Nigerian Stock Market Grows N60.58 Trillion YoY Amid Optimism
• This Day • Business
The Nigerian stock market has shown remarkable growth, adding N60.58 trillion year-on-year, which represents a 52.6% increase. As of March 2025, the overall market capitalization is expected to reach N175.8 trillion, with the stock market alone projected to grow to N130 trillion. This growth is attributed to stabilizing foreign exchange markets, recovery from foreign exchange losses, and increased domestic investor participation. Temi Popoola, the Group Managing Director and Chief Executive Officer of the Nigerian Exchange Group, highlighted this milestone as a sign of growing confidence in Nigeria's capital market. The Central Bank of Nigeria's monetary policy and corporate earnings from major companies like MTN Nigeria Communications PLC and Nigerian Breweries PLC have played a pivotal role in this growth. Analysts, including David Adonri, emphasize the need for stable economic policies to sustain this momentum, while the market outlook remains cautiously optimistic amid ongoing reforms and the upcoming half-year earnings season.
Topics: Business, Markets