Nigeria’s stock market has enjoyed a remarkable run in 2026, and market experts believe the momentum can carry into the second half of the year, even as they caution investors against chasing gains blindly. The All-Share Index climbed roughly 47.4 percent in the first six months, closing the half at 229,419 points, up from about 155,613 at the end of 2025.
Market capitalisation swelled to around N147.2 trillion by mid-year, and the rally extended into the new half, with capitalisation reaching N156.2 trillion and the index touching 242,367 points in early July, a further gain of about 5.6 percent from the June close. Investors have added tens of trillions of naira in paper wealth year to date.
The strength has drawn international notice, with Bloomberg ranking Nigeria as the top-performing stock market in the world in dollar terms. Analysts tie the surge to ongoing economic reforms, improving corporate earnings and renewed foreign portfolio interest.
Still, market leaders sounded a note of prudence. Chartered Institute of Stockbrokers president Dr Fiona Ahimie reminded investors that strong performance does not remove risk, urging them to prioritise fundamentals over price chasing, keep diversified portfolios and adopt a long-term view. Experts also flagged potential headwinds, including political uncertainty ahead of the 2027 elections and the likelihood of periodic profit-taking.
Source: Vanguard.
Comments 0