The Nigerian Exchange Limited (NGX) has disclosed the exit of Conoil and Julius Berger from the NGX 30 Index, a key benchmark tracking the 30 most capitalized and liquid companies listed on the Exchange.
This was revealed in a half-year market review, published on July 1, 2025, and titled “Strengthening the Competitiveness of African Economies.”
According to the Exchange, Conoil and Julius Berger were dropped during the semi-annual rebalancing, in line with market capitalization criteria.
Elsewhere, in the Consumer Goods Index, Golden Guinea Breweries Plc was replaced by McNichols Consolidated Plc, reflecting shifts in market capitalization and sector performance.
Further Index adjustments
Beyond the NGX 30, the exchange also announced several changes across its sectoral and thematic indices as part of its half-year review.
In the NGX Insurance Index, Fortis Global Insurance Plc and International Energy Insurance Plc were removed, while LASACO Assurance Plc was introduced as the latest addition.
The Industrial Goods Index saw Notore Chemical Industries Plc give way to Austin Laz & Company Plc.
Commenting on the review, NGX CEO Jude Chiemeka said the Exchange is focused on becoming one of Africa’s top markets by increasing liquidity and encouraging greater investor participation through ongoing initiatives and product innovation.
The new inclusions, particularly into the NGX 30, reflects the dynamic nature of NGX indices, guided by market performance and strategic positioning of listed companies.
In the first half of 2025, the NGX 30 Index rose by 16.03%, closely mirroring the bullish momentum of the broader All-Share Index, which advanced by 16.57%.
While Aradel is already a heavyweight, Wema Bank’s strong half-year gain of 67.64% significantly boosted its market capitalization, leading to its entry into the NGX 30 Index.