NGX Market Capitalization Surges N63.73 Trillion in 2026

The market capitalization of listed stocks on the Nigerian Exchange Limited (NGX) increased by N63.73 trillion in the first nine months of 2026, closing at N163.105 trillion on September 30, 2026, up from N99.376 trillion at the start of the year. This represents a 64.13% gain, with the NGX All Share Index rising by 95,598.64 basis points or 61.43% Year-to-Date, closing at 251,211.67 basis points.

The growth was attributed to foreign exchange reforms, renewed investor confidence, and impressive corporate earnings. The NGX also returned to FTSE Russell's Frontier Market status on September 21, 2026, which contributed to a N5.37 trillion increase in market value in September alone.

Market analysts, including Mr. David Adonri from Highcap Securities, noted that improving macroeconomic conditions and rising crude oil prices were key drivers. The market is expected to remain positive into Q4 2026, bolstered by the upcoming N2.1 trillion Initial Public Offer (IPO) of Dangote Refinery.