Nigeria stocks hit fresh record as $107 billion market extends one of world’s top rallies

Nigeria’s stock market closed at another record on Friday, extending one of the world’s strongest equity rallies this year as gains in banking and industrial shares lifted the Nigerian Exchange Limited’s total value to N145.3 trillion ($107.2 billion).

The benchmark NGX All-Share Index rose 1.3% to 225,724.33 points, taking gains to 3.94% over the past week, 12.34% over the past month, and 45.05% year-to-date.

A total of 627.4 million shares worth N44.39 billion ($32.7 million) were traded in 55,081 deals. Compared with the previous session, turnover rose 17%, while trading volume fell 6%.

Nigeria has become one of the standout frontier markets of 2026, helped by stronger corporate earnings, bank recapitalisations, domestic pension-fund demand and investor bets that economic reforms will improve long-term growth.

Banking shares dominated volumes, with Access Holdings, United Bank for Africa, Wema Bank and Zenith Bank among the most actively traded stocks.

Investors are now watching whether the market can cross the N150 trillion ($110.6 billion) milestone in coming sessions.

By Ayodeji Adegboyega, Business Insider Africa