Nigerian Stock Market Gains N6.79 Trillion on PenCom Policy

The Nigerian stock market advanced by N6.79 trillion week-over-week, closing at a market capitalization of N117.027 trillion, following the Pension Commission's (PenCom) decision to raise equity limits for pension funds. This new policy, effective from February 9, 2026, allows for increased equity allocations across various Retirement Savings Accounts (RSA) funds.

Specifically, RSA Fund I increased from 30% to 35%, RSA Fund II from 25% to 33%, RSA Fund III from 10% to 15%, and RSA Fund VI from 25% to 33%. The NGX share index rose by 6.16% week-over-week, reflecting a positive market breadth with 79 advances against 27 declines.

Zichi Agro and Allied Industries led the gainers, while Abbei Mortgage Bank and Sovereign Trust Insurance experienced significant declines. The total turnover was 4.652 billion shares worth N193.326 billion, with the financial services industry leading in activity.

Analysts expect the market to maintain its positive momentum, supported by improved liquidity from the pension fund equity allocation review.