Nigeria Stock Market Gains N9.3 Trillion in One Week

The Nigerian stock market experienced a significant gain of N9.3 trillion within one week, reflecting a 6.4% increase, as foreign investor confidence was renewed following S&P Dow Jones Indices' decision to place Nigeria on its Frontier Watchlist for potential reclassification in 2027. The market capitalization of the Nigerian Exchange (NGX) closed at N156.547 trillion.

The NGX share index also saw a rise, closing the week at 243,798.76, marking a growth of 6.35%. Key sectors such as industrial goods, banking, and oil and gas recorded substantial gains, with the NGX industrial goods index increasing by 10.46%.

Aruna Kebira, Managing Director and CEO of Globalview Capital Limited, indicated that investors are positioning themselves ahead of the second quarter earnings report due by June 30, 2026. Additionally, Nigeria's external reserves rose to $51.74 billion as of July 9, 2026, reflecting a steady improvement in the country's foreign exchange inflow and overall external position.