Nigeria’s equities market recorded a strong performance in the first quarter of 2026, with investors gaining over ₦29 trillion, driven by ongoing economic reforms and renewed market confidence.
The total market capitalisation on the Nigerian Exchange Limited (NGX) rose significantly to ₦129.2 trillion by the end of March, compared to ₦99.4 trillion at the beginning of January. This sharp increase reflects sustained investor interest and improved liquidity in the market.
Similarly, the NGX All Share Index (ASI), a key benchmark for measuring stock market performance, climbed by 29.4 percent to close at 201,287 points, up from 155,613 points recorded at the start of the year. The index has remained above the 200,000 mark since March, reinforcing it as a strong support level and indicating continued bullish momentum.
On a month-by-month basis, investors gained ₦6.77 trillion in January, ₦17.61 trillion in February, and ₦5.45 trillion in March. Despite minor fluctuations during the period, the overall trend remained positive, supported by strong corporate earnings and consistent institutional participation.
Market analysts attribute the rally to improved macroeconomic conditions and investor optimism around policy reforms. Select blue-chip stocks continued to attract significant capital inflows, helping sustain the upward trajectory even amid intermittent profit-taking.
Global factors also played a role, particularly the rise in oil prices. Brent crude climbed above $117 per barrel in March amid geopolitical tensions in the Middle East. As a major oil exporter, Nigeria benefits from higher oil prices through increased foreign exchange earnings, although inflationary pressures persist.
In recent trading, the market maintained its positive momentum, supported by gains in major stocks such as MTN Nigeria Communications Plc and PZ Cussons Nigeria Plc, which recorded notable share price increases.
Overall market activity also improved, with both trading volume and value rising significantly, indicating sustained investor participation and confidence in the Nigerian equities market.
