Government, Corporate Activities Lift NGX Overall Market Capitalisation to N226.38tn in First 10 Months of 2026
Kayode Tokede The overall market capitalisation of listed securities rose to a record N226.38 trillion in the first 10 months of 2026, driven by increased government and corporate activity on
The Nigerian Exchange Limited (NGX) reported a record overall market capitalisation of N226.38 trillion for the first ten months of 2026, marking a significant milestone in the country's financial landscape. This impressive growth was driven by a surge in government and corporate activities on the NGX, as outlined in a recent report. The market capitalisation surged to N76.64 trillion, representing a 51.2% increase from the previous year's close.
The total market capitalisation encompassed four major categories: equities, bonds, securities on the Non-Interest Finance Board, and exchange-traded funds (ETFs). The equities segment, comprising over 150 stocks, emerged as the largest contributor, accounting for approximately 72.9% of the overall market capitalisation. This segment witnessed an astounding 66.5% increase, reaching N165.114 trillion by October 2026, up from N99.18 trillion at the end of 2025.
Bond securities also made substantial gains, with their market capitalisation surging by 18.6% to N59.89 trillion. This category included commercial papers, corporate bonds, and debentures, along with federal, state, and local government bonds. The federal government's bonds, the largest component of this sector, experienced the most significant growth, rising from N49.32 trillion to N57.2 trillion.
Other categories such as securities on the Non-Interest Finance Board and ETFs contributed a smaller share, with the former increasing to N1.33 trillion and the latter declining by 1.4% to N42.24 billion. Despite this minor fluctuation, the overall market capitalisation demonstrated robust growth, propelled by increased listings of federal and state government debt securities, strong corporate earnings, and improved economic indicators.
Key factors contributing to this bullish trend included the Central Bank of Nigeria's (CBN) foreign exchange reforms, the removal of petrol subsidies, banking sector reforms, and the reduction of the Monetary Policy Rate (MPR) to 23%. Additionally, improved financial system liquidity and easing inflation played crucial roles in supporting the market's performance.
The Nigerian market's rise placed it among the best-performing globally, according to NGX Group, underscoring the resilience and attractiveness of the Nigerian capital market.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
