Stable naira, mega listing: Nigerian stocks eye N230 trillion finish in 2026

The Nigerian Exchange (NGX) is poised for a historic period, with record market capitalization, strong liquidity, and substantial capital inflows leading up to the anticipated public listing of the Dangote Petroleum Refinery. The All-Share Index is nearing record levels, trading near its previous historical peak of approximately 255K points.

The Dangote Refinery's public listing, which has been extended, has set a record with applications for its shares reaching an estimated N5.85 trillion ($4.1 billion), nearly three times the initial subscription target. The NGX's announcement of the company's shares being listed on its boards, with a December listing anticipated, is expected to significantly alter the weightings of the NGX All-Share Index (ASI).

The oversubscribed offering has attracted interest from institutional investors, domestic pension funds, and international frontier-market funds, suggesting that substantial buying pressure may emerge on the first day of trading. Nigerian equities are expected to end bullish through the year-end, supported by increased investor liquidity and major listing milestones in the industrial sector.

Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.