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Market capitalisation rises to N121.553 trillion by February 17
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All-Share Index posts 21.69% year-to-date return
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Analysts project market could surpass $100bn in 2026
Nigerian equities have staged a strong rebound in the first seven weeks of 2026, with investors gaining N22.177 trillion in market value between January 2 and February 17.
Market capitalisation climbed to N121.553 trillion as of February 17, while the Nigerian Exchange Limited All-Share Index recorded a 21.69 per cent year-to-date return.
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The rally comes amid improved investor sentiment, despite earlier concerns over the new capital gains tax regime. In January alone, the market crossed the N100 trillion mark, closing the month at N106.2 trillion.
Analysts at CSL Stockbrokers Limited projected that the market could surpass $100 billion (about N134 trillion) this year, buoyed by anticipated listings of major industrial assets such as the Dangote Refinery and fertiliser plant.
Market momentum in February was further supported by a circular from the National Pension Commission (PenCom), which revised equity allocation limits for pension funds—potentially boosting liquidity in fundamentally strong stocks.
Cardinalstone Partners also noted that easing inflation, lower yields, and an improved Equity Risk Premium are supporting valuations, positioning Nigerian equities for another year of positive, though more selective, returns.
