Despite security challenges and a tough operating environment, the Nigerian stock market delivered an exceptional performance in 2025, rewarding investors with an estimated N37 trillion in capital gains by year end.
Data from the Nigerian Exchange shows that total market capitalisation surged to N99.376 trillion at the close of 2025, up sharply from N62.763 trillion in 2024. The rally was mirrored by the NGX All Share Index, which climbed from 102,926.42 points to 155,613.03 points, translating to a 51.19 percent return and ranking among the strongest annual performances in recent years.
The News Chronicle gathered that renewed confidence, stronger corporate earnings and expectations of macroeconomic stabilisation encouraged investors to increase exposure to equities, even as broader economic conditions remained challenging.
Sectoral performance was broad based. The industrial goods sector led the rally with a 59.2 percent gain, supported by strong price appreciation in stocks such as Beta Glass, Vitafoam, BUA Cement and Dangote Cement. Banking stocks also closed the year firmly positive, rising 39.3 percent, helped by recapitalisation efforts that boosted trading activity and investor interest across the sector.
Market participation expanded during the year, with domestic investors accounting for about four fifths of total trades. Foreign portfolio investors also increased their presence, contributing roughly 20.8 percent of transactions, with equity inflows exceeding N1.28 trillion in the first eleven months of 2025.
Shareholders have urged policymakers to sustain reforms, warning that policy reversals, FX instaiblity or worsening insecurity could threaten the market’s momentum heading into 2026.
