Nigerian Stocks Outperform Inflation in April 2026

In April 2026, the inflation rate in Nigeria rose to 15.69%, up from 15.38% in March, as reported by the National Bureau of Statistics. Despite this inflationary pressure, over 30 stocks on the Nigerian Exchange delivered returns exceeding the inflation rate.

Notably, eight stocks surpassed the inflation rate but remained below a 20% return threshold. Stocks such as MTN Nigeria (20.39%), Airtel Africa (21.00%), and BUA Foods (21.18%) showed moderate performance, while others like Wema Bank (31.35%) and Zenith Bank (36.22%) demonstrated stronger gains.

The overall market delivered a return of 20.36%, with the NGX share index advancing to 201,287.9 points, marking a significant increase in market capitalization to N155.9 trillion. This growth was attributed to robust individual stock performances despite the challenging inflationary environment, with a total of 16 billion shares traded during this period.