The Nigerian Exchange has recorded impressive performance in the first half of 2025, with strong momentum across multiple asset classes.
Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group), Temi Popoola attributed the performance of the nation’s stock market in the first half of 2025 to a deliberate focus on structural reforms and strong regulatory engagement.
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Total market capitalisation of NGX-listed instruments rose by 16 per cent, from ₦112.60 trillion in January to ₦126.73 trillion by June. This growth was largely driven by equities, which increased from ₦62.76 trillion to ₦75.95 trillion. Fixed income remained stable at ₦50.56 trillion, while ETFs gained traction among retail investors, rising to ₦25.79 billion.
Speaking on the performance, Popoola said: “We have worked closely with the Securities and Exchange Commission to enhance market transparency, drive product diversification, and strengthen investor protections. Our aim is to build a market that competes globally while remaining inclusive and resilient.”
NGX Group, comprising Nigerian Exchange Limited (NGX), NGX Regulation (NGX RegCo), and NGX Real Estate (NGX RelCo), has taken a multi-layered approach to market development. From championing product innovation and policy advocacy to reinforcing investor confidence, the Group is strategically positioned to support Nigeria’s economic ambitions through a more efficient and accessible capital market.
Over ₦4.63 trillion in capital was raised in H1 2025 through the exchange, spanning corporate and sovereign instruments. This capital played a key role in financing infrastructure, supporting enterprise growth, and spurring innovation. Part of this traction can be traced to strategic initiatives introduced in 2024, including the launch of NGX Invest, a digital platform created to simplify participation in public offerings. Since its rollout, NGX Invest has expanded access to primary market instruments and played a central role in the ongoing banking sector recapitalisation, facilitating over ₦2 trillion in capital raised.
Commenting, Vice Chairman of Equity Capital Solution Limited, David Adonri, noted: “The equities market appreciated by 16.6 per cent in the first half, with Q2 alone contributing 13.6 per cent. Stabilising interest rates and foreign exchange conditions have restored investor confidence, particularly among foreign portfolio investors.”
Sectoral performance reinforced the overall market optimism. The NGX Consumer Goods Index advanced by 51.21 per cent, while the NGX Pension and Banking indices rose by 19.32 per cent and 18.06 per cent, respectively, indicating resilience across key sectors.
With the second half of 2025 already in motion, the NGX All-Share Index reached a record high of 131,585.66 points on Friday, July 18, underscoring sustained investor confidence. Backed by stronger macroeconomic fundamentals, rising foreign participation, and a healthy pipeline of listings, Nigeria’s capital market is poised for continued expansion.
The Nigerian Exchange Group Plc (NGX: NGXGROUP) on Wednesday 13th October 2021, listed its shares on The Nigerian Exchange. As at close of trading on Friday, 18th July, the Group has 1,964,115,918 outstanding ordinary shares and a Market Capitalization of ₦1131.20 billion.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
