2024 caps 5-year winning streak for Nigerian stocks with 37.65% growth  

This impressive performance continues a strong recovery that began in 2020, following two challenging years where the index faced declines of 17.81% in 2018 and 14.60% in 2019.

In a striking comeback, the index recovered in 2020 with a robust 50.03% increase, outpacing major global benchmarks like the S&P 500 and FTSE 100, which finished at 16.3% and 14.3%, respectively, during the pandemic.

Since then, the All-Share Index has consistently closed above its yearly opening price from 2020, overcoming various macroeconomic challenges.

By December 31, 2024, the Nigerian stock market—reflected in the All-Share Index—achieved a market capitalization of N62.76 trillion, a staggering increase of approximately N21.8 trillion from N40.91 trillion at the close of 2023.

Noteworthy sectors such as Oil & Gas and Insurance led the charge, with year-to-date gains of 159% and 123%, respectively, as both large-cap and mid-cap stocks collectively fueled the index’s ascent to new heights.

The All-Share Index began January 2020 at 28,843 points, but it faced significant challenges in the first quarter as the pandemic infiltrated the global economy. A steep year-to-date decline took hold in February and continued until September 2020.

The trend continued into 2022, where the index posted steady cumulative gains throughout the year, ultimately achieving a performance of 19.98%. By December 31, 2023, the All-Share Index had risen to a remarkable 74,773 points, solidifying its upward trajectory.

The Nigerian stock market, tracked by the All-Share Index, delivered a year-to-date performance of 37.65% in 2024, sustaining the bullish momentum carried over from 2023.

As of December 31, the All-Share Index stands strong, closing above 102,000 points, signaling resilience and renewed buying interest as the year ends.

Since 2020, the All-Share Index has consistently excelled in the fourth quarter, from October to December.

Looking forward, the launch of NGX Invest—a cutting-edge digital platform aimed at streamlining Public Offerings and Rights Issues in the Nigerian capital market—on July 11, 2024, is expected to boost retail participation in the coming year.

At the 2024 Investor Summit & Awards Dinner on December 18, 2024, Mr. Jude Chiemeka, CEO of the Nigerian Exchange Limited (NGX), revealed plans for innovative solutions, including a blockchain-like interface designed to simplify and enhance the investment experience.