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 (NGX: DANGSUGAR) led to losses in those companies. Market activities were mainly focused on select counters, with investors cautiously optimistic post the market gains.