The Nigerian Stock Market had a phenomenal year in 2025, with investors’ wealth growing by an average of 50.9%, driven by strong performances in the Consumer Goods and Insurance sectors. Guinness, Champion, and Nascon were among the top performers in the Consumer Goods sector, while Sovrenins, AIICO, and Custodian led the Insurance sector’s rally.
The market’s growth was fueled by various factors, including policy reforms, increased capital requirements, and a 40% hike in telecom tariffs. Notable mergers and acquisitions included Geregu Power’s takeover of Amperion and Heirs Holding’s acquisition of a 20% stake in Seplat.
As the market looks to 2026, key factors to watch include the introduction of a 25% capital gain tax, the listing of Dangote Refinery, and the outlook for crude oil prices.