NGX crashes for 8th straight session as investors lose whopping N5.45tn

The Nigerian stock market, denoted as NGX, suffered an 8th consecutive session of losses on Thursday, resulting in investors incurring a staggering cumulative loss of N5.45 trillion, according to reports. The market has been on a declining trend since Tuesday, August 11, 2026, with equities shedding significant value in recent weeks.

Last week alone, investors lost N3.8 trillion in four consecutive bearish sessions. From Monday to Thursday of the current week, stocks on the NGX market experienced a combined loss of N1.65 trillion, marking a significant downturn in overall market performance. On Thursday, investors lost an additional N440 billion, driven by profit-taking in large- and mid-cap stocks.

The market's value declined by 0.30%, or N440 billion, from N155.417 trillion at the opening of trading to N154.977 trillion at the close. Among the losers, International Energy Insurance saw a 9.85% decline, closing at N4.30, while Haldane McCall led the gainers with a 9.38% decrease, finishing at N3.85. The implementation of the recently passed Nigerian Insurance Industry Reform Act 2025 is believed to have contributed to the poor performance of insurance stocks, as several licenses, including those of Universal Insurance and Nigeria Reinsurance, were revoked by the National Insurance Commission in recent weeks.