The Nigerian Exchange (NGX) recorded a massive N4.15 trillion in total transactions during the first quarter of 2026, marking a significant milestone in the nation’s capital market history.
This performance represents an 86% increase compared to the N2.23 trillion recorded in Q1 2025. Total market capitalization soared by N29.83 trillion, closing the quarter at N129.21 trillion.
Domestic investors drove the surge, contributing N3.61 trillion—a 154% rise from the previous year. This was fueled by a PenCom policy update in February 2026 that raised equity limits for pension funds.
Institutional and retail domestic players together accounted for the majority of market activity, while foreign participation weakened. Foreign inflows dropped to N221.62 billion, down from N393.68 billion in Q1 2025.
The All-Share Index shattered the 200,000-point psychological barrier for the first time, ending March at 201,287.78 points. This reflects a year-to-date return of approximately 29.35%.
Market analysts attribute the growth to strong 2025 corporate earnings and optimism surrounding the successful completion of the banking sector recapitalization. High demand for industrial and financial stocks led the rally.
The quarter’s N30 trillion gain is the largest in Nigeria’s history. It cements the NGX’s position as one of the world’s top-performing exchanges for the start of 2026.
