Nigerian Stock Market Gains N6.7 Trillion in January Amid Oil Price Surge
The Nigerian stock market closed the first month of 2026 with a significant gain of N6.7 trillion, driven by a surge in oil prices to $71.01 per barrel. The Nigerian Stock Exchange (NGX) saw its market capitalization rise to N106.153 trillion, up from N99.376 trillion at the end of December 2025.
The NGX All-Share Index (ASI) also increased by 6.3% to 165,370.50 points. Notably, the positive market performance was underpinned by expectations of improved earnings from companies for the full year 2025.
However, specific profit-taking actions on some stocks like MTN and Dangote Sugar led to losses in those companies. Market activities were mainly focused on select counters, with investors cautiously optimistic post the market gains.
Plus234Feed summary based on reporting from Uhurutimes. Read the original report below.
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