Nigeria's stock market sees surge in domestic investor participation

The Nigerian Exchange (NGX) posted a strong week, with the All‑Share Index gaining 1.6% to 247,357.40 points and market capitalisation rising by roughly N2.53 trillion to N159.59 trillion. Trading activity increased markedly, with investors exchanging 4.43 billion shares worth N306.31 billion across 255,945 deals. A separate session later saw a modest decline, the market capitalisation falling 0.19% to N159.587 trillion and the index slipping 474 basis points, yet the overall year‑to‑date return remained near 59%. Domestic investors dominated trading, accounting for about 80% of market participation. In the first half of 2026 they traded N8.4 trillion in stocks—up 176% from the same period in 2025—driven by reforms from the National Pension Commission that raised equity limits for pension funds. Sam Chidioka, Group Managing Director of Anchoria, said, “Domestic investors now control about 80% of the market, improving stability and reducing reliance on hot foreign money.” The surge lifted market capitalisation by N47.84 trillion, buoyed by gains in banking, consumer goods, industrial and oil & gas sectors.