- Nigeria’s equities market opened 2026 on a positive note, pushing market capitalisation close to the N100 trillion mark
- The rally was driven by renewed buying interest and optimism after a strong 2025 performance, despite holiday-thinned trading
- FTN Cocoa, Deap Capital and ABC Transport led the gainers, while Abbey Mortgage Bank and FCMB declined
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s equities market began 2026 on a positive footing as renewed buying interest lifted market capitalisation close to the N100 trillion milestone on the first trading day of the year.
The NGX All-Share Index (ASI) advanced by 0.57% or 879.40 points to close at 156,492.40 on Friday, while total market capitalisation rose to about N99.9 trillion.
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Photo: Bloomberg
Source: Getty Images
Stocks opened the year higher in holiday-thinned trading as investors positioned for a year expected to test market sentiment amid the implementation of Nigeria’s new tax laws, which took effect on January 1, 2026.
Market analysts at Meristem said equities remain attractive in 2026, supported by reforms and improving macroeconomic fundamentals.
The analysts said:
“The Nigerian equities market delivered strong performance in 2025, outperforming other local asset classes on the back of better macroeconomic conditions, stronger earnings, higher dividends and increased foreign participation.
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“We remain constructive on equities in 2026, supported by ongoing reforms, improved investor confidence and favourable yield dynamics.”
Market performance
The positive start to 2026 followed a strong close to 2025, when Nigeria’s capital market ranked among the best-performing globally.
Trading on the Nigerian Exchange Limited (NGX) ended on December 31, 2025, with equities recording broad-based gains driven by reforms, rising liquidity and stronger investor participation.
NGX Group Chief Executive Officer, Temi Popoola, said the exchange remains focused on deepening market development and strengthening Nigeria’s position as Africa’s preferred exchange hub.
He added that the Group would prioritise collaboration with regulators, issuers and market operators, while continuing investments in technology to expand access.
Photo: AFP
Source: Getty Images
Snapshot of the market
Top gainers
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- FTN Cocoa Processors rose from N5.00 to N5.50, gaining N0.50 (+10.00%).
- Deap Capital advanced from N1.90 to N2.09, up N0.19 (+10.00%).
- MBENEFIT climbed from N3.10 to N3.41, adding N0.31 (+10.00%).
- ABC Transport gained from N4.10 to N4.51, up N0.41 (+10.00%).
- Alex Plc increased from N21.65 to N23.80, rising N2.15 (+9.93%).
Top losers
- Abbey Mortgage Bank declined from N6.40 to N6.00, shedding N0.40 (–6.25%).
- FCMB slipped from N12.05 to N11.50, down N0.55 (–4.56%).
- Seplat Energy fell from N5,809.00 to N5,610.00, losing N199.00 (–3.43%).
- Guinea Insurance eased from N1.33 to N1.30, down N0.03 (–2.26%).
- Univinsure dropped from N1.21 to N1.19, shedding N0.02 (–1.65%).
Most active stocks
- CHAMS led trading with 120.30 million shares valued at N455.10 million.
- Linkage Assurance exchanged 21.24 million shares worth N38.30 million.
- Lasaco Assurance traded 19.50 million shares valued at N48.58 million.
- Aradel Holdings recorded 15.59 million shares worth N10.74 billion.
- Access Corporation traded 14.28 million shares valued at N317.28 million.
Source: Legit.ng