Equities market stakeholders have stated that Nigeria’s inventory market is anticipated to keep up a constructive bias in 2026, pushed by liquidity and resilient sectors corresponding to banking and Data Communication Expertise (ICT).
Additionally they disclosed that the continuing macro-reform-led rebound in key sectors is anticipated to proceed, with home developments across the Dangote petrochemical itemizing offering additional assist to the Nigerian Trade (NGX).
Regardless of uneven market efficiency in pre-election years, analysts stay optimistic in regards to the market’s prospects.
Analysts anticipated the native bourse to return 40.9 per cent within the full yr 2026 in a base case situation.
The market has opened the yr 2026 on a constructive observe because the market capitalisation traded above N100 trillion. Within the first three buying and selling days of the yr, the Nigerian Trade All-Share Index rose by 2.79 to shut at 159,951.08 factors on January 6, 2026, from 155,613.03 factors at which it opened buying and selling for the yr on January 2, 2026. Equally, the market capitalisation appreciated by N2.904 trillion to shut at N102.28 trillion from N99.376 trillion.
It will likely be recalled that the market closed the yr 2025 on a bullish efficiency, with NGX-ASI delivering a year-to-date (YTD) acquire of 51.19 per cent as of December 31, 2025, whereas the market capitalisation achieved a yearly acquire of N36.613 trillion in 2025.
The Group managing director/chief government officer, Nigerian Trade Group, Temi Popoola said that “as we sit up for 2026, NGX Group stays centered on deepening partnerships with regulators, issuers, market operators, policymakers, and the broader monetary ecosystem to maintain this momentum. We’re optimistic in regards to the alternatives forward and dedicated to positioning the Nigerian capital market as a key driver of financial progress and wealth creation, whereas advancing NGX Group’s imaginative and prescient as Africa’s most well-liked change hub.”
Afrinvest Restricted stated, “Our evaluation signifies that whereas Nigeria’s pre-election years are usually marked by elevated liquidity, market efficiency stays uneven. Nonetheless, we count on a constructive bias in 2026, notably in liquid and resilient sectors corresponding to banking and ICT, whereas the continuing macro-reform-led rebound in key sectors continues. Moreover, home developments across the Dangote petrochemical itemizing ought to additional assist constructive sentiments on the NGX.”
The analysis agency defined that “firstly of 2025, we had anticipated the NGX-ASI to achieve 30.4 per cent by year-end. The benchmark index surpassed our best-case projection of 44.8 per cent.
“Following our overview of the latest macroeconomic surroundings and market dynamics, we count on the native bourse to return 40.9 per cent within the full yr 2026 in a base case situation.”
On the inventory market expectations for 2026, funding banker & stockbroker, Mr Tajudeen Olayinka, projected the inventory market to keep up constructive momentum, warning of the impression of Capital Features Tax (CGT) on overseas buyers exiting the Nigerian inventory market.
“Overseas and high-network buyers are those driving the inventory market. With the Authorities attempting to implement the CGT coverage by 2026, it’s going to have an effect on the market negatively. I perceive dialogue is ongoing on CGT and whether it is suspended, it’s a welcome growth to the inventory market. The CGT have to be addressed to impede the inventory market’s latest excessive returns on funding,” he stated.
He famous that the stress in the direction of the 2027 election could not have an effect on the inventory market efficiency following its latest fundamentals.
On his half, the MD/CEO of Globalview Capital Restricted, Aruna Kebira, said that improved liquidity because of the 2027 normal election could trickle all the way down to the inventory market, expressing that the conclusion of the 2026 recapitalisation and insurance coverage sector capitalisation would enhance the inventory market.
He famous that Pension Fund Administrations (PFA) contribution within the inventory market is critical as overseas buyers exiting the market could not have an effect.
The chief working officer of InvestData Consulting Restricted, Mr Ambrose Omordion, projected a continued spectacular 2026 earnings by listed corporations and funding returns to shareholders with a dividend which is anticipated to impression the inventory market efficiency.
“For 2026, if we see extra spectacular earnings by listed corporations, we count on to see extra progress coming to the inventory market,” he stated.
He famous that new listings in 2026 and the N54.43 trillion 2026 finances are anticipated to set off liquidity within the monetary sector and drive the inventory market.
