The Nigerian Exchange (NGX) achieved a historic milestone on Monday as its market capitalisation surged past the N100tn mark, closing at N101.80tn.
The increase from N99.94trn recorded on January 2 represents a gain of N1.87trn, reflecting a strong start to the year for Nigeria’s equities market.
The rally was mirrored in the All-Share Index (ASI), which appreciated by 1.74 per cent, rising 2,725.86 basis points from 156,492.36 to 159,218.22. This performance pushed both month-to-date and year-to-date returns to 2.32 per cent, signaling renewed investor confidence.
Market analysts attributed the surge to the traditional “January Effect,” a period marked by increased buying activity in the early trading sessions of the year.
Stocks such as Cadbury Nigeria, Fidson Healthcare, and Champion Breweries drove much of the gains, attracting strong demand across consumer, industrial, and banking sectors.
Investor sentiment strengthened significantly during the session, with market breadth improving to 9.13 times as 73 equities recorded gains against only eight decliners, indicating widespread participation in the rally.
Commenting on the milestone, Group Managing Director and Chief Executive Officer of the Nigerian Exchange Group,Temi Popoola described the development as a defining moment for the Nigerian capital market.
“The equities market capitalisation crossing the N100trn mark is a clear signal of renewed investor confidence as the year begins. It reflects the market’s growing depth, resilience, and ability to respond positively to improving macroeconomic conditions and structural reforms,” Popoola said.
He further noted that sustained collaboration between market stakeholders and regulators had strengthened market credibility.
“Closer alignment between market operators, policymakers, and the Securities and Exchange Commission over the past two years has enhanced transparency, liquidity, and investor protection, reinforcing the Exchange’s role in mobilising long-term capital for economic growth,” he added.
CEO of Nigerian Exchange Limited, Jude Chiemeka highlighted that selective demand across key sectors also supported the rally.
“The breadth of the market tells a positive story. We are seeing strong participation across banking, industrial, and consumer stocks, alongside rising trading volumes, which suggests growing investor confidence and a more active market at the start of the year,” Chiemeka said.
Trading activity was mixed during the session. Total volume traded rose by 58.13 percent to 695.64 million shares, while the value of transactions declined by 25.57 per cent to N18.57bn across 56,606 deals.
The exchange reported that year-to-date equities turnover had increased to N43.52bn, reflecting active market engagement among investors.
The milestone underscores Nigeria’s equities market resilience and the growing attractiveness of the country’s capital market to both domestic and international investors.
Analysts believe that sustained investor participation, coupled with ongoing regulatory reforms, will continue to support market growth throughout the year.
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