Nigeria’s equity market is witnessing an unprecedented wave of investor activity, with total transactions hitting a record N4.14 trillion in the first quarter of 2026, according to data from the Nigerian Exchange Limited.
The figure represents a sharp jump from the N2.2 trillion recorded in the same period last year, signaling renewed confidence in equities amid ongoing economic reforms. The rally has also supported a strong performance in the market, with the All Share Index maintaining solid gains through the quarter.
The News Chronicle understands that domestic investors are driving the surge, accounting for the bulk of transactions as both institutional and retail participants ramp up their stock exposure in search of higher returns.
Local investors contributed over N3.6 trillion, much outnumbering foreign involvement, which stayed rather low. Experts link the pattern to policy changes in the foreign exchange and monetary policy fields, which have attracted more capital into equities.
Major stocks have led the rise; firms such as MTN Nigeria and BUA Cement have contributed substantially to the total market capitalization, which is currently estimated at around N143 trillion.
Some market observers caution that the rapid rise in retail activity may indicate overheating in some areas, even if the surge suggests expanding wealth-creation prospects.
Even so, the broader outlook remains positive, as increased participation is seen as a sign of deepening confidence in Nigeria’s capital market.
