NGX is reaching a historic milestone.
As of December 24, 2025, total market capitalisation hit ₦149.88 trillion, bringing the market close to the ₦150 trillion mark.
Behind these figures, investors, companies, and regulators drove resilience, reforms, and growing confidence.
NGX Hits Historic Milestone
Chairman of NGX Group, Dr Umaru Kwairanga, is setting an ambitious agenda for 2026.
He aims to make the market more competitive, liquid, and globally aligned.
In his review, “2025 Capital Market Review and a Forward-Looking Agenda for 2026,” he shared his clear vision for the coming year.
2025 Performance And Growth Drivers
Looking back, 2025 marked a landmark year.
Regulatory reforms, bank recapitalisation, and rising investor participation lifted the market to new heights.
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Equities alone contributed ₦98.89 trillion, powered by strong performances in banking, consumer goods, industrials, and telecoms.
Moreover, the NGX All-Share Index climbed 49.17%, ranking Nigeria among Africa’s top-performing exchanges.
Domestic investors drove trading, while foreign investors contributed 20–21% despite foreign exchange challenges.
At the same time, new listings and equity issuances raised about ₦6.34 trillion in the primary market.
2026 Agenda And Market Outlook
Kwairanga stresses that 2026 must build on these gains.
He urges investors and issuers to adopt long-term, diversified strategies and embrace ESG principles to attract global capital.
Similarly, he calls on regulators to harmonise tax and foreign exchange policies, improve settlement efficiency, and support innovative products like derivatives and ETPs.
At the same time, market operators must invest in infrastructure, technology, and ongoing investor education.
Furthermore, Kwairanga highlights that transparency, market integrity, and strong enforcement will maintain trust.
With coordinated action among investors, regulators, and operators, Nigeria’s capital market can grow deeper, more inclusive, and globally competitive.
He concludes that 2025’s achievements are only the beginning.
If reforms continue and collaboration strengthens, 2026 could become a landmark year for NGX—and Nigeria’s role in global finance.
