In a report by BusinessDay, the Nigerian Exchange (NGX) All-Share Index was said to be nearing 160,000 points, with market capitalization approaching the ₦100 trillion threshold. President Bola Tinubu reportedly welcomed the milestone and urged greater local investment.
The rally has been linked to strong banking, industrial, and oil and gas performances, with investors using equities as a hedge amid inflation. Analysts also cited improved FX stability as a factor supporting sentiment and potential foreign inflows.
Officials believe deeper markets could help the private sector raise long-term capital for infrastructure, though some observers warn market gains need to align with real-sector productivity to be sustainable.
The Nation and Tribune Online also reported on rising activity, including increased retail participation through mobile trading apps.
Echotitbits take: ₦100 trillion is a major psychological level. If sustained, it could accelerate IPO plans and broaden capital formation—provided earnings and governance keep pace.
Source: NgxGroup – https://ngxgroup.com/ngx-market-cap-tops-%E2%82%A6100trn-on-strong-early-year-buying/ 2026-01-09
Photo Credit: NGX Group
