Nigerian Stock Market Leads Global Rally with Record Dollar Gains

The Nigerian Stock Exchange (NGX) opened August with a ₦288.44 billion gain, lifting the All‑Share Index 0.18% to 245,730.53. Selective buying in banking and industrial stocks offset broader market weakness, while market breadth remained negative with 25 gainers versus 39 losers. The most actively traded stocks by volume were ACCESSCORP, HONYFLOUR and STERLINGNG, and by value ARADEL led turnover.

In the first half of 2026, Nigeria’s benchmark index posted a 67% rise in U.S.‑dollar terms, outpacing South Korea’s KOSPI, according to Bloomberg data. The surge was attributed to economic reforms, higher oil prices, improved foreign‑exchange liquidity and a 4% naira appreciation. Insurer Fortis Global Insurance recorded a 1,483% dollar return, and S&P Dow Jones Indices is considering restoring Nigeria to frontier‑market status, which could attract further foreign investment.