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Nigeria market rebound and investor surge

Updated 2 times since CLSTR started tracking revisions of this situation.

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2026-07-27 02:09 UTC → 2026-07-27 08:39 UTC · added ~~removed~~

The Nigerian equities market rebounded sharply in late July, with the NGX All‑Share Index climbing 1.6 % to 247,357 points and turnover hitting N8.4 trillion in H1 2026 – a 176 % year‑on‑year rise driven by pension‑fund reforms and strong domestic participation. Banking led the next wave of activity. First Holdco Plc, the holding company of First Bank of Nigeria, reported pre‑tax profit up 83.5 % to N653.5 bn and net profit up 81.6 % to N526.1 bn in the first half, pushing its share price from N69 to about N120 and making its market capitalisation the largest among Nigerian banks at over N5.5 trn. Across the exchange, investors traded roughly N1.25 trn in the seven major banks, with Zenith Bank attracting the highest transaction value (≈N458 bn) followed by GTCO (≈N220 bn). The broader market saw N6.86 trn of Treasury‑bill, bond and sukuk activity, OMO bills accounting for the biggest slice (N3.36 trn). Nigerian Exchange Group Plc announced an interim dividend of N1.30 per share after PBT rose 170 % to N14.76 bn. Meanwhile, the average maximum lending rate slipped to 33.16 % in June, reflecting modest easing after the central bank held its policy rate steady. These developments reinforce the view that heightened domestic investor engagement is underpinning market stability and reducing reliance on volatile foreign flows. In early August, NGX Group disclosed a record H1 2026 profit, with revenue up 118 % to N17.6 billion and profit after tax climbing 146 % to N10.36 billion. Transaction fees surged 169 % to N13.34 billion and listing fees rose 59 %. The board approved an interim dividend of N1.30 per share, amounting to about N3.4 billion. The All‑Share Index reached 247,357.40 points and market capitalisation hit N159.588 trillion.

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