Nigerian Stock Market Gains N29.83 Trillion in Q1 2026

In the first quarter of 2026, the Nigerian stock market experienced significant growth, gaining N29.83 trillion. The market capitalization increased from N99.38 trillion at the beginning of the year to N129.21 trillion by March 31, 2026.

This milestone was marked by a surge in investor demand, particularly for stocks like Dangote Cement PLC and MTN Nigeria Communications PLC. The market capitalization surpassed N100 trillion in early January 2026 and crossed N120 trillion in February 2026.

Temi Popoola, Managing Director and Chief Executive Officer of the Nigerian Exchange Group, described this growth as a sign of increasing confidence in Nigeria's capital market, supported by ongoing reforms and improved corporate fundamentals. The NGX share index rose by 29.35 percent, reflecting strong performance across various sectors, with the oil and gas index leading with a 64.22 percent year-to-date return.

Analysts noted that the bullish momentum was driven by strong fundamentals, particularly in the manufacturing sector, and a shift in investor preference towards equities amid declining real returns on fixed-income instruments.