Nigeria Economic Update, Issue 3

The Nigerian Exchange (NGX) weekly report for January 16, 2026, showed that the NGX All-Share Index (ASI) rose by 2.36%, closing at 166,129.50 points, while market capitalisation increased by 2.48% to ₦106.354 trillion. The gain signifies strong market activity and increased participation in equities and exchange-traded products. Furthermore, investors traded a total of 4.607 billion shares, valued at ₦130.636 billion, across 263,439 deals in the week under review, up from 4.164 billion shares worth ₦94.026 billion in 248,254 deals recorded in the preceding week. The financial services sector led the activity chart, accounting for 3.126 billion shares valued at ₦47.2 billion across 94,186 deals, contributing 67.8% to the total equity turnover volume and 36.2% to the total equity turnover value. The services sector followed with 353.4 million shares worth ₦5.1 billion in 17,764 deals, while the ICT sector came third with 277.3 million shares valued at ₦18.0 billion across 28,525 deals. The rise in equities indicates that investors are regaining confidence in the market, likely driven by expectations of stable economic conditions and strong corporate earnings. To build on the positive market momentum, policymakers should ensure well communicated monetary and fiscal policies, enhance transparency in corporate reporting, and strengthen investor protection measures. Proactive steps in these areas will help sustain market confidence, encourage broader participation, and attract long-term capital to the equity market. 

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