The chief executive of the Nigerian Exchange (NGX) Group Plc, Mr Temi Popoola, and his counterpart at the NGX Limited, Mr Jude Chiemeka, have expressed delight over the value of the bourse breaking the N100 trillion ceiling on Monday.
Yesterday, the domestic stock exchange gained 1.74 per cent, with the market capitalisation rising by N1.869 trillion to N101.807 trillion ($71.15 billion) from N99.938 trillion ($69.61 billion) and the All-Share Index (ASI) growing by 2,725.86 points to 159,218.22 points from last Friday’s 156,492.36 points.
The growth was buoyed by renewed investor demand and broad-based gains across listed stocks, resulting in a year-to-date returns of 2.32 per cent.
It was observed that the rally was driven by strong buying interest in stocks such as Cadbury Nigeria, Fidson Healthcare, and Champion Breweries, reflecting the traditional “January Effect” that often characterises early-year market activity.
Investor sentiment strengthened markedly, with market breadth improving to 9.13x as 73 equities recorded gains against eight decliners, signalling widespread participation in the rally.
“The equities market capitalisation crossing the N100 trillion mark is a defining milestone for Nigeria’s capital market and a clear signal of renewed investor confidence as the year begins.
“It reflects the market’s growing depth, resilience, and ability to respond positively to improving macroeconomic conditions and structural reforms,” Mr Popoola stated, adding that sustained collaboration between market stakeholders and regulators has played a key role in strengthening market credibility.
“Over the past two years, closer alignment between market operators, policymakers, and the Securities and Exchange Commission (SEC) has enhanced transparency, liquidity, and investor protection, reinforcing the Exchange’s role in mobilising long-term capital for economic growth,” he said.
On his part, Mr Chiemeka said, “The breadth of the market tells a positive story. We are seeing strong participation across banking, industrial, and consumer stocks, alongside rising trading volumes, which suggest growing investor confidence and a more active market at the start of the year.”