Oil & Gas Index Soars 133.94% YtD on NGX by September 2026

As of September 30, 2026, the Oil & Gas Index on the Nigerian Exchange Limited (NGX) recorded a 133.94% Year-till-Date (YtD) return, making it the best-performing index on the exchange. This performance nearly doubled the NGX All Share Index, which stood at 61.43% YtD.

The index tracks listed upstream, downstream, and integrated energy companies and has benefited from stock-specific rallies, oil market fundamentals, policy reforms, and macroeconomic dynamics. The ongoing US–Israel military campaign against Iran, which began in February 2026, has disrupted maritime flows through the Strait of Hormuz, leading to increased global energy prices and heightened demand for the US dollar.

Analysts from Cordros Research predict that energy markets will remain tight, keeping oil prices elevated around $90.00 per barrel in the near term. Seplat Energy Plc's stock price surged by 175.44% YtD, closing at N16,000.10 per share, reflecting strong investor demand and a significant rally since the start of 2026.