interest rate of 26.50% by the Central Bank of Nigeria, and strong earnings from listed companies.

The oil and gas index was the best-performing segment, with a year-to-date return of 96.3%.