Nigerian Stock Exchange (NGX) Records Highest Ever Growth in 2025
The Nigerian Stock Exchange (NGX) witnessed its highest ever growth in 2025, with a market capitalization increase of 36,620 billion nairas (approximately $25.3 billion), reaching 99,400 billion nairas (nearly $68.6 billion) by the end of December. The NGX All-Share Index surged by 51.19%, confirming the market's exceptional momentum after a 37.65% growth in 2024.
Despite a challenging economic context, marked by the naira's instability at the beginning of the year, high inflation, and monetary tightening, investors gradually returned to stocks. This rebound was supported by strong corporate earnings, attractive dividend announcements, undervalued stock buybacks, and improved visibility in the foreign exchange market.
The market remained largely driven by local investors, accounting for over 83% of transactions. Foreign participation improved, with inbound flows increasing by 182%, resulting in a net positive balance of 208 billion nairas for the first time in three years. The stock market year was also marked by major transactions, including TotalEnergies' sale of its stake in the Bonga oil field, UACN's acquisition of CHI Limited, the listing of Legend Plc, and Tolaram's acquisition of Guinness Nigeria.
