With the Nigerian Exchange (NGX) exceeding the N90 trillion market capitalization threshold for the very first time, the Nigerian capital market has reached a major milestone.
The News Chronicle (TNC) found that this trend points to more than just an increase in numbers; it also mirrors rising investor confidence, better company results, and revived interest in Nigeria’s economic recovery narrative.
Based on market statistics followed on Monday’s closing of trade, the overall value of listed shares on the NGX rose to an astounding N91.15 trillion, up from N89.37 trillion reported just last Friday. Driven by aggressive activity in important industries like banking, consumer products, oil and gas, and industrials, this represented a 1.9 percent rise. Likewise, increasing the year-to-date growth to 39.98 percent, the all-share index (ASI) went from 141,263.05 to 144,074.23.
TNC understands that the surge in this event has been fueled by a number of causes, including good Q2 earnings from blue-chip companies, lowering inflation expectations, and a steady monetary policy environment. Encouraged by better economic data and the Central Bank’s decision to keep interest rates stable, foreign portfolio investors are also returning to the Nigerian market.
With their shares not only bouncing from prior lows but also reaching new price records, corporations like Zenith Bank, GTCO, BUA Foods, Dangote Cement, and Seplat Energy have been instrumental in fueling the rally. Analysts see this change as proof of greater strategic institutional involvement and growing local investor optimism.
Some merchants caution that profit-taking might cause a brief dip; others feel that the present momentum shows a larger change in market mood. Independent investor Amaechi Egbo confirmed that the N90 trillion mark is not just symbolic but rather a psychological breakthrough that may encourage more inflows and continuing development.
Egbo said that this increase comes from true basics: strong earnings, steady naira performance, and believable policy signals—not just market conjecture. To maintain the present optimistic attitude, he stressed the need for continuous changes, improved legal clarity, and more open access to money.
All eyes are now on legislators and investors to build on this confidence and create a more vibrant, globally competitive market as the NGX starts this new phase.
