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Nigeria’s equity market extended its rally as the NGX All Share Index breached the critical 106,000 threshold, closing at 106,124 points with a 0.35% gain on Tuesday.
Sectoral momentum was mixed but skewed toward growth, led by Health Technology (+4.8%), Consumer Non-Durables (+3.78%), and Transportation (+2.97%). Technology Services also advanced 2.68%, while Energy Minerals (-3.55%) and Commercial Services (-1.53%) lagged.
Banking heavyweight Guaranty Trust Holding surged 6.35%, and International Breweries jumped 10%, though Aradel Holdings tumbled 9.86%. Blue chips BUA Foods, Dangote Cement, and MTN Nigeria traded flat.
Attracting investments under AfCFTA
The bullish sentiment aligns with Nigeria’s renewed economic reforms. Trade Minister Dr. Jumoke Oduwole unveiled plans to streamline bureaucracy, empower MSMEs, and attract investments under the African Continental Free Trade Area (AfCFTA), emphasizing digital trade leadership and export diversification.
Meanwhile, non-oil exports soared 24.75% YoY in Q1 2025, driven by cocoa beans (45.02% of total), bolstered by the Nigerian Export Promotion Council’s capacity-building initiatives. These measures, coupled with rising intra-African trade, signal resilience despite global headwinds.
