Seplat Energy Drives Nigerian Stocks Up by 10%

On September 3, 2026, the Nigerian equities market experienced a bullish trend, with the NGX All-Share Index (ASI) increasing by 0.15% to close at 246,388.22 points, up from 246,019.17 points. This positive movement was largely attributed to a 10% surge in Seplat Energy's stock, which closed at N13,552.60, up from N12,320.60.

The market capitalization rose by approximately N238.37 billion, reaching N159.15 trillion, while the year-to-date return improved to 58.33%. Despite this headline gain, overall investor sentiment remained negative, with more stocks declining than gaining.

NASCON Allied Industries was the largest decliner, falling 8.03% to close at N161.40. The Oil & Gas Index was the strongest sector, gaining 2.22% to close at 5,594.51 points, driven by Seplat's performance.

Trading volume increased by 1.68% to 434.02 million shares, with a turnover value of N29.30 billion. The market's upward trajectory is expected to continue, supported by investor confidence and the FTSE Russell's inclusion of large-cap stocks.