Amid reforms within the international alternate market and different reforms by the federal authorities to stabilise the nation’s economic system, the Nigerian equities market rose by N28.5 trillion in 11 months of 2025.
The inventory market that closed for buying and selling in 2024 at N62.763 trillion, gained 45.45 per cent or N28.57 trillion to shut at N91.286 trillion as of November 28, 2025.
The NGX All-Share Index closed November 28, 2025 at 14,20.53 foundation factors, gaining 40,94.13 foundation factors or 39.44 per cent from 102,926.40 foundation factors the index closed for buying and selling in 2024.
Nonetheless, the market capitalisation in November 2025 depreciated by N6.54 trillion or 6.7 per cent from N97.829 trillion it closed for buying and selling in October 2025 to shut at N91.286 trillion on November 28, 2025.
Consequently, the NGX ASI declined by 10,05.93 foundation factors or almost 6.88 to 143,520.53basis factors from 1154,126.46 foundation factors the key NGX index closed for buying and selling in October 2025.
In November 2025, Nigeria’s inventory market suffered certainly one of its heavy losses in someday, dropping by N4.6 trillion on traders’ profit-taking in extremely capitalised listed corporations on the Alternate..
Capital market analysts attributed the downward motion within the inventory market to traders’ sentiment buying and selling over President Donald Trump’s risk of navy motion in Nigeria and Federal Authorities’s implementation of the Capital Positive aspects Tax (CGT).
The funding banker & stockbroker, Tajudeen Olayinka, stated the N4.6 trillion drop in market capitalisation was in opposition to the backdrop of Trump’s risk and introduction of CGT by 2026.
Olayinka said, ‘’the mix of those two components have performed a major function in traders’ profit-taking in extremely capitalised shares on the NGX.”
Talking on the general inventory market efficiency this yr, Group managing director/chief govt officer, NGX Group, Mr. Temi Popoola described the milestone as a mirrored image of rising investor confidence and the Alternate’s strategic deal with deepening market participation.
“Crossing the 151,000-point threshold is a testomony to the power and flexibility of our market. It demonstrates how native and worldwide traders proceed to see worth in Nigerian equities regardless of world headwinds,” stated Popoola.
“At NGX Group, we’re dedicated to driving innovation, transparency, and market growth to maintain this progress trajectory. This milestone reinforces our perception that the Nigerian capital market stays a important enabler of financial transformation.”
For the 11 months 2025 efficiency of the inventory market, analysts have attributed the 39.44 per cent progress to stability within the international alternate market, corporations recovering from international alternate losses, market liquidity, capital influx, dominance of home traders, rising portfolio funding, Central Financial institution of Nigeria (CBN)’s banking sector recapitalisation and insurance coverage sector reforms have performed a important function in general inventory market efficiency within the interval underneath overview.
To this point in 2025, the inventory market has seen Financial Coverage Committee of the CBN lowering Financial Coverage Charge to 27 per cent, marking the primary lower because the COVID-19 pandemic in 2020.
Additionally, the yield on Nigerian Treasury Payments (NTB) has dropped to fifteen per cent as of November 2025 from 18.00 per cent.
Within the 11 months underneath overview, a number of shares listed on the NGX have recorded sturdy month to this point appreciation, reflecting heightened international investor confidence pushed by improved macroeconomic indicators and sturdy company earnings.
The managing director, Globalview Capital Restricted, Mr. Aruna Kebira famous that the inventory market within the 11 months of 2025 witnessed the tanking of inflation figures and CBN slicing rate of interest to 27 per cent from 27.50 per cent.
“These parameters alone gave the capital market traders a second of respite within the 9 months of 2025.
“The yields within the cash market aren’t wanting as engaging as they have been in 2024, making discerning traders in quest of higher yields to think about the capital market as their funding vacation spot.
“Within the final MPC, the MPR was diminished, together with different metrics. That is sending constructive alerts that because the inflation determine and cash market yields are downward wanting, the MPC would have a cause to tinker the MPR additional downward. Which isn’t all the time fastened revenue pleasant.
“If the varied issuers show a efficiency greater than the corresponding interval of 2024 and declare a formidable interim dividend, the inventory market will transfer to understand their costs.
“I additionally see an enchancment within the liquidity across the inventory market area, which is able to increase market participation and invite the bull into the market,” he added.
