Investors in Nigeria’s stock market reaped N1.811 trillion in gains during September 2025, driven by heightened confidence spurred by the Central Bank of Nigeria’s (CBN) monetary policy reforms. The recent reduction in the Monetary Policy Rate (MPR) from 27.5% to 27% has encouraged investors to shift their portfolios from fixed-income securities to equities, boosting market activity.
Data from the Nigerian Exchange Limited (NGX) shows that market capitalization, which reflects the total value of listed investments, surged by N1.811 trillion, rising from N88.769 trillion in August to N90.580 trillion by the end of September. Similarly, the NGX All Share Index (ASI), a key indicator of market performance, climbed 1.7% to 142,710.48 points from 140,295.50 points.
Market analysts attribute the robust performance to renewed interest in major large-cap stocks. The market’s recovery was fueled by a mix of profit-taking from earlier declines and increased buying in fundamentally strong companies, as investors positioned themselves for potential domestic and global economic developments. Positive corporate earnings expectations, optimism in specific sectors, and macroeconomic indicators further supported the market’s upward trend, though sentiment remained cautious.
On Tuesday, September 30, the NGX ASI rose by 0.23%, closing at 142,710.48 points, with market capitalization increasing by N445.2 billion to N90.58 trillion. The gains were driven by strong buying interest in stocks such as ARADEL, which surged by 9.82%, Fidelity Bank (up 5.26%), Nigerian Breweries (up 2.38%), and Transcorp (up 8.48%). However, market breadth was negative, with 31 stocks declining compared to 28 gainers.
Analysts at InvestData Consulting Limited noted, “The equities market is set for a cautious recovery moving forward. Key macroeconomic factors, including inflation trends, exchange rate fluctuations, and policy changes, will continue to shape investor sentiment, alongside global factors such as crude oil prices and international market dynamics.”
